GameStop Corp.’s (GME) “Buy” Rating Reiterated at SunTrust Banks Inc.
GameStop Corp. (NYSE:GME)‘s stock had its “buy” rating restated by investment analysts at SunTrust Banks Inc. in a research report issued on Wednesday.
GME has been the topic of several other reports. Robert W. Baird reaffirmed an “outperform” rating and set a $42.00 target price on shares of GameStop Corp. in a report on Wednesday, August 3rd. Pacific Crest reaffirmed a “hold” rating on shares of GameStop Corp. in a report on Monday, August 22nd. Zacks Investment Research raised shares of GameStop Corp. from a “hold” rating to a “strong-buy” rating and set a $36.00 target price on the stock in a report on Wednesday, July 27th. Piper Jaffray Cos. reaffirmed an “outperform” rating and set a $41.00 target price on shares of GameStop Corp. in a report on Friday, August 26th. Finally, Wedbush set a $36.00 target price on shares of GameStop Corp. and gave the stock a “buy” rating in a report on Sunday, August 28th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. GameStop Corp. has a consensus rating of “Buy” and a consensus target price of $36.71.
GameStop Corp. (NYSE:GME) traded down 1.857% on Wednesday, reaching $25.635. The company’s stock had a trading volume of 1,796,832 shares. GameStop Corp. has a 12 month low of $24.33 and a 12 month high of $47.62. The firm has a market cap of $2.67 billion, a P/E ratio of 6.759 and a beta of 1.08. The firm’s 50 day moving average is $27.82 and its 200-day moving average is $29.13.
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GameStop Corp. (NYSE:GME) last released its quarterly earnings results on Thursday, August 25th. The company reported $0.27 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.27. The firm had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.73 billion. GameStop Corp. had a net margin of 4.35% and a return on equity of 19.44%. The business’s revenue was down 7.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.31 EPS. On average, equities research analysts anticipate that GameStop Corp. will post $3.99 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 22nd. Investors of record on Friday, September 9th were issued a $0.37 dividend. The ex-dividend date of this dividend was Wednesday, September 7th. This represents a $1.48 annualized dividend and a yield of 5.67%. GameStop Corp.’s payout ratio is 39.05%.
In other news, EVP Michael Mauler bought 10,000 shares of the company’s stock in a transaction that occurred on Thursday, September 15th. The shares were acquired at an average price of $26.91 per share, for a total transaction of $269,100.00. Following the completion of the acquisition, the executive vice president now directly owns 120,922 shares in the company, valued at $3,254,011.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.70% of the stock is currently owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Dalton Greiner Hartman Maher & Co. purchased a new position in GameStop Corp. during the third quarter valued at about $23,569,000. Dynamic Advisors Solutions LLC bought a new stake in GameStop Corp. during the third quarter valued at $1,571,000. Advisory Services Network LLC increased its stake in GameStop Corp. by 47.1% in the third quarter. Advisory Services Network LLC now owns 11,772 shares of the company’s stock valued at $325,000 after buying an additional 3,767 shares during the period. Macquarie Group Ltd. increased its stake in GameStop Corp. by 30.9% in the second quarter. Macquarie Group Ltd. now owns 12,700 shares of the company’s stock valued at $338,000 after buying an additional 3,000 shares during the period. Finally, Northwestern Mutual Investment Management Company LLC increased its stake in GameStop Corp. by 349.2% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 17,947 shares of the company’s stock valued at $477,000 after buying an additional 13,952 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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