Electronic Arts (NASDAQ:EA) Downgraded to Sell at BidaskClub

BidaskClub lowered shares of Electronic Arts (NASDAQ:EA) from a hold rating to a sell rating in a report released on Saturday morning, BidAskClub reports.

Several other analysts have also recently commented on the stock. Bank of America raised their price objective on shares of Electronic Arts from $100.00 to $102.00 and gave the company a neutral rating in a research note on Wednesday, July 31st. BMO Capital Markets reiterated an outperform rating and set a $130.00 price target (up previously from $116.00) on shares of Electronic Arts in a research note on Tuesday, July 2nd. Jefferies Financial Group set a $100.00 price objective on shares of Electronic Arts and gave the company a hold rating in a research note on Wednesday, July 31st. TheStreet upgraded shares of Electronic Arts from a c+ rating to a b rating in a research report on Tuesday, July 30th. Finally, Cowen upgraded shares of Electronic Arts from a market perform rating to an outperform rating and set a $104.00 target price for the company in a research report on Wednesday, July 31st. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-one have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of $110.64.

Shares of NASDAQ EA opened at $94.19 on Friday. The company has a quick ratio of 3.52, a current ratio of 3.52 and a debt-to-equity ratio of 0.15. Electronic Arts has a 52 week low of $73.91 and a 52 week high of $109.36. The firm has a 50-day moving average price of $96.13 and a 200 day moving average price of $94.42. The stock has a market capitalization of $27.37 billion, a price-to-earnings ratio of 23.97, a price-to-earnings-growth ratio of 4.30 and a beta of 0.95.

Electronic Arts (NASDAQ:EA) last announced its quarterly earnings data on Tuesday, July 30th. The game software company reported ($0.26) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.16) by ($0.10). Electronic Arts had a net margin of 42.75% and a return on equity of 19.63%. The company had revenue of $743.00 million during the quarter, compared to analyst estimates of $724.55 million. Equities research analysts expect that Electronic Arts will post 3.74 EPS for the current fiscal year.

In related news, CEO Andrew Wilson sold 9,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $95.07, for a total value of $855,630.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Blake J. Jorgensen sold 5,200 shares of the business’s stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $92.85, for a total transaction of $482,820.00. Following the completion of the sale, the chief financial officer now owns 93,875 shares of the company’s stock, valued at $8,716,293.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 58,774 shares of company stock valued at $5,609,608. Insiders own 2.18% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in EA. Nuveen Asset Management LLC grew its holdings in Electronic Arts by 24,877.3% in the second quarter. Nuveen Asset Management LLC now owns 3,698,642 shares of the game software company’s stock valued at $374,525,000 after purchasing an additional 3,683,834 shares during the period. FMR LLC grew its holdings in Electronic Arts by 10.8% in 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 purchasing an additional 1,598,653 shares during the period. Marshall Wace North America L.P. grew its holdings in Electronic Arts by 1,091.0% in 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 purchasing an additional 1,157,504 shares during the period. Invesco Ltd. grew its holdings in Electronic Arts by 15.7% in the second quarter. Invesco Ltd. now owns 6,715,803 shares of the game software company’s stock valued at $680,043,000 after purchasing an additional 913,279 shares during the period. Finally, Independent Franchise Partners LLP grew its holdings in Electronic Arts by 35.4% in the second quarter. Independent Franchise Partners LLP now owns 3,421,561 shares of the game software company’s stock valued at $346,467,000 after purchasing an additional 894,736 shares during the period. Hedge funds and other institutional investors own 92.42% 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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