Fossil, Electronic Arts: S&P Laggards
Electronic Arts shares fell 4.3% to $14.48 after the video game company gave a weak forecast for the June quarter.
After Monday's closing bell, the company forecasted a non-GAAP loss of 40 to 45 cents a share on revenue of $500 million for its fiscal first quarter. Wall Street was looking for a loss of 33 cents per share on revenue of $577 million in the period.
Shares of Electronic Arts hit a 52-week low Tuesday of $13.83. The stock's 52-week high of $26.13 was set on Nov. 4. Electronic Arts shares trade at a forward P/E of 10.81X; the average for toy companies is 14.93X. For comparison, Hasbro (HAS) has a higher forward P/E of 11.56X. Thirteen of the 27 analysts who cover Electronic Arts rate it at hold. Twelve analysts give the stock a buy rating and two rates it at sell. The stock has fallen 29.71% year to date. --Written by Alexandra Zendrian in New York.>To contact the writer of this article, click here: Alexandra Zendrian >To submit a news tip, send an email to: tips@thestreet.com. >To follow the writer on Twitter, go to Alexandra Zendrian.
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