Electronic Arts (NASDAQ: EA) Updates Revenue Guidance for Q1 2023

Electronic Arts (NASDAQ: EA – Get Rating) released the latest information on revenue guidance for the first quarter of 2023 on Tuesday morning. The company’s consensus estimate of earnings per share was $ 0.83, while earnings guidance per share for the period ranged from $ 0.16 to $ 0.27. The company has released $ 1.2 billion to $ 1.25 billion in revenue guidance, compared to a consensus revenue estimate of $ 1.44 billion. Electronic Arts has also updated its 2023 guidance from $ 7.05 to $ 7.15 EPS.

EA shares opened on Tuesday for $ 140.35. The company has a market capitalization of $ 39.28 billion, a price-earnings ratio of 50.85, a price-earnings ratio of 2.29 and a beta of 0.81. Electronic Arts has a minimum annual price of $ 109.24 and a maximum annual price of $ 148.93. The company has a debt-to-capital ratio of 0.25, a current ratio of 1.18 and a quick ratio of 1.18. The 50-day simple moving average of stocks is $ 126.94 and the 200-day simple moving average is $ 128.61.

Electronic Arts (NASDAQ: EA – Get Rating) announced its financial results on Tuesday, May 10. Game software companies reported quarterly earnings per share (EPS) of $ 0.82, which is below the consensus estimate of $ 1.04 ($ 0.22). Electronic Arts had a return on equity of 18.99% and a net profit margin of 11.29%. The company’s first-quarter revenue was $ 1.75 billion, while a consensus estimate was $ 1.77 billion. In the same quarter of the previous year, the business posted an EPS of $ 0.72. The company’s revenue for the quarter increased 17.5% year-on-year. On average, stock analysts expect Electronic Arts to make a profit per share of 5.52 this year.

The company also recently announced a quarterly dividend to be paid on Wednesday, June 22nd. Registered shareholders on Wednesday, June 8th will be issued a dividend of $ 0.19. This is a boost from Electronic Arts’ previous quarterly dividend of $ 0.17. The ex-payment date is Tuesday, June 7. This equates to an annual dividend of $ 0.76 and a dividend yield of 0.54%. Electronic Arts’ Dividend Payment Rate (DPR) is currently 24.64%.

Recently, several research analysts have published a report on EA stocks. In a report Thursday, April 21, Stifel Nicolaus lowered the target price for Electronic Arts’ stock price from $ 165.00 to $ 155.00. In a report Wednesday, May 11, Robert W. Baird lowered the target price for Electronic Arts’ stock price from $ 165.00 to $ 140.00. In a report Wednesday, May 11, Wedbush lowered Electronic Arts’ share price target from $ 180.00 to $ 164.00. Deutsche Bank Akш lowered its stock price target for Electronic Arts from $ 170.00 to $ 165.00 in a report Wednesday, May 11. Finally, Raymond James lowered the Electronic Arts share price target from $ 158.00 to $ 150.00 in a report Wednesday, May 11. Five stock research analysts evaluated the stock on hold ratings and 17 issued buy ratings to the company. Based on MarketBeat data, Electronic Arts currently has an average rating of Buy and a consensus price target of $ 155.54.

In other news, CEO Andrew Wilson sold 10,000 shares of Electronic Arts in a transaction on Tuesday, March 29. The stock sold for an average price of $ 128.58 and a total of $ 1,285,800.00. This transaction was disclosed in a document submitted to the Securities and Exchange Commission. This document is available at this link. COO Laura Miele also sold 3,100 shares of the company in a transaction on Wednesday, June 1. The stock averaged $ 138.85 and sold for a total of $ 430,435.00. After closing the transaction, the Chief Operating Officer now directly owns 36,700 shares of the company (equivalent to approximately $ 5,095,795). Disclosure of this sale can be found here. In the last 90 days, insiders have sold 53,638 shares worth $ 6,984,354. 0.65% of the shares are owned by insiders.

Large investors have recently changed their ownership of the business. Forum Financial Management LP purchased a new position for Electronic Arts in the fourth quarter for approximately $ 336,000. Horizon Investments LLC increased its position in Electronic Arts by 21.2% in the first quarter. Horizon Investments LLC owns 2,568 shares of a gaming software company worth $ 325,000 after purchasing an additional 449 shares in the previous quarter. Engine No. 1 LLC’s cash management purchased a new position for Electronic Arts in the first quarter for approximately $ 301,000. Eudaimonia Partners LLC purchased a stake in Electronic Arts in the first quarter for approximately $ 282,000. Finally, Prelude Capital Management LLC purchased a stake in Electronic Arts in the first quarter for approximately $ 282,000. 89.28% of the shares are owned by institutional investors and hedge funds.

Profile of ElectronicArts Company (Get evaluation)

Electronic Arts Inc develops, sells, publishes, and distributes games, content, and services for game consoles, PCs, mobile phones, and tablets around the world. Mainly Battlefield, The Sims, Apex Legends, Need for Speed, Plant vs.

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Electronic Arts Revenue History and Estimates (NASDAQ: EA)

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