Electronic Arts (NASDAQ:EA) Issues Quarterly Earnings Results

Electronic Arts (NASDAQ:EA) issued its quarterly earnings data on Monday. The game software company reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.76, FiscalAI reports. The company had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Electronic Arts had a return on equity of 23.41% and a net margin of 11.78%.

Electronic Arts Stock Performance

Shares of NASDAQ EA traded down $0.21 during mid-day trading on Tuesday, hitting $209.70. 48,626,728 shares of the company were exchanged, compared to its average volume of 2,613,220. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.22. The stock has a 50 day simple moving average of $205.21 and a 200-day simple moving average of $203.01. Electronic Arts has a 1-year low of $159.10 and a 1-year high of $210.20. The firm has a market cap of $52.92 billion, a price-to-earnings ratio of 60.09, a price-to-earnings-growth ratio of 2.35 and a beta of 0.64.

Analyst Ratings Changes

Several analysts recently commented on EA shares. Wall Street Zen upgraded shares of Electronic Arts to a “hold” rating in a research report on Saturday, June 6th. Argus downgraded shares of Electronic Arts from a “buy” rating to a “hold” rating in a research report on Thursday, May 28th. Zacks Research lowered shares of Electronic Arts from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Weiss Ratings raised shares of Electronic Arts from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, May 18th. Finally, Citigroup increased their target price on shares of Electronic Arts from $202.00 to $204.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Two investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Electronic Arts currently has an average rating of “Hold” and a consensus target price of $201.42.

Insider Transactions at Electronic Arts

In other news, CEO Andrew Wilson sold 5,066 shares of the firm’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $201.66, for a total value of $1,021,609.56. Following the completion of the sale, the chief executive officer owned 85,974 shares in the company, valued at approximately $17,337,516.84. This trade represents a 5.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Laura Miele sold 2,500 shares of Electronic Arts stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $203.10, for a total transaction of $507,750.00. Following the completion of the sale, the insider directly owned 73,513 shares in the company, valued at approximately $14,930,490.30. The trade was a 3.29% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 31,206 shares of company stock worth $6,292,058 over the last quarter. 0.24% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Electronic Arts

Hedge funds have recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. increased its holdings in shares of Electronic Arts by 150.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 316 shares of the game software company’s stock valued at $46,000 after purchasing an additional 190 shares in the last quarter. DV Equities LLC purchased a new stake in Electronic Arts during the fourth quarter worth about $64,000. MUFG Securities EMEA plc purchased a new stake in Electronic Arts during the second quarter worth about $108,000. Parkside Financial Bank & Trust grew its position in Electronic Arts by 8.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 931 shares of the game software company’s stock worth $190,000 after buying an additional 69 shares during the period. Finally, Alpha Family Trust acquired a new position in Electronic Arts during the fourth quarter worth about $200,000. Institutional investors and hedge funds own 90.23% of the company’s stock.

Electronic Arts Company Profile

Electronic Arts Inc (NASDAQ: EA) is a global interactive entertainment company headquartered in Redwood City, California. Founded in 1982 by Trip Hawkins, EA develops, publishes and distributes video games and related content for a variety of platforms, including consoles, personal computers and mobile devices. The company combines in-house development, partnerships and studio acquisitions to create and maintain a portfolio of entertainment properties and live-service experiences for players worldwide.

EA’s product lineup spans several well-known franchises and genres.