Video game developer and publisher Electronic Arts Inc. (ERTS), better known as EA, recently announced its latest offering Tiger Woods PGA TOUR 12: The Masters for personal computers (PCs), including Apple Inc.’s (AAPL) Macintosh platform for the first time in the company’s history.
Tiger Woods PGA TOUR 12: The Masters, which was originally released in the first quarter of this calendar year on Microsoft Corp.’s (MSFT) Xbox 360 and Sony Corp.’s (SNE) PlayStation 3 gaming systems, allows players to compete at the Augusta National Golf Club and offers new enhanced and innovative features.
The game also features 14 other courses in the world, including Royal Melbourne Golf Club (Australia), St. Andrews Links and Pebble Beach Golf Links.
The game is available in stores for a retail price of $39.99 and can also be purchased from EA’s Origin.com. The digital version of the game is also available on Origin.com exclusively for PC owners.
Besides playing the game, gamers will receive a three-month membership to Tiger Woods PGA TOUR Online, which will allow them to access enhanced features, such as expanded multi-player modes, additional courses and group tournaments.
The new game offers exciting features. Gamers can begin their career as amateurs and gradually play Q School, followed by the Nationwide Tour and ultimately the PGA TOUR. EA has integrated Origin in the PC version of the game, which allows gamers to receive automatic updates, faster download and instant chat with friends.
Moreover, Tiger Woods PGA Tour 12: The Masters allows players to start the game at one location and suspend it and resume the game at different locations through Origin.
Our Take
Electronic Arts has earned a name for developing and publishing quality games in the last few years. EA delivered 15 titles that were rated 80 or above by Metacritic in fiscal 2011. Tiger Woods PGA TOUR 12: The Masters is of the same genre and has gained significant customer response in the near term. We believe the new PC version with additional features is likely to boost its sales going forward.
However, a gloomy macro environment in North America and a debt-ridden European market will remain headwinds for the stock. This, along with competition from Activision Blizzard Inc. (ATVI) and Take-Two Interactive Software Inc. (TTWO) will likely hurt profitability going forward.
We maintain our Neutral rating over the long term (6-12 months). Currently, EA has a Zacks #2 Rank, which implies a Buy rating in the near term.
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