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 license games from others, including FIFA, Madden NFL, UFC, and Star Wars brands. The company licenses its games to third parties to distribute and host its games. It markets and sells its games and services through digital distribution and retail channels, as well as directly to mass market retailers, specialty stores, and distribution arrangements. Electronic Arts Inc. was incorporated in 1982 and is headquartered in Redwood City, California.
Analysts Set New Price Targets
A number of research firms recently issued reports on EA. The Goldman Sachs Group lifted their target price on Electronic Arts from $125.00 to $133.00 and gave the company a "neutral" rating in a research report on Thursday, June 9th. Cowen decreased their target price on Electronic Arts from $180.00 to $158.00 in a research report on Wednesday, May 11th. Credit Suisse Group cut their price target on Electronic Arts from $159.00 to $154.00 and set an "outperform" rating for the company in a research note on Wednesday. Wells Fargo & Company boosted their price target on Electronic Arts from $145.00 to $155.00 and gave the company a "maintains" rating in a research note on Thursday. Finally, Bank of America boosted their price target on Electronic Arts from $148.00 to $155.00 and gave the company a "buy" rating in a research note on Wednesday. Four analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $154.13.
Electronic Arts Stock Performance
Shares of NASDAQ:EA traded down $0.68 during midday trading on Friday, reaching $132.56. The company's stock had a trading volume of 1,178,665 shares, compared to its average volume of 1,658,555. Electronic Arts has a 12-month low of $109.24 and a 12-month high of $147.76. The firm has a 50 day moving average price of $129.68 and a 200-day moving average price of $128.27. The stock has a market capitalization of $37.06 billion, a P/E ratio of 41.95, a PEG ratio of 4.09 and a beta of 0.84. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.24 and a quick ratio of 1.18.
Electronic Arts (NASDAQ:EA - Get Rating) last posted its quarterly earnings data on Tuesday, May 10th. The game software company reported $0.82 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.22). Electronic Arts had a net margin of 12.43% and a return on equity of 17.86%. The firm had revenue of $1.75 billion during the quarter, compared to analysts' expectations of $1.77 billion. During the same quarter in the previous year, the company posted $0.72 EPS. Electronic Arts's revenue for the quarter was up 17.5% on a year-over-year basis. As a group, equities analysts predict that Electronic Arts will post 5.45 earnings per share for the current year.
Electronic Arts Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 21st. Shareholders of record on Wednesday, August 31st will be issued a dividend of $0.19 per share. The ex-dividend date is Tuesday, August 30th. This represents a $0.76 dividend on an annualized basis and a yield of 0.57%. Electronic Arts's payout ratio is 24.05%.
Insider Buying and Selling at Electronic Arts
In other Electronic Arts news, insider Chris Bruzzo sold 2,000 shares of the business's stock in a transaction on Wednesday, May 18th. The shares were sold at an average price of $128.39, for a total transaction of $256,780.00. Following the sale, the insider now owns 27,524 shares of the company's stock, valued at approximately $3,533,806.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, COO Laura Miele sold 1,500 shares of the company's stock in a transaction on Monday, August 1st. The shares were sold at an average price of $130.77, for a total value of $196,155.00. Following the transaction, the chief operating officer now owns 33,700 shares of the company's stock, valued at $4,406,949. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Chris Bruzzo sold 2,000 shares of the company's stock in a transaction on Wednesday, May 18th. The stock was sold at an average price of $128.39, for a total transaction of $256,780.00. Following the completion of the transaction, the insider now directly owns 27,524 shares in the company, valued at approximately $3,533,806.36. The disclosure for this sale can be found here. Insiders have sold 58,895 shares of company stock valued at $7,692,454 in the last 90 days. 0.37% of the stock is currently owned by company insiders.
