Jefferies Financial Group Initiates Coverage on Electronic Arts (NASDAQ:EA)

Jefferies Financial Group initiated coverage on shares of Electronic Arts (NASDAQ:EA) in a research note issued on Thursday, BenzingaRatingsTable reports. The brokerage set a “hold” rating and a $100.00 price target on the game software company’s stock. Jefferies Financial Group’s price objective would suggest a potential upside of 7.74% from the company’s current price. Jefferies Financial Group also issued estimates for Electronic Arts’ Q2 2020 earnings at $0.62 EPS, Q3 2020 earnings at $1.93 EPS and Q4 2020 earnings at $1.23 EPS.

Other research analysts have also issued reports about the stock. Benchmark restated a “buy” rating and set a $80.00 price target (up from $72.00) on shares of Pegasystems in a research report on Wednesday, May 8th. BMO Capital Markets set a $75.00 price target on shares of Westlake Chemical and gave the company a “hold” rating in a research report on Tuesday, July 2nd. William Blair restated a “market perform” rating on shares of Luminex in a research report on Tuesday, May 7th. Stifel Nicolaus upgraded shares of Kimbell Royalty Partners from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a research report on Thursday, May 9th. Finally, Stephens set a $120.00 price target on shares of Electronic Arts and gave the company a “buy” rating in a research report on Monday, June 24th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and twenty have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $113.11.

Shares of EA stock opened at $92.82 on Thursday. The firm’s fifty day simple moving average is $94.89. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.82 and a quick ratio of 2.82. Electronic Arts has a 1 year low of $73.91 and a 1 year high of $151.26. The company has a market cap of $27.87 billion, a PE ratio of 23.62, a price-to-earnings-growth ratio of 1.51 and a beta of 1.04.

Electronic Arts (NASDAQ:EA) last issued its earnings results on Tuesday, May 7th. The game software company reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $1.20 billion. During the same quarter in the previous year, the firm posted $1.31 EPS. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. As a group, analysts forecast that Electronic Arts will post 3.78 EPS for the current fiscal year.

In related news, CFO Blake J. Jorgensen sold 5,200 shares of the company’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $91.79, for a total value of $477,308.00. Following the completion of the transaction, the chief financial officer now directly owns 111,379 shares in the company, valued at $10,223,478.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Andrew Wilson sold 9,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $95.69, for a total transaction of $861,210.00. The disclosure for this sale can be found here. Insiders sold 102,544 shares of company stock valued at $10,006,838 over the last quarter. 2.18% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of EA. Norges Bank purchased a new stake in Electronic Arts during the fourth quarter valued at about $243,373,000. Two Sigma Advisers LP boosted its position in Electronic Arts by 13,042.7% during the fourth quarter. Two Sigma Advisers LP now owns 2,476,342 shares of the game software company’s stock valued at $195,408,000 after buying an additional 2,457,500 shares during the period. CI Investments Inc. boosted its position in Electronic Arts by 177,205.0% during the fourth quarter. CI Investments Inc. now owns 1,773,050 shares of the game software company’s stock valued at $139,911,000 after buying an additional 1,772,050 shares during the period. FMR LLC boosted its position in Electronic Arts by 10.8% during the first quarter. FMR LLC now owns 16,439,841 shares of the game software company’s stock valued at $1,670,780,000 after buying an additional 1,598,653 shares during the period. Finally, Marshall Wace North America L.P. boosted its position in Electronic Arts by 1,091.0% during the first quarter. Marshall Wace North America L.P. now owns 1,263,601 shares of the game software company’s stock valued at $128,421,000 after buying an additional 1,157,504 shares during the period. Institutional investors and hedge funds own 93.64% of the company’s stock.

About Electronic Arts

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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Analyst Recommendations for Electronic Arts (NASDAQ:EA)

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