Electronic Arts shares tumble on Star Wars game delay

A man plays Star Wars Battlefront II on opening day of the Electronic Entertainment Expo (E3) at the Los Angeles Convention Center on June 13, 2017 in Los Angeles, California.

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A man plays Star Wars Battlefront II on opening day of the Electronic Entertainment Expo (E3) at the Los Angeles Convention Center on June 13, 2017 in Los Angeles, California.

Electronic Arts shares tumbled Wednesday after the game-maker announced the idea was postponing the Discharge of a Star Wars action title.

The company also said the idea was closing the studio in which had been working on the game. the idea will push back the Discharge date of the as-yet unnamed Star Wars action-adventure game, which had been slated for the fiscal-year 2019 starting in April.

The stock fell almost 3 percent Wednesday, to $112.39. The company confirmed press reports about the delayed timetable in addition to also studio closure after the market closed on Tuesday. The stock is actually still up more than 42 percent on the year.

Analysts at Atlantic Equities estimated the game would certainly sell about 8 million copies.

“While disappointing, in which is actually not a view changer,” they wrote, citing the company’s ability to generate sales off its existing portfolio. The analysts cut their fiscal year 2019 earnings per share estimate for the company by 2 percent, yet they still project solid growth, particularly as its FIFA soccer game franchise appears set to get a boost via the planet Cup.

Analysts at Wedbush kept an “outperform” rating on the company’s stock, which has a 12-month cost target of $136.00. Analysts at KeyBanc Capital Markets issued a note saying they were not revising their estimates for the stock because of uncertainty around whether EA would certainly move fresh titles to 2019 to compensate.

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