GameStop Corp. Stock Price Up 5.5% After Strong Earnings (GME)
GameStop Corp. (NYSE:GME) rose 5.5% during mid-day trading on Friday after the company announced better than expected quarterly earnings, AnalystRatingsNetwork.com reports. The company traded as high as $44.50 and last traded at $42.72, with a volume of 5,740,669 shares traded. The stock had previously closed at $40.49.
The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.04. The company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.64 billion. During the same quarter in the previous year, the company posted $0.09 earnings per share. The company’s revenue for the quarter was up 25.0% on a year-over-year basis.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, September 16th. Investors of record on Wednesday, September 3rd will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 3.26%.
Several analysts have recently commented on the stock. Analysts at Telsey Advisory Group raised their price target on shares of GameStop Corp. from $49.00 to $51.00 in a research note on Friday. They now have a “not rated” rating on the stock. Analysts at Benchmark Co. cut their price target on shares of GameStop Corp. from $34.71 to $33.00 in a research note on Monday. One analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $50.92.
The stock’s 50-day moving average is $42.06 and its 200-day moving average is $39.37. The company has a market cap of $4.849 billion and a P/E ratio of 12.95. GameStop Corp. also was the target of unusually large options trading on Thursday. Stock investors bought 11,760 call options on the stock. This is an increase of approximately 445% compared to the average daily volume of 2,158 call options.
GameStop Corp. (NYSE:GME) is a holding company.
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