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 objective by stock analysts at Bank of America Corp. in a research report issued on Friday. The firm presently has a a “buy” rating on the stock. Bank of America Corp.’s price target indicates a potential upside of 38.68% from the company’s previous close.
Several other research firms have also weighed in on GME. Pacific Crest reiterated a “hold” rating on shares of GameStop Corp. in a research note on Sunday, August 28th. Hilliard Lyons upgraded shares of GameStop Corp. from a “neutral” rating to a “buy” rating and set a $33.00 price objective on the stock in a research note on Friday, September 9th. Robert W. Baird reiterated an “outperform” rating and set a $40.00 price objective on shares of GameStop Corp. in a research note on Monday. Oppenheimer Holdings Inc. restated a “hold” rating on shares of GameStop Corp. in a research note on Wednesday, June 15th. Finally, Credit Suisse Group AG restated a “hold” rating and issued a $30.00 price target on shares of GameStop Corp. in a research note on Monday, August 22nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $36.71.
Shares of GameStop Corp. (NYSE:GME) traded up 0.15% during midday trading on Friday, hitting $26.72. The stock had a trading volume of 1,750,678 shares. The company has a market cap of $2.78 billion, a P/E ratio of 7.04 and a beta of 1.08. GameStop Corp. has a one year low of $24.33 and a one year high of $47.62. The firm has a 50 day moving average of $28.41 and a 200-day moving average of $29.25.
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GameStop Corp. (NYSE:GME) last released its quarterly earnings data on Thursday, August 25th. The company reported $0.27 earnings per share for the quarter, hitting the consensus estimate of $0.27. The firm had revenue of $1.63 billion for 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 quarterly revenue was down 7.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.31 earnings per share. On average, analysts forecast that GameStop Corp. will post $3.99 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 22nd. Shareholders of record on Friday, September 9th were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 5.55%. The ex-dividend date was Wednesday, September 7th. GameStop Corp.’s dividend payout ratio (DPR) is currently 39.05%.
In related news, EVP Michael Mauler bought 10,000 shares of the firm’s stock in a transaction on Thursday, September 15th. The stock was bought at an average price of $26.91 per share, with a total value of $269,100.00. Following the purchase, the executive vice president now directly owns 120,922 shares of the company’s stock, valued at approximately $3,254,011.02. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 2.70% of the company’s stock.
Large investors have recently modified their holdings of the stock. BlackRock Fund Advisors raised its stake in shares of GameStop Corp. by 121.9% in the second quarter. BlackRock Fund Advisors now owns 3,625,827 shares of the company’s stock worth $96,374,000 after buying an additional 1,991,782 shares during the period. TIAA CREF Investment Management LLC raised its stake in shares of GameStop Corp. by 90.9% in the first quarter. TIAA CREF Investment Management LLC now owns 2,420,176 shares of the company’s stock worth $76,792,000 after buying an additional 1,152,398 shares during the period. Norges Bank bought a new stake in shares of GameStop Corp. during the fourth quarter worth about $32,268,000. JPMorgan Chase & Co. raised its stake in shares of GameStop Corp. by 403.8% in the second quarter. JPMorgan Chase & Co. now owns 1,162,782 shares of the company’s stock worth $30,906,000 after buying an additional 931,985 shares during the period. Finally, State of New Jersey Common Pension Fund D raised its stake in shares of GameStop Corp. by 114.3% in the second quarter. State of New Jersey Common Pension Fund D now owns 1,500,000 shares of the company’s stock worth $39,870,000 after buying an additional 800,000 shares during the period.
About GameStop Corp.
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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