GameStop Corp. Stock Rating Lowered by Merrill Lynch (GME)
GameStop Corp. (NYSE:GME) was downgraded by research analysts at Merrill Lynch to a “neutral” rating in a report released on Wednesday, AR Network reports.
GameStop Corp. (NYSE:GME) traded up 1.82% during mid-day trading on Wednesday, hitting $36.97. The stock had a trading volume of 8,426,163 shares. GameStop Corp. has a 1-year low of $22.57 and a 1-year high of $57.74. The stock’s 50-day moving average is $47.17 and its 200-day moving average is $49.27. The company has a market cap of $4.281 billion and a price-to-earnings ratio of 10.97. GameStop Corp. also was the target of some unusual options trading on Monday. Investors purchased 39,397 call options on the company. This is an increase of approximately 601% compared to the average volume of 5,620 call options.
GameStop Corp. (NYSE:GME) last posted its quarterly earnings results 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.
Other equities research analysts have also recently issued reports about the stock. Analysts at Sterne Agee downgraded shares of GameStop Corp. to a “buy” rating in a research note to investors on Wednesday. They now have a $52.00 price target on the stock, down previously from $58.00. Separately, analysts at Needham & Company cut their price target on shares of GameStop Corp. from $60.00 to $55.00 in a research note to investors on Wednesday. They now have a “buy” rating on the stock. Finally, analysts at Bank of America Corp. downgraded shares of GameStop Corp. to a “neutral” rating in a research note to investors on Tuesday. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $53.62.
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.