Zacks: Analysts Expect Electronic Arts Inc. (NASDAQ:EA) Will Announce Quarterly Sales of $1.77 Billion


Wall Street brokerages expect that Electronic Arts Inc. (NASDAQ:EA – Get Rating) will announce sales of $1.77 billion for the current quarter, according to Zacks. Eight analysts have provided estimates for Electronic Arts’ earnings. The highest sales estimate is $1.79 billion and the lowest is $1.74 billion. Electronic Arts reported sales of $1.49 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 18.8%. The company is scheduled to issue its next quarterly earnings results after the market closes on Monday, January 1st.

According to Zacks, analysts expect that Electronic Arts will report full-year sales of $7.46 billion for the current fiscal year, with estimates ranging from $6.95 billion to $7.54 billion. For the next year, analysts expect that the company will report sales of $8.00 billion, with estimates ranging from $7.69 billion to $8.12 billion. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Electronic Arts.

A number of brokerages recently issued reports on EA. Wedbush decreased their target price on Electronic Arts from $200.00 to $180.00 and set an “outperform” rating for the company in a research report on Thursday, January 27th. Morgan Stanley reduced their target price on Electronic Arts from $155.00 to $150.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 19th. MKM Partners cut their price objective on Electronic Arts from $172.00 to $162.00 and set a “buy” rating on the stock in a research report on Wednesday, February 2nd. Barclays dropped their target price on Electronic Arts from $152.00 to $127.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 2nd. Finally, Sanford C. Bernstein began coverage on Electronic Arts in a research note on Friday, April 22nd. They issued an “outperform” rating and a $157.0 target price for the company. Six investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $160.63.

In related news, COO Laura Miele sold 3,100 shares of the stock in a transaction that occurred on Monday, May 2nd. The shares were sold at an average price of $119.23, for a total value of $369,613.00. Following the completion of the sale, the chief operating officer now directly owns 20,329 shares of the company’s stock, valued at approximately $2,423,826.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Blake J. Jorgensen sold 3,315 shares of the stock in a transaction that occurred on Wednesday, February 9th. The stock was sold at an average price of $134.75, for a total transaction of $446,696.25. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 48,015 shares of company stock worth $6,094,555. Company insiders own 0.65% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. GYL Financial Synergies LLC grew its holdings in shares of Electronic Arts by 2.0% in the fourth quarter. GYL Financial Synergies LLC now owns 3,900 shares of the game software company’s stock valued at $514,000 after purchasing an additional 77 shares in the last quarter. Rockland Trust Co. grew its holdings in shares of Electronic Arts by 3.5% in the fourth quarter. Rockland Trust Co. now owns 2,342 shares of the game software company’s stock valued at $309,000 after purchasing an additional 79 shares in the last quarter. Summit Place Financial Advisors LLC grew its holdings in shares of Electronic Arts by 1.0% in the fourth quarter. Summit Place Financial Advisors LLC now owns 8,255 shares of the game software company’s stock valued at $1,089,000 after purchasing an additional 80 shares in the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co grew its holdings in shares of Electronic Arts by 3.3% in the fourth quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 2,470 shares of the game software company’s stock valued at $326,000 after purchasing an additional 80 shares in the last quarter. Finally, Bradley Foster & Sargent Inc. CT grew its holdings in shares of Electronic Arts by 2.1% in the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 4,096 shares of the game software company’s stock valued at $540,000 after purchasing an additional 85 shares in the last quarter. 89.28% of the stock is owned by institutional investors and hedge funds.

NASDAQ:EA opened at $115.29 on Monday. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $32.42 billion, a P/E ratio of 51.93, a P/E/G ratio of 1.56 and a beta of 0.83. Electronic Arts has a 52 week low of $114.39 and a 52 week high of $148.93. The stock’s fifty day moving average is $124.39 and its two-hundred day moving average is $129.92.

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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