Bank of America Corp. Analysts Give GameStop Corp. (GME) a $37.00 Price Target
GameStop Corp. (NYSE:GME) has been assigned a $37.00 price target by equities research analysts at Bank of America Corp. in a research note issued to investors on Friday. The firm presently has a a “buy” rating on the stock. Bank of America Corp.’s target price suggests a potential upside of 38.68% from the stock’s current price.
A number of other research firms have also issued reports on GME. Piper Jaffray Cos. reissued an “outperform” rating and set a $41.00 target price on shares of GameStop Corp. in a research note on Friday, August 26th. Robert W. Baird reduced their target price on shares of GameStop Corp. from $42.00 to $40.00 and set an “outperform” rating for the company in a research note on Friday, August 26th. TheStreet raised shares of GameStop Corp. from a “hold” rating to a “buy” rating in a research note on Tuesday, August 23rd. Pacific Crest reissued a “hold” rating on shares of GameStop Corp. in a research note on Monday, August 22nd. Finally, Credit Suisse Group AG reissued a “hold” rating and set a $30.00 target price on shares of GameStop Corp. in a research note on Monday, August 22nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. GameStop Corp. has a consensus rating of “Buy” and a consensus price target of $36.71.
GameStop Corp. (NYSE:GME) remained flat at $26.68 during mid-day trading on Friday. 2,145,391 shares of the company traded hands. The company has a market capitalization of $2.77 billion, a price-to-earnings ratio of 7.03 and a beta of 1.08. The firm has a 50-day moving average price of $28.41 and a 200 day moving average price of $29.25. GameStop Corp. has a one year low of $24.33 and a one year high of $47.62.
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GameStop Corp. (NYSE:GME) last posted its earnings results on Thursday, August 25th. The company reported $0.27 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.27. The firm earned $1.63 billion during the quarter, compared to analyst estimates of $1.73 billion. GameStop Corp. had a net margin of 4.35% and a return on equity of 19.44%. GameStop Corp.’s revenue was down 7.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.31 EPS. Equities research analysts anticipate that GameStop Corp. will post $3.99 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 22nd. Investors of record on Friday, September 9th were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 5.55%. The ex-dividend date was Wednesday, September 7th. GameStop Corp.’s payout ratio is presently 39.05%.
In related news, EVP Michael Mauler acquired 10,000 shares of the stock in a transaction that occurred on Thursday, September 15th. The shares were purchased at an average cost of $26.91 per share, with a total value of $269,100.00. Following the completion of the transaction, the executive vice president now owns 120,922 shares of the company’s stock, valued at approximately $3,254,011.02. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.70% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC increased its position in shares of GameStop Corp. by 4.4% in the first quarter. Geode Capital Management LLC now owns 917,726 shares of the company’s stock worth $29,065,000 after buying an additional 39,043 shares during the last quarter. Credit Agricole S A increased its stake in GameStop Corp. by 87.9% in the first quarter. Credit Agricole S A now owns 33,162 shares of the company’s stock valued at $1,051,000 after buying an additional 15,509 shares in the last quarter. Oregon Public Employees Retirement Fund increased its stake in GameStop Corp. by 86.8% in the second quarter. Oregon Public Employees Retirement Fund now owns 84,878 shares of the company’s stock valued at $2,256,000 after buying an additional 39,442 shares in the last quarter. Prudential PLC increased its stake in GameStop Corp. by 10.0% in the first quarter. Prudential PLC now owns 275,000 shares of the company’s stock valued at $8,726,000 after buying an additional 25,000 shares in the last quarter. Finally, Genesee Valley Trust Co. increased its stake in GameStop Corp. by 18.4% in the second quarter. Genesee Valley Trust Co. now owns 34,586 shares of the company’s stock valued at $919,000 after buying an additional 5,380 shares in the last quarter.
GameStop Corp. Company Profile
GameStop Corp. is an omnichannel video game retailer. The Company sells video game hardware, physical and digital video game software, video game accessories, as well as mobile and consumer electronics products and other merchandise through its GameStop, EB Games and Micromania stores. The Company operates its business in four Video Game Brands segments: United States, Canada, Australia and Europe, and Technology Brands segment.
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