GameStop Corp. Upgraded to Neutral by Monness Crespi & Hardt (GME)
GameStop Corp. (NYSE:GME) was upgraded by stock analysts at Monness Crespi & Hardt from a “sell” rating to a “neutral” rating in a report issued on Thursday, TheFlyOnTheWall.com reports.
The analysts wrote, “Our prediction that 2013 PS3 and Xbox 360 software sales would be materially weaker than Street expectations was wrong. GME’s Q3 guidance implies underlying software demand not entirely attributable to a strong title lineup. GME’s outlook is inconsistent with the dire PS3 guidance Sony offered for their current fiscal year and with ongoing Nintendo headwinds. This suggests that GME is taking more share than in any year since the full-court press rollout of PowerUp Rewards, the company’s loyalty program.”
A number of other firms have also recently commented on GME. Analysts at Oppenheimer raised their price target on shares of GameStop Corp. from $50.00 to $60.00 in a research note to investors on Tuesday. They now have an “outperform” rating on the stock. Separately, analysts at Sterne Agee raised their price target on shares of GameStop Corp. to $55.00 in a research note to investors on Monday. They now have a “buy” rating on the stock. Finally, analysts at SunTrust raised their price target on shares of GameStop Corp. from $44.00 to $54.00 in a research note to investors on Friday, August 16th. They now have a “buy” rating on the stock.
Two research analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $46.83.
GameStop Corp. (NYSE:GME) traded up 10.12% during mid-day trading on Thursday, hitting $52.44. The stock had a trading volume of 8,053,307 shares. GameStop Corp. has a 1-year low of $17.94 and a 1-year high of $51.36. The stock has a 50-day moving average of $45. and a 200-day moving average of $35.41. The company’s market cap is $6.169 billion. GameStop Corp. also was the target of unusually large options trading on Wednesday. Stock investors acquired 9,246 put options on the stock. This is an increase of approximately 162% compared to the typical volume of 3,531 put options.
GameStop Corp. (NYSE:GME) last announced its earnings results on Thursday, August 22nd. The company reported $0.09 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.04 by $0.05. The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter last year, the company posted $0.16 earnings per share. GameStop Corp.’s revenue was down 10.7% compared to the same quarter last year. Analysts expect that GameStop Corp. will post $3.15 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, September 19th. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $0.28 per share. This represents a $1.10 annualized dividend and a dividend yield of 2.31%.
GameStop Corp. (NYSE:GME) is a holding company.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.