Electronic Arts (NASDAQ:EA – Get Rating) updated its FY23 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $2.79-2.87 for the period, compared to the consensus estimate of $4.13. The company issued revenue guidance of $7.9-8.1 billion, compared to the consensus revenue estimate of $8.05 billion.Electronic Arts also updated its FY 2023 guidance to $7.05-$7.15 EPS.
EA has been the subject of a number of analyst reports. Morgan Stanley reduced their price target on Electronic Arts from $155.00 to $150.00 and set an equal weight rating for the company in a research report on Wednesday, January 19th. Atlantic Securities raised shares of Electronic Arts from a neutral rating to an overweight rating and set a $160.00 target price for the company in a research report on Wednesday, January 19th. Robert W. Baird cut their price target on Electronic Arts from $165.00 to $140.00 in a report on Wednesday. StockNews.com started coverage on shares of Electronic Arts in a research report on Thursday, March 31st. They issued a buy rating on the stock. Finally, The Goldman Sachs Group cut shares of Electronic Arts from a buy rating to a neutral rating and reduced their target price for the company from $183.00 to $145.00 in a research note on Tuesday, April 19th. Five research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of Buy and a consensus price target of $157.24.
Shares of Electronic Arts stock opened at $114.00 on Wednesday. The firm has a fifty day moving average of $123.71 and a two-hundred day moving average of $129.59. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.20 and a current ratio of 1.20. The stock has a market capitalization of $32.06 billion, a price-to-earnings ratio of 50.27, a PEG ratio of 1.51 and a beta of 0.83. Electronic Arts has a 52 week low of $109.24 and a 52 week high of $148.93.
Electronic Arts (NASDAQ:EA – Get Rating) last posted its earnings results on Tuesday, May 10th. The game software company reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by ($0.63). Electronic Arts had a return on equity of 18.59% and a net margin of 9.83%. The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same quarter in the previous year, the firm posted $0.72 earnings per share. Electronic Arts’s quarterly revenue was up 17.5% compared to the same quarter last year. As a group, research analysts forecast that Electronic Arts will post 5.42 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 22nd. Investors of record on Wednesday, June 8th will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.67%. This is a boost from Electronic Arts’s previous quarterly dividend of $0.17. Electronic Arts’s dividend payout ratio is currently 30.63%.
In related news, CEO Andrew Wilson sold 10,000 shares of Electronic Arts stock in a transaction that occurred on Monday, February 28th. The stock was sold at an average price of $130.16, for a total value of $1,301,600.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Jacob J. Schatz sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 16th. The stock was sold at an average price of $133.75, for a total value of $133,750.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 44,700 shares of company stock worth $5,647,859. Corporate insiders own 0.65% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the stock. California State Teachers Retirement System grew its stake in shares of Electronic Arts by 3.9% in the fourth quarter. California State Teachers Retirement System now owns 511,804 shares of the game software company’s stock valued at $67,507,000 after buying an additional 19,059 shares in the last quarter. Thrivent Financial for Lutherans increased its position in Electronic Arts by 5.4% during the fourth quarter. Thrivent Financial for Lutherans now owns 243,358 shares of the game software company’s stock worth $32,141,000 after buying an additional 12,463 shares during the last quarter. Vident Investment Advisory LLC lifted its position in shares of Electronic Arts by 16.4% in the fourth quarter. Vident Investment Advisory LLC now owns 21,996 shares of the game software company’s stock valued at $2,903,000 after buying an additional 3,100 shares during the last quarter. 1832 Asset Management LP lifted its position in shares of Electronic Arts by 783.5% in the fourth quarter. 1832 Asset Management LP now owns 20,700 shares of the game software company’s stock valued at $2,812,000 after buying an additional 18,357 shares during the last quarter. Finally, Toroso Investments LLC increased its holdings in shares of Electronic Arts by 53.2% during the 4th quarter. Toroso Investments LLC now owns 8,366 shares of the game software company’s stock worth $1,103,000 after acquiring an additional 2,904 shares during the last quarter. Institutional investors and hedge funds own 89.28% of the company’s stock.
Electronic Arts Company Profile (Get Rating)
Electronic Arts Inc develops, markets, publishes, and distributes games, content, and services for game consoles, PCs, mobile phones, and tablets worldwide. It develops and publishes games and services across various genres, such as sports, racing, first-person shooter, action, role-playing, and simulation primarily under the Battlefield, The Sims, Apex Legends, Need for Speed, and Plants vs
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