Benchmark Boosts Electronic Arts (NASDAQ:EA) Price Target to $163.00

Electronic Arts (NASDAQ:EA) had its price objective raised by Benchmark from $153.00 to $163.00 in a research note issued to investors on Wednesday, Benzinga reports. They currently have a buy rating on the game software company’s stock.

Other research analysts have also issued reports about the company. JPMorgan Chase & Co. raised their price target on Electronic Arts from $148.00 to $155.00 and gave the stock a neutral rating in a research report on Monday, July 15th. StockNews.com raised shares of Electronic Arts from a hold rating to a buy rating in a research report on Wednesday, June 26th. Wedbush increased their price target on shares of Electronic Arts from $162.00 to $170.00 and gave the company an outperform rating in a research note on Wednesday. UBS Group raised their price objective on Electronic Arts from $143.00 to $155.00 and gave the stock a neutral rating in a report on Wednesday. Finally, Citigroup cut shares of Electronic Arts from a buy rating to a neutral rating and lifted their target price for the company from $148.00 to $161.00 in a report on Monday, July 15th. Nine equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $160.16.

Electronic Arts Price Performance

Shares of EA opened at $148.83 on Wednesday. The company’s fifty day moving average price is $140.16 and its 200-day moving average price is $135.98. Electronic Arts has a 1-year low of $117.47 and a 1-year high of $153.51. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.37 and a quick ratio of 1.37. The firm has a market capitalization of $39.55 billion, a PE ratio of 31.80, a price-to-earnings-growth ratio of 2.36 and a beta of 0.79.

Electronic Arts (NASDAQ:EA) last announced its earnings results on Tuesday, May 7th. The game software company reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.09 by ($0.17). The company had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.78 billion. Electronic Arts had a net margin of 15.77% and a return on equity of 16.26%. On average, equities research analysts predict that Electronic Arts will post 5.76 EPS for the current year.

Electronic Arts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 28th will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date of this dividend is Wednesday, August 28th. Electronic Arts’s dividend payout ratio is 16.24%.

Insider Buying and Selling at Electronic Arts

In other Electronic Arts news, CEO Andrew Wilson sold 2,500 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $142.42, for a total transaction of $356,050.00. Following the completion of the sale, the chief executive officer now directly owns 59,247 shares of the company’s stock, valued at approximately $8,437,957.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Andrew Wilson sold 2,500 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $142.42, for a total transaction of $356,050.00. Following the completion of the sale, the chief executive officer now directly owns 59,247 shares of the company’s stock, valued at approximately $8,437,957.74. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Stuart Canfield sold 3,000 shares of the company’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $145.00, for a total transaction of $435,000.00. Following the completion of the transaction, the chief financial officer now directly owns 7,553 shares of the company’s stock, valued at $1,095,185. The disclosure for this sale can be found here. Insiders have sold a total of 23,239 shares of company stock worth $3,197,469 over the last ninety days. Corporate insiders own 0.22% of the company’s stock.

Institutional Investors Weigh In On Electronic Arts

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of Electronic Arts by 14.7% in the 1st quarter. Vanguard Group Inc. now owns 29,159,718 shares of the game software company’s stock valued at $3,868,620,000 after purchasing an additional 3,727,251 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Electronic Arts by 496.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,511,250 shares of the game software company’s stock valued at $333,169,000 after acquiring an additional 2,090,504 shares in the last quarter. Norges Bank purchased a new stake in Electronic Arts during the fourth quarter worth about $281,054,000. Swedbank AB purchased a new position in shares of Electronic Arts during the 1st quarter valued at $201,935,000. Finally, Jericho Capital Asset Management L.P. purchased a new stake in shares of Electronic Arts during the 1st quarter valued at approximately $189,055,000. Institutional investors own 90.23% 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. 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.