GameStop Corp. (NYSE:GME) – Equities researchers at Wedbush decreased their Q1 2020 earnings per share (EPS) estimates for shares of GameStop in a report released on Wednesday, April 3rd. Wedbush analyst M. Pachter now expects that the company will earn $0.00 per share for the quarter, down from their prior estimate of $0.39. Wedbush has a “Outperform” rating and a $12.00 price target on the stock. Wedbush also issued estimates for GameStop’s Q2 2020 earnings at ($0.10) EPS and FY2020 earnings at $2.00 EPS.
GameStop (NYSE:GME) last released its quarterly earnings data on Tuesday, April 2nd. The company reported $1.45 EPS for the quarter, missing the Zacks’ consensus estimate of $1.59 by ($0.14). GameStop had a positive return on equity of 14.49% and a negative net margin of 7.71%. The company had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.28 billion. During the same period last year, the firm earned $2.02 earnings per share. The company’s revenue for the quarter was down 7.6% compared to the same quarter last year.
Other research analysts have also issued research reports about the stock. ValuEngine upgraded shares of GameStop from a “sell” rating to a “hold” rating in a research note on Thursday. Credit Suisse Group lowered their price target on shares of GameStop from $11.00 to $10.00 and set an “underperform” rating on the stock in a report on Wednesday. Bank of America cut their price objective on shares of GameStop from $9.00 to $5.00 and set an “underperform” rating for the company in a research report on Wednesday. Telsey Advisory Group reduced their price objective on GameStop from $11.00 to $10.00 and set a “market perform” rating for the company in a report on Wednesday. Finally, Jefferies Financial Group set a $12.00 target price on GameStop and gave the company a “hold” rating in a research report on Friday, March 22nd. Four analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $11.22.
NYSE GME opened at $9.86 on Friday. The stock has a market cap of $1.01 billion, a PE ratio of 4.61 and a beta of 0.65. The company has a quick ratio of 0.30, a current ratio of 1.43 and a debt-to-equity ratio of 0.35. GameStop has a 52-week low of $8.82 and a 52-week high of $17.27.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a $0.38 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 15.42%. GameStop’s payout ratio is presently 71.03%.
Hedge funds have recently added to or reduced their stakes in the stock. Complex Capital Management LLC acquired a new position in shares of GameStop during the 4th quarter worth approximately $1,262,000. Water Island Capital LLC acquired a new stake in shares of GameStop during the 4th quarter worth $2,225,000. Kentucky Retirement Systems bought a new position in shares of GameStop in the third quarter worth $475,000. Advisors Asset Management Inc. increased its position in shares of GameStop by 3.4% in the fourth quarter. Advisors Asset Management Inc. now owns 1,435,754 shares of the company’s stock worth $18,119,000 after purchasing an additional 47,817 shares during the period. Finally, Prudential Financial Inc. raised its stake in GameStop by 10.3% in the third quarter. Prudential Financial Inc. now owns 188,897 shares of the company’s stock valued at $2,884,000 after purchasing an additional 17,580 shares in the last quarter. Institutional investors and hedge funds own 98.74% of the company’s stock.
GameStop Corp. operates as a multichannel video game, consumer electronics, and wireless services retailer. It operates in five segments: United States, Canada, Australia, Europe, and Technology Brands. The company sells new and pre-owned video game hardware; video game software; pre-owned and value video games; video game accessories, including controllers, gaming headsets, virtual reality products, memory cards, and other add-ons; and digital products, such as downloadable content, network points cards, prepaid digital and prepaid subscription cards, and digitally downloadable software.
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