Electronic Arts (NASDAQ:EA) Downgraded by Citigroup

Citigroup lowered shares of Electronic Arts (NASDAQ:EA) from a buy rating to a neutral rating in a report published on Monday morning, Marketbeat Ratings reports. Citigroup currently has $161.00 price objective on the game software company’s stock, up from their previous price objective of $148.00.

A number of other research analysts have also recently weighed in on the company. Wedbush restated an outperform rating and issued a $162.00 price target on shares of Electronic Arts in a research report on Wednesday, May 8th. Benchmark reaffirmed a buy rating and set a $153.00 price objective on shares of Electronic Arts in a research note on Thursday, April 18th. StockNews.com raised Electronic Arts from a hold rating to a buy rating in a research note on Wednesday, June 26th. UBS Group decreased their price objective on Electronic Arts from $146.00 to $143.00 and set a neutral rating on the stock in a research note on Wednesday, March 27th. Finally, Stifel Nicolaus increased their price objective on Electronic Arts from $150.00 to $163.00 and gave the company a buy rating in a research note on Monday, June 24th. Nine research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $151.33.

Electronic Arts Trading Down 0.3 %

Shares of EA stock opened at $146.52 on Monday. Electronic Arts has a fifty-two week low of $117.47 and a fifty-two week high of $148.22. The stock has a market cap of $38.94 billion, a P/E ratio of 31.31, a P/E/G ratio of 2.35 and a beta of 0.79. The business has a fifty day simple moving average of $136.72 and a 200-day simple moving average of $135.33. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.25.

Electronic Arts (NASDAQ:EA) last announced its quarterly earnings results on Tuesday, May 7th. The game software company reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.17). Electronic Arts had a net margin of 16.83% and a return on equity of 18.81%. The firm had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.78 billion. On average, analysts forecast that Electronic Arts will post 5.66 earnings per share for the current fiscal year.

Electronic Arts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 19th. Stockholders of record on Wednesday, May 29th were given a $0.19 dividend. The ex-dividend date was Wednesday, May 29th. This represents a $0.76 annualized dividend and a dividend yield of 0.52%. Electronic Arts’s payout ratio is 16.24%.

Insider Transactions at Electronic Arts

In other news, insider Vijayanthimala Singh sold 800 shares of Electronic Arts stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $126.64, for a total value of $101,312.00. Following the completion of the transaction, the insider now owns 26,283 shares in the company, valued at approximately $3,328,479.12. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Vijayanthimala Singh sold 800 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $126.64, for a total transaction of $101,312.00. Following the completion of the transaction, the insider now owns 26,283 shares in the company, valued at approximately $3,328,479.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Andrew Wilson sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $127.19, for a total value of $317,975.00. Following the transaction, the chief executive officer now owns 23,430 shares of the company’s stock, valued at approximately $2,980,061.70. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,039 shares of company stock worth $3,517,006. 0.22% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. North Star Investment Management Corp. boosted its position in Electronic Arts by 333.3% during the 1st quarter. North Star Investment Management Corp. now owns 195 shares of the game software company’s stock worth $26,000 after acquiring an additional 150 shares during the period. Cape Investment Advisory Inc. boosted its position in Electronic Arts by 102.0% during the 4th quarter. Cape Investment Advisory Inc. now owns 200 shares of the game software company’s stock worth $27,000 after acquiring an additional 101 shares during the period. Redmont Wealth Advisors LLC acquired a new position in Electronic Arts during the 1st quarter worth $27,000. Opal Wealth Advisors LLC acquired a new position in Electronic Arts during the 2nd quarter worth $28,000. Finally, Larson Financial Group LLC acquired a new position in Electronic Arts during the 4th quarter worth $30,000. Institutional investors and hedge funds own 90.23% 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. 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.