Electronic Arts (NASDAQ:EA) Announces Earnings Results

Electronic Arts (NASDAQ:EA) announced its quarterly earnings results on Monday. The game software company reported $1.23 EPS for the quarter, beating the Zacks’ consensus estimate of $1.05 by $0.18, Fidelity Earnings reports. The business had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.39 billion. Electronic Arts had a net margin of 23.51% and a return on equity of 17.85%. Electronic Arts’s quarterly revenue was up 18.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.08 EPS.

Electronic Arts stock traded down $1.63 during midday trading on Wednesday, reaching $139.73. 416,954 shares of the stock traded hands, compared to its average volume of 2,656,283. The stock’s fifty day moving average is $139.59 and its 200-day moving average is $135.86. Electronic Arts has a 12 month low of $110.15 and a 12 month high of $150.30. The stock has a market cap of $40.19 billion, a P/E ratio of 31.06, a PEG ratio of 2.83 and a beta of 0.92. The company has a quick ratio of 2.75, a current ratio of 2.75 and a debt-to-equity ratio of 0.05.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 23rd. Investors of record on Wednesday, June 2nd will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 0.49%. Electronic Arts’s payout ratio is presently 14.29%.

Several analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft upped their target price on shares of Electronic Arts from $144.00 to $145.00 and gave the stock a “hold” rating in a research note on Thursday, January 14th. Wedbush upped their target price on shares of Electronic Arts from $162.50 to $175.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 3rd. Needham & Company LLC restated a “buy” rating and set a $165.00 price target on shares of Electronic Arts in a research report on Wednesday. Piper Sandler increased their price target on shares of Electronic Arts from $133.00 to $156.00 and gave the company a “neutral” rating in a research report on Wednesday, February 3rd. Finally, MKM Partners increased their price target on shares of Electronic Arts from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, February 3rd. Eleven investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Electronic Arts currently has a consensus rating of “Buy” and an average target price of $156.29.

In other news, Director Jay C. Hoag sold 90,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 11th. The stock was sold at an average price of $147.36, for a total value of $13,262,400.00. Following the completion of the sale, the director now directly owns 496 shares of the company’s stock, valued at approximately $73,090.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Jacob J. Schatz sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 17th. The shares were sold at an average price of $145.07, for a total value of $145,070.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 103,735 shares of company stock valued at $15,178,789. 0.92% of the stock is owned by corporate insiders.

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, The Sims, Apex Legends, Need for Speed, and Plants v.

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Earnings History for Electronic Arts (NASDAQ:EA)

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