Electronic Arts Inc. (EA) Expected to Announce Quarterly Sales of $731.09 Million

Wall Street brokerages expect Electronic Arts Inc. (NASDAQ:EA) to announce sales of $731.09 million for the current fiscal quarter, according to Zacks. Eight analysts have made estimates for Electronic Arts’ earnings, with the lowest sales estimate coming in at $690.00 million and the highest estimate coming in at $790.00 million. Electronic Arts posted sales of $798.00 million during the same quarter last year, which suggests a negative year-over-year growth rate of 8.4%. The company is expected to issue its next quarterly earnings report on Thursday, July 25th.

On average, analysts expect that Electronic Arts will report full-year sales of $5.18 billion for the current financial year, with estimates ranging from $5.10 billion to $5.45 billion. For the next financial year, analysts forecast that the firm will post sales of $5.47 billion, with estimates ranging from $5.12 billion to $6.04 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Electronic Arts.

Electronic Arts (NASDAQ:EA) last posted its earnings results on Tuesday, May 7th. The game software company reported $1.21 EPS for the quarter, topping the consensus estimate of $0.78 by $0.43. Electronic Arts had a net margin of 20.59% and a return on equity of 22.62%. The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same period last year, the company earned $1.31 EPS. The firm’s revenue was up 8.7% compared to the same quarter last year.

EA has been the subject of several research analyst reports. Robert W. Baird lowered their price objective on shares of Electronic Arts from $154.00 to $90.00 in a research note on Wednesday, February 6th. MKM Partners decreased their price target on shares of Electronic Arts to $112.00 and set a “buy” rating for the company in a research note on Wednesday, January 30th. Wedbush restated a “buy” rating and set a $111.00 price target (down previously from $133.00) on shares of Electronic Arts in a research note on Wednesday, January 30th. Benchmark decreased their price target on shares of Electronic Arts from $153.00 to $120.00 and set a “buy” rating for the company in a research note on Wednesday, February 6th. They noted that the move was a valuation call. Finally, BMO Capital Markets restated a “buy” rating and set a $96.00 price target on shares of Electronic Arts in a research note on Thursday, February 7th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty have assigned a buy rating to the stock. Electronic Arts has a consensus rating of “Buy” and a consensus target price of $111.32.

NASDAQ:EA traded down $3.14 during mid-day trading on Monday, hitting $94.12. 69,534 shares of the company’s stock were exchanged, compared to its average volume of 4,629,453. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.82 and a quick ratio of 2.99. Electronic Arts has a fifty-two week low of $73.91 and a fifty-two week high of $151.26. The company has a market cap of $29.14 billion, a PE ratio of 23.97, a P/E/G ratio of 1.56 and a beta of 1.12.

In related news, insider Laura Miele sold 1,250 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $96.56, for a total value of $120,700.00. Following the sale, the insider now directly owns 5,758 shares in the company, valued at approximately $555,992.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Jacob J. Schatz sold 7,000 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $96.86, for a total value of $678,020.00. Following the completion of the sale, the general counsel now owns 19,168 shares in the company, valued at $1,856,612.48. The disclosure for this sale can be found here. Insiders have sold a total of 74,900 shares of company stock worth $7,451,948 over the last ninety days. Insiders own 2.24% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Icon Wealth Partners LLC bought a new position in shares of Electronic Arts in the first quarter worth approximately $28,000. North Star Investment Management Corp. purchased a new stake in Electronic Arts in the first quarter worth approximately $29,000. Baystate Wealth Management LLC boosted its stake in Electronic Arts by 373.1% in the fourth quarter. Baystate Wealth Management LLC now owns 317 shares of the game software company’s stock worth $29,000 after buying an additional 250 shares in the last quarter. Ropes Wealth Advisors LLC purchased a new stake in Electronic Arts in the first quarter worth approximately $34,000. Finally, Berman Capital Advisors LLC boosted its stake in Electronic Arts by 70.6% in the first quarter. Berman Capital Advisors LLC now owns 343 shares of the game software company’s stock worth $34,000 after buying an additional 142 shares in the last quarter. Hedge funds and other institutional investors own 92.60% of the company’s stock.

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, Mass Effect, Need for Speed, The Sims, and Plants v.

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

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