EA has been the subject of a number of other reports. Pacific Crest reissued an overweight rating and issued a $112.00 price target on shares of Electronic Arts in a report on Wednesday, April 26th. BidaskClub cut Electronic Arts from a buy rating to a hold rating in a report on Friday, June 30th. Piper Jaffray Companies cut their price target on Electronic Arts from $119.00 to $99.00 and set an overweight rating for the company in a report on Wednesday, May 10th. Oppenheimer Holdings, Inc. reissued an outperform rating and issued a $94.00 price target on shares of Electronic Arts in a report on Thursday, April 20th. Finally, Bank of America Corporation reissued a neutral rating and issued a $104.00 price target on shares of Electronic Arts in a report on Monday, May 8th. Five investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $115.19.
Shares of Electronic Arts (NASDAQ EA) traded up 0.35% on Friday, hitting $116.88. The stock had a trading volume of 1,912,014 shares. The stock has a market cap of $36.08 billion, a P/E ratio of 31.29 and a beta of 0.72. Electronic Arts has a 12 month low of $73.74 and a 12 month high of $120.25. The firm has a 50 day moving average of $113.30 and a 200 day moving average of $100.72.
Electronic Arts (NASDAQ:EA) last posted its earnings results on Thursday, July 27th. The game software company reported $0.36 EPS for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.22. Electronic Arts had a return on equity of 29.77% and a net margin of 23.31%. The company had revenue of $775 million for the quarter, compared to the consensus estimate of $768.47 million. During the same period in the previous year, the business earned $0.07 earnings per share. Electronic Arts’s quarterly revenue was up 13.6% compared to the same quarter last year. On average, equities analysts forecast that Electronic Arts will post $4.24 earnings per share for the current fiscal year.
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Electronic Arts announced that its Board of Directors has authorized a stock buyback program on Tuesday, May 9th that authorizes the company to repurchase $1.20 billion in shares. This repurchase authorization authorizes the game software company to buy up to 45% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
In related news, Director Denise Warren sold 1,000 shares of the stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $108.84, for a total value of $108,840.00. Following the completion of the transaction, the director now owns 13,665 shares of the company’s stock, valued at $1,487,298.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Andrew Wilson sold 10,965 shares of the stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $108.00, for a total value of $1,184,220.00. The disclosure for this sale can be found here. Insiders sold 337,624 shares of company stock valued at $38,078,825 in the last ninety days. Company insiders own 2.55% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of EA. Guardian Life Insurance Co. of America increased its position in Electronic Arts by 2.9% in the first quarter. Guardian Life Insurance Co. of America now owns 1,190 shares of the game software company’s stock worth $107,000 after buying an additional 34 shares in the last quarter. ProVise Management Group LLC increased its position in Electronic Arts by 0.8% in the second quarter. ProVise Management Group LLC now owns 4,324 shares of the game software company’s stock worth $458,000 after buying an additional 36 shares in the last quarter. Jaffetilchin Investment Partners LLC increased its position in Electronic Arts by 0.9% in the first quarter. Jaffetilchin Investment Partners LLC now owns 4,943 shares of the game software company’s stock worth $442,000 after buying an additional 45 shares in the last quarter. San Francisco Sentry Investment Group CA increased its position in Electronic Arts by 1.4% in the first quarter. San Francisco Sentry Investment Group CA now owns 4,962 shares of the game software company’s stock worth $444,000 after buying an additional 67 shares in the last quarter. Finally, NEXT Financial Group Inc increased its position in Electronic Arts by 0.6% in the second quarter. NEXT Financial Group Inc now owns 12,316 shares of the game software company’s stock worth $1,302,000 after buying an additional 70 shares in the last quarter. 97.31% of the stock is owned by hedge funds and other institutional investors.
About Electronic Arts
Electronic Arts Inc develops, markets, publishes and distributes games, content and services that can be played by consumers on a range of platforms, which include consoles, personal computers (PCs), mobile phones and tablets. The Company’s games and services are based on a portfolio of intellectual property that includes established brands, such as FIFA, Madden NFL, Star Wars, Battlefield, the Sims and Need for Speed.
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