GameStop Corp. Stock Rating Lowered by Bank of America Corp. (GME)
GameStop Corp. (NYSE:GME) was downgraded by investment analysts at Bank of America Corp. to a “neutral” rating in a note issued to investors on Tuesday, American Banking and Market News reports.
GameStop Corp. (NYSE:GME) traded down 19.59% on Tuesday, hitting $36.44. 19,227,452 shares of the company’s stock traded hands. GameStop Corp. has a one year low of $22.57 and a one year high of $57.74. The stock has a 50-day moving average of $47.55 and a 200-day moving average of $49.31. The company has a market cap of $4.220 billion and a price-to-earnings ratio of 13.69. GameStop Corp. also saw unusually large options trading activity on Monday. Traders bought 39,397 call options on the stock. This is an increase of 601% compared to the average daily volume of 5,620 call options.
GameStop Corp. (NYSE:GME) last issued its quarterly earnings data on Thursday, November 21st. The company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.02. The company had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $1.98 billion. During the same quarter in the previous year, the company posted $0.38 earnings per share. The company’s revenue for the quarter was up 18.8% on a year-over-year basis. On average, analysts predict that GameStop Corp. will post $3.25 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Janney Montgomery Scott reiterated a “buy” rating on shares of GameStop Corp. in a research note to investors on Tuesday, January 7th. Separately, analysts at Stifel Nicolaus downgraded shares of GameStop Corp. from a “buy” rating to a “hold” rating in a research note to investors on Tuesday, January 7th. Finally, analysts at Benchmark Co. initiated coverage on shares of GameStop Corp. in a research note to investors on Thursday, December 19th. They set a “hold” rating and a $38.55 price target on the stock. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $53.53.
GameStop Corp. (NYSE:GME) is a holding company.
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