Electronic Arts (NASDAQ:EA) Given New $158.00 Price Target at Cowen

Electronic Arts (NASDAQ:EAGet Rating) had its target price lowered by Cowen from $180.00 to $158.00 in a research report released on Wednesday, The Fly reports.

A number of other research analysts also recently commented on the stock. Sanford C. Bernstein started coverage on shares of Electronic Arts in a research report on Friday, April 22nd. They set an outperform rating and a $157.00 price objective on the stock. Raymond James reduced their price objective on shares of Electronic Arts from $158.00 to $150.00 in a research note on Wednesday. Credit Suisse Group reduced their price objective on shares of Electronic Arts from $169.00 to $162.00 in a research note on Wednesday. TheStreet cut shares of Electronic Arts from a b rating to a c+ rating in a research note on Tuesday, February 1st. Finally, MKM Partners reduced their price objective on shares of Electronic Arts from $172.00 to $162.00 and set a buy rating for the company in a research note on Wednesday, February 2nd. Six equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Buy and an average target price of $156.88.

Shares of Electronic Arts stock traded up $0.68 during trading hours on Wednesday, reaching $121.17. The company’s stock had a trading volume of 44,158 shares, compared to its average volume of 2,352,371. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.20 and a current ratio of 1.20. Electronic Arts has a one year low of $109.24 and a one year high of $148.93. The company’s 50 day simple moving average is $123.57 and its 200 day simple moving average is $129.53. The stock has a market cap of $34.08 billion, a P/E ratio of 54.27, a price-to-earnings-growth ratio of 1.51 and a beta of 0.83.

Electronic Arts (NASDAQ:EAGet Rating) last released its quarterly earnings results on Tuesday, May 10th. The game software company reported $0.80 EPS for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.63). Electronic Arts had a return on equity of 18.59% and a net margin of 9.83%. The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter last year, the firm posted $0.72 earnings per share. The firm’s quarterly revenue was up 17.5% compared to the same quarter last year. On average, sell-side analysts predict that Electronic Arts will post 5.42 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 22nd. Stockholders of record on Wednesday, June 8th will be issued a $0.19 dividend. This is a positive change from Electronic Arts’s previous quarterly dividend of $0.17. This represents a $0.76 annualized dividend and a dividend yield of 0.63%. Electronic Arts’s dividend payout ratio is presently 30.63%.

In other news, insider Vijayanthimala Singh sold 800 shares of the company’s stock in a transaction dated Tuesday, March 1st. The shares were sold at an average price of $130.55, for a total value of $104,440.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Laura Miele sold 3,100 shares of the stock in a transaction dated Monday, May 2nd. The stock was sold at an average price of $119.23, for a total transaction of $369,613.00. Following the sale, the chief operating officer now directly owns 20,329 shares in the company, valued at approximately $2,423,826.67. The disclosure for this sale can be found here. In the last ninety days, insiders sold 44,700 shares of company stock worth $5,647,859. 0.65% of the stock is owned by insiders.

A number of large investors have recently modified their holdings of EA. Equitec Proprietary Markets LLC acquired a new position in Electronic Arts during the 4th quarter valued at about $25,000. Tortoise Investment Management LLC lifted its position in Electronic Arts by 294.1% during the 1st quarter. Tortoise Investment Management LLC now owns 201 shares of the game software company’s stock valued at $25,000 after purchasing an additional 150 shares during the period. Industrial Alliance Investment Management Inc. acquired a new position in Electronic Arts during the 4th quarter valued at about $28,000. Old North State Trust LLC lifted its position in Electronic Arts by 59.2% during the 4th quarter. Old North State Trust LLC now owns 242 shares of the game software company’s stock valued at $32,000 after purchasing an additional 90 shares during the period. Finally, Tyler Stone Wealth Management acquired a new position in Electronic Arts during the 4th quarter valued at about $33,000. 89.28% of the stock is currently owned by hedge funds and other institutional investors.

Electronic Arts Company Profile (Get Rating)

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 Plants vs.

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