Robert W. Baird Issues Pessimistic Forecast for Electronic Arts (NASDAQ:EA) Stock Price

Electronic Arts (NASDAQ:EA) had its price target cut by Robert W. Baird from $175.00 to $158.00 in a report issued on Thursday,Benzinga reports. They currently have an outperform rating on the game software company’s stock.

Other analysts have also issued reports about the stock. Oppenheimer reduced their price target on shares of Electronic Arts from $170.00 to $165.00 and set an “outperform” rating for the company in a research note on Tuesday. UBS Group upped their target price on Electronic Arts from $155.00 to $160.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Benchmark reiterated a “buy” rating and set a $163.00 price target on shares of Electronic Arts in a research report on Wednesday, October 30th. Raymond James lowered Electronic Arts from an “outperform” rating to a “market perform” rating in a report on Thursday. Finally, DZ Bank raised Electronic Arts from a “hold” rating to a “buy” rating and lifted their target price for the stock from $135.00 to $177.00 in a report on Thursday, October 31st. Eleven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $159.79.

Electronic Arts Price Performance

Shares of EA opened at $118.58 on Thursday. The firm has a market capitalization of $31.10 billion, a price-to-earnings ratio of 30.48, a price-to-earnings-growth ratio of 1.88 and a beta of 0.80. The stock’s fifty day moving average is $153.33 and its 200-day moving average is $148.99. Electronic Arts has a one year low of $115.45 and a one year high of $168.50. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.43 and a current ratio of 1.43.

Electronic Arts Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $0.76 dividend on an annualized basis and a yield of 0.64%. Electronic Arts’s payout ratio is presently 19.54%.

Insider Activity

In other Electronic Arts news, insider Laura Miele sold 2,500 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $158.03, for a total transaction of $395,075.00. Following the transaction, the insider now owns 50,433 shares in the company, valued at $7,969,926.99. This trade represents a 4.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Andrew Wilson sold 5,000 shares of the firm’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $142.68, for a total transaction of $713,400.00. Following the completion of the transaction, the chief executive officer now owns 42,615 shares in the company, valued at $6,080,308.20. The trade was a 10.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,000 shares of company stock worth $3,986,385 in the last 90 days. Company insiders own 0.22% of the company’s stock.

Hedge Funds Weigh In On Electronic Arts

Several large investors have recently made changes to their positions in EA. Huntington National Bank increased its holdings in shares of Electronic Arts by 983.4% during the 3rd quarter. Huntington National Bank now owns 257,902 shares of the game software company’s stock worth $36,993,000 after purchasing an additional 234,098 shares during the period. Dai ichi Life Insurance Company Ltd lifted its stake in Electronic Arts by 20.8% during the third quarter. Dai ichi Life Insurance Company Ltd now owns 64,170 shares of the game software company’s stock worth $9,205,000 after purchasing an additional 11,058 shares during the period. Nomura Asset Management Co. Ltd. boosted its holdings in Electronic Arts by 5.9% during the third quarter. Nomura Asset Management Co. Ltd. now owns 84,200 shares of the game software company’s stock valued at $12,078,000 after purchasing an additional 4,702 shares in the last quarter. Greenwood Capital Associates LLC acquired a new position in shares of Electronic Arts in the 3rd quarter worth approximately $5,597,000. Finally, Chesapeake Capital Corp IL bought a new position in shares of Electronic Arts during the 3rd quarter worth approximately $950,000. Institutional investors and hedge funds 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.