GameStop Corp.’s (GME) “Buy” Rating Reaffirmed at SunTrust Banks Inc.
GameStop Corp. (NYSE:GME)‘s stock had its “buy” rating reaffirmed by SunTrust Banks Inc. in a note issued to investors on Wednesday.
Other research analysts also recently issued reports about the company. Bank of America Corp. reissued a “buy” rating on shares of GameStop Corp. in a report on Sunday, July 17th. Wedbush set a $36.00 price target on GameStop Corp. and gave the company a “buy” rating in a report on Sunday, August 28th. Pacific Crest reissued a “hold” rating on shares of GameStop Corp. in a report on Sunday, August 28th. Vetr raised GameStop Corp. from a “buy” rating to a “strong-buy” rating and set a $33.63 price target for the company in a report on Tuesday, August 2nd. Finally, Robert W. Baird reissued an “outperform” rating and issued a $42.00 price target on shares of GameStop Corp. in a report on Wednesday, August 3rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. GameStop Corp. presently has an average rating of “Buy” and a consensus price target of $36.71.
GameStop Corp. (NYSE:GME) traded down 1.6466% on Wednesday, hitting $25.6899. 1,725,546 shares of the company were exchanged. The stock’s 50-day moving average price is $27.82 and its 200-day moving average price is $29.13. The stock has a market capitalization of $2.67 billion, a P/E ratio of 6.7730 and a beta of 1.08. GameStop Corp. has a 52-week low of $24.33 and a 52-week high of $47.62.
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GameStop Corp. (NYSE:GME) last announced its quarterly earnings results on Thursday, August 25th. The company reported $0.27 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.27. GameStop Corp. had a return on equity of 19.44% and a net margin of 4.35%. The company earned $1.63 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the previous year, the company posted $0.31 earnings per share. GameStop Corp.’s revenue for the quarter was down 7.4% on a year-over-year basis. On average, equities research analysts anticipate that GameStop Corp. will post $3.99 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 22nd. Stockholders of record on Friday, September 9th were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 5.67%. The ex-dividend date of this dividend was Wednesday, September 7th. GameStop Corp.’s dividend payout ratio is presently 39.05%.
In other GameStop Corp. news, EVP Michael Mauler purchased 10,000 shares of the stock in a transaction dated Thursday, September 15th. The stock was acquired at an average cost of $26.91 per share, for a total transaction of $269,100.00. Following the acquisition, the executive vice president now owns 120,922 shares in the company, valued at approximately $3,254,011.02. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 2.70% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Acrospire Investment Management LLC acquired a new position in GameStop Corp. during the first quarter worth $117,000. WFG Advisors LP boosted its position in shares of GameStop Corp. by 8.8% in the second quarter. WFG Advisors LP now owns 3,950 shares of the company’s stock worth $105,000 after buying an additional 320 shares during the period. BlueMountain Capital Management LLC purchased a new position in shares of GameStop Corp. during the first quarter worth approximately $156,000. Penserra Capital Management LLC boosted its position in shares of GameStop Corp. by 12.3% in the second quarter. Penserra Capital Management LLC now owns 4,938 shares of the company’s stock worth $131,000 after buying an additional 542 shares during the period. Finally, Seven Eight Capital LLC boosted its position in shares of GameStop Corp. by 95.3% in the first quarter. Seven Eight Capital LLC now owns 5,401 shares of the company’s stock worth $171,000 after buying an additional 2,635 shares during the period.
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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