Zacks Investment Research upgraded shares of Gamestop Corporation (NYSE:GME) from a sell rating to a hold rating in a research note published on Tuesday.
According to Zacks, “GameStop has underperformed the industry in the past three months. Dismal stock performance can primarily be attributed to the delay in launch of "Red Dead Redemption: 2" and less visibility for the demand of Nintendo Switch for the entire year, which forced management to keep its view intact despite reporting better-than-expected results in first-quarter fiscal 2017. Moreover, we noted that although the top line grew year over year, the bottom line continues to decline. The company continues to expect fiscal 2017 comps to be in the range of flat to down 5% and forecasts earnings in the range of $3.10–$3.40 per share. Meanwhile, management expects sturdy performance of Technology Brands and Collectibles to continue in fiscal 2017. Further, it expects to enhance collectibles business to approximately $650–$700 million during fiscal 2017 and anticipates becoming a $1 billion business by the end of fiscal 2019.”
GME has been the topic of several other research reports. Vetr downgraded Gamestop Corporation from a strong-buy rating to a buy rating and set a $26.42 price objective on the stock. in a report on Wednesday, April 26th. Telsey Advisory Group raised Gamestop Corporation from a market perform rating to an outperform rating in a report on Wednesday, May 10th. Oppenheimer Holdings, Inc. reaffirmed a hold rating on shares of Gamestop Corporation in a report on Thursday, May 25th. ValuEngine downgraded Gamestop Corporation from a buy rating to a hold rating in a report on Friday, June 2nd. Finally, Mizuho reaffirmed a buy rating and set a $27.00 target price on shares of Gamestop Corporation in a report on Saturday, May 27th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have issued a buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $24.84.
Gamestop Corporation (GME) traded up 1.35% during midday trading on Tuesday, reaching $21.76. The company had a trading volume of 1,619,257 shares. The stock has a 50-day moving average price of $21.35 and a 200 day moving average price of $22.97. Gamestop Corporation has a 12-month low of $20.10 and a 12-month high of $32.67. The company has a market capitalization of $2.20 billion, a PE ratio of 6.48 and a beta of 1.20.
Gamestop Corporation (NYSE:GME) last released its quarterly earnings data on Thursday, May 25th. The company reported $0.63 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.12. Gamestop Corporation had a return on equity of 17.55% and a net margin of 3.99%. The company had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter last year, the business posted $0.66 EPS. Gamestop Corporation’s revenue for the quarter was up 3.8% on a year-over-year basis. Equities analysts forecast that Gamestop Corporation will post $3.32 EPS for the current year.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Fairbanks Capital Management Inc. purchased a new stake in shares of Gamestop Corporation during the second quarter worth approximately $3,494,000. Westpac Banking Corp purchased a new stake in shares of Gamestop Corporation during the first quarter worth approximately $134,000. James Investment Research Inc. raised its stake in shares of Gamestop Corporation by 21.0% in the first quarter. James Investment Research Inc. now owns 4,630 shares of the company’s stock worth $104,000 after buying an additional 805 shares during the last quarter. Camarda Financial Advisors LLC raised its stake in shares of Gamestop Corporation by 9.4% in the second quarter. Camarda Financial Advisors LLC now owns 5,179 shares of the company’s stock worth $112,000 after buying an additional 447 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Gamestop Corporation by 126.9% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,616 shares of the company’s stock worth $149,000 after buying an additional 3,700 shares during the last quarter. 99.62% of the stock is owned by hedge funds and other institutional investors.
Gamestop Corporation Company Profile
GameStop Corp. is an omnichannel video game retailer. The Company sells video game hardware, physical and digital video game software, video game accessories, as well as mobile and consumer electronics products and other merchandise through its GameStop, EB Games and Micromania stores. It operates its business in five segments, which consists of four Video Game Brands segments: United States, Canada, Australia and Europe, and Technology Brands segment.
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