Roth Capital Weighs in on Electronic Arts Inc.’s FY2024 Earnings (NASDAQ:EA)

Electronic Arts Inc. (NASDAQ:EA) – Investment analysts at Roth Capital dropped their FY2024 earnings estimates for Electronic Arts in a report released on Wednesday, May 1st. Roth Capital analyst E. Handler now forecasts that the game software company will post earnings of $5.34 per share for the year, down from their prior forecast of $5.43. The consensus estimate for Electronic Arts’ current full-year earnings is $5.35 per share. Roth Capital also issued estimates for Electronic Arts’ Q4 2024 earnings at $1.08 EPS and FY2025 earnings at $5.67 EPS.

A number of other brokerages have also issued reports on EA. Oppenheimer reaffirmed an “outperform” rating and issued a $150.00 target price on shares of Electronic Arts in a research report on Tuesday, April 23rd. Wedbush reissued an “outperform” rating and set a $162.00 target price on shares of Electronic Arts in a research note on Thursday. Roth Mkm decreased their target price on shares of Electronic Arts from $140.00 to $135.00 and set a “neutral” rating for the company in a report on Wednesday. Stifel Nicolaus raised their price target on shares of Electronic Arts from $152.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, January 18th. Finally, BMO Capital Markets began coverage on Electronic Arts in a report on Tuesday, January 9th. They set an “outperform” rating and a $160.00 price target on the stock. Eight equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Electronic Arts currently has a consensus rating of “Moderate Buy” and an average price target of $146.72.

Electronic Arts Stock Up 0.8 %

NASDAQ EA opened at $129.56 on Friday. The stock has a market cap of $34.64 billion, a PE ratio of 32.61, a P/E/G ratio of 1.71 and a beta of 0.78. The business has a 50 day moving average price of $132.25 and a two-hundred day moving average price of $134.44. Electronic Arts has a fifty-two week low of $117.47 and a fifty-two week high of $144.53. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.25.

Electronic Arts (NASDAQ:EA) last released its quarterly earnings data on Tuesday, January 30th. The game software company reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.45 by ($1.38). Electronic Arts had a return on equity of 20.58% and a net margin of 14.09%. The business had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.40 billion. During the same quarter in the prior year, the firm earned $2.29 earnings per share. Electronic Arts’s quarterly revenue was up 1.0% compared to the same quarter last year.

Hedge Funds Weigh In On Electronic Arts

Institutional investors and hedge funds have recently made changes to their positions in the company. Mercer Global Advisors Inc. ADV grew its position in shares of Electronic Arts by 23.9% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 22,867 shares of the game software company’s stock valued at $2,753,000 after purchasing an additional 4,411 shares during the period. Value Partners Investments Inc. increased its position in shares of Electronic Arts by 33.5% during the fourth quarter. Value Partners Investments Inc. now owns 429,536 shares of the game software company’s stock worth $53,761,000 after acquiring an additional 107,709 shares in the last quarter. Metis Global Partners LLC raised its holdings in shares of Electronic Arts by 14.7% during the third quarter. Metis Global Partners LLC now owns 11,473 shares of the game software company’s stock worth $1,381,000 after acquiring an additional 1,469 shares during the period. Morgan Stanley lifted its position in Electronic Arts by 13.0% in the 3rd quarter. Morgan Stanley now owns 3,389,395 shares of the game software company’s stock valued at $408,084,000 after acquiring an additional 389,063 shares in the last quarter. Finally, West Family Investments Inc. acquired a new position in Electronic Arts in the 4th quarter worth $230,000. Institutional investors and hedge funds own 90.23% of the company’s stock.

Insider Transactions at Electronic Arts

In other Electronic Arts news, COO Laura Miele sold 2,000 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $128.15, for a total transaction of $256,300.00. Following the transaction, the chief operating officer now directly owns 32,772 shares in the company, valued at approximately $4,199,731.80. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Electronic Arts news, COO Laura Miele sold 2,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $128.15, for a total transaction of $256,300.00. Following the completion of the sale, the chief operating officer now owns 32,772 shares in the company, valued at approximately $4,199,731.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jeff Huber sold 11,872 shares of Electronic Arts stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $141.90, for a total value of $1,684,636.80. Following the sale, the director now directly owns 79,381 shares of the company’s stock, valued at $11,264,163.90. The disclosure for this sale can be found here. Insiders sold a total of 37,144 shares of company stock worth $5,087,143 over the last 90 days. 0.20% of the stock is owned by insiders.

Electronic Arts Company Profile

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.