Electronic Arts Inc. (NASDAQ:EA) Expected to Announce Quarterly Sales of $1.39 Billion


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Brokerages predict that Electronic Arts Inc. (NASDAQ:EA) will announce $1.39 billion in sales for the current fiscal quarter, Zacks reports. Nine analysts have made estimates for Electronic Arts’ earnings, with the lowest sales estimate coming in at $1.37 billion and the highest estimate coming in at $1.43 billion. Electronic Arts posted sales of $1.21 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 14.9%. The company is scheduled to report its next quarterly earnings results after the market closes on Tuesday, May 11th.

On average, analysts expect that Electronic Arts will report full-year sales of $6.07 billion for the current fiscal year, with estimates ranging from $5.84 billion to $6.13 billion. For the next financial year, analysts forecast that the company will post sales of $6.34 billion, with estimates ranging from $5.20 billion to $6.65 billion. Zacks’ sales averages are a mean average based on a survey of analysts that cover Electronic Arts.

Electronic Arts (NASDAQ:EA) last posted its quarterly earnings data on Monday, February 1st. The game software company reported $3.06 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.96 by $0.10. Electronic Arts had a net margin of 23.51% and a return on equity of 17.85%. The business had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.38 billion. During the same period in the previous year, the firm posted $2.52 earnings per share. The business’s revenue for the quarter was up 18.8% compared to the same quarter last year.

EA has been the subject of a number of research analyst reports. MKM Partners upped their price objective on shares of Electronic Arts from $160.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, February 3rd. Barclays lifted their price target on shares of Electronic Arts from $124.00 to $145.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 3rd. Atlantic Securities cut shares of Electronic Arts from an “overweight” rating to a “neutral” rating and set a $155.00 target price on the stock. in a research report on Thursday, February 4th. BMO Capital Markets lifted their price objective on shares of Electronic Arts from $127.00 to $143.00 and gave the company a “market perform” rating in a report on Friday, February 5th. Finally, Piper Sandler boosted their target price on Electronic Arts from $133.00 to $156.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 3rd. Eleven investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Electronic Arts has an average rating of “Buy” and a consensus target price of $153.29.

Electronic Arts stock traded down $4.12 during mid-day trading on Thursday, hitting $137.06. The company had a trading volume of 2,510,826 shares, compared to its average volume of 2,661,030. The company has a market capitalization of $39.42 billion, a price-to-earnings ratio of 30.53, a P/E/G ratio of 2.83 and a beta of 0.92. The company has a current ratio of 2.75, a quick ratio of 2.75 and a debt-to-equity ratio of 0.05. The company’s fifty day moving average is $137.83 and its 200-day moving average is $135.40. Electronic Arts has a 12-month low of $110.15 and a 12-month high of $150.30.

In other news, General Counsel Jacob J. Schatz sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, April 16th. The shares were sold at an average price of $142.11, for a total transaction of $142,110.00. Following the completion of the sale, the general counsel now owns 13,860 shares in the company, valued at approximately $1,969,644.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Vijayanthimala Singh sold 800 shares of the business’s stock in a transaction on Monday, March 1st. The shares were sold at an average price of $134.84, for a total value of $107,872.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 109,710 shares of company stock worth $16,046,419. 0.92% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SOA Wealth Advisors LLC. purchased a new position in shares of Electronic Arts in the fourth quarter valued at $28,000. Patriot Financial Group Insurance Agency LLC grew its holdings in Electronic Arts by 881.0% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 206 shares of the game software company’s stock valued at $30,000 after buying an additional 185 shares in the last quarter. Winslow Evans & Crocker Inc. increased its position in shares of Electronic Arts by 81.3% during the fourth quarter. Winslow Evans & Crocker Inc. now owns 223 shares of the game software company’s stock valued at $32,000 after buying an additional 100 shares during the period. McIlrath & Eck LLC lifted its holdings in shares of Electronic Arts by 72.9% in the fourth quarter. McIlrath & Eck LLC now owns 230 shares of the game software company’s stock worth $33,000 after buying an additional 97 shares in the last quarter. Finally, Jackson Grant Investment Advisers Inc. bought a new position in shares of Electronic Arts in the first quarter valued at approximately $33,000. 87.95% of the stock is currently owned by institutional investors and hedge funds.

Electronic Arts Company Profile

Electronic Arts Inc develops, markets, publishes, and distributes games, content, and services for game consoles, PCs, mobile phones, and tablets worldwide. The company develops and publishes games and services across various genres, such as sports, first-person shooter, action, role-playing, and simulation primarily under the Battlefield, The Sims, Apex Legends, Need for Speed, and Plants v.

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Earnings History and Estimates for Electronic Arts (NASDAQ:EA)

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