Wells Fargo & Company Lowers Electronic Arts (NASDAQ:EA) Price Target to $145.00

Electronic Arts (NASDAQ:EAGet Rating) had its price target trimmed by Wells Fargo & Company from $155.00 to $145.00 in a research report sent to investors on Wednesday, The Fly reports.

Other equities research analysts also recently issued reports about the company. Sanford C. Bernstein began coverage on Electronic Arts in a research report on Friday, April 22nd. They set an outperform rating and a $157.00 price target on the stock. Wedbush cut their price target on Electronic Arts from $180.00 to $164.00 in a research report on Wednesday. Morgan Stanley lowered their target price on shares of Electronic Arts from $155.00 to $150.00 and set an equal weight rating on the stock in a research note on Wednesday, January 19th. TheStreet lowered shares of Electronic Arts from a b rating to a c+ rating in a research note on Tuesday, February 1st. Finally, Atlantic Securities raised shares of Electronic Arts from a neutral rating to an overweight rating and set a $160.00 target price on the stock in a research note on Wednesday, January 19th. Six investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Electronic Arts has an average rating of Buy and a consensus price target of $156.88.

Shares of EA stock traded down $0.20 during trading hours on Wednesday, reaching $120.29. 25,702 shares of the company’s stock were exchanged, compared to its average volume of 2,352,371. The stock’s 50 day moving average is $123.57 and its 200-day moving average is $129.53. The company has a market cap of $33.83 billion, a price-to-earnings ratio of 54.27, a P/E/G ratio of 1.51 and a beta of 0.83. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.25. Electronic Arts has a fifty-two week low of $109.24 and a fifty-two week high of $148.93.

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

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 22nd. Stockholders of record on Wednesday, June 8th will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.63%. This is an increase from Electronic Arts’s previous quarterly dividend of $0.17. Electronic Arts’s dividend payout ratio (DPR) is currently 30.63%.

In related news, CEO Andrew Wilson sold 10,000 shares of Electronic Arts stock in a transaction that occurred on Monday, February 28th. The shares were sold at an average price of $130.16, for a total value of $1,301,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Vijayanthimala Singh sold 800 shares of Electronic Arts stock in a transaction that occurred on Tuesday, March 1st. The shares were sold at an average price of $130.55, for a total transaction of $104,440.00. The disclosure for this sale can be found here. Insiders have sold a total of 44,700 shares of company stock valued at $5,647,859 in the last 90 days. Insiders own 0.65% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in EA. PNC Financial Services Group Inc. lifted its position in Electronic Arts by 0.8% in the first quarter. PNC Financial Services Group Inc. now owns 40,152 shares of the game software company’s stock valued at $5,081,000 after acquiring an additional 301 shares during the last quarter. Hancock Whitney Corp lifted its position in Electronic Arts by 30.3% in the first quarter. Hancock Whitney Corp now owns 14,515 shares of the game software company’s stock valued at $1,836,000 after acquiring an additional 3,372 shares during the last quarter. Private Advisor Group LLC lifted its position in Electronic Arts by 22.5% in the first quarter. Private Advisor Group LLC now owns 10,011 shares of the game software company’s stock valued at $1,266,000 after acquiring an additional 1,837 shares during the last quarter. Cetera Advisor Networks LLC lifted its position in Electronic Arts by 11.7% in the first quarter. Cetera Advisor Networks LLC now owns 3,466 shares of the game software company’s stock valued at $439,000 after acquiring an additional 363 shares during the last quarter. Finally, Cetera Advisors LLC lifted its position in Electronic Arts by 5.7% in the first quarter. Cetera Advisors LLC now owns 2,179 shares of the game software company’s stock valued at $276,000 after acquiring an additional 118 shares during the last quarter. 89.28% of the stock is owned by institutional investors and hedge funds.

About Electronic Arts (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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