GameStop Corp. Receives “Hold” Rating from Benchmark Co. (GME)
GameStop Corp. (NYSE:GME)‘s stock had its “hold” rating reiterated by equities research analysts at Benchmark Co. in a research note issued to investors on Friday. They currently have a $34.71 target price on the stock, down from their previous target price of $34.77. Benchmark Co.’s price target indicates a potential downside of 5.88% from the stock’s previous close.
GameStop Corp. (NYSE:GME) traded up 5.10% during mid-day trading on Friday, hitting $38.76. The stock had a trading volume of 1,685,569 shares. GameStop Corp. has a 52-week low of $30.94 and a 52-week high of $57.74. The stock’s 50-day moving average is $39.57 and its 200-day moving average is $42.23. The company has a market cap of $4.469 billion and a price-to-earnings ratio of 12.33. GameStop Corp. also saw some unusual options trading activity on Wednesday. Traders purchased 18,237 call options on the company. This represents an increase of 703% compared to the typical volume of 2,270 call options.
GameStop Corp. (NYSE:GME) last posted its quarterly earnings results on Thursday, May 22nd. The company reported $0.59 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.57 by $0.02. The company had revenue of $2.00 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the prior year, the company posted $0.46 earnings per share. The company’s quarterly revenue was up 7.0% on a year-over-year basis. Analysts expect that GameStop Corp. will post $3.70 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, June 17th. Investors of record on Wednesday, June 4th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 3.58%.
A number of other analysts have also recently weighed in on GME. Analysts at Ascendiant Capital Markets raised their price target on shares of GameStop Corp. from $53.00 to $54.00 in a research note on Friday. They now have a “buy” rating on the stock. Separately, analysts at BofA Merrill Lynch upgraded shares of GameStop Corp. from a “neutral” rating to a “buy” rating in a research note on Sunday, April 6th. They now have a $56.00 price target on the stock, up previously from $43.00. Finally, analysts at Bank of America upgraded shares of GameStop Corp. from a “neutral” rating to a “buy” rating in a research note on Friday, April 4th. They now have a $56.00 price target on the stock, up previously from $43.00. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $50.61.
GameStop Corp. (NYSE:GME) is a holding company.
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