GameStop Corp. to Issue Quarterly Dividend of $0.38 (GME)
GameStop Corp. (NYSE:GME) announced a quarterly dividend on Thursday, May 25th. Shareholders of record on Wednesday, June 7th will be paid a dividend of 0.38 per share on Tuesday, June 20th. This represents a $1.52 dividend on an annualized basis and a yield of 6.44%.
GameStop Corp. has raised its dividend by an average of 10.4% per year over the last three years and has increased its dividend every year for the last 5 years. GameStop Corp. has a payout ratio of 46.8% meaning its dividend is sufficiently covered by earnings. Analysts expect GameStop Corp. to earn $3.40 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 44.7%.
Shares of GameStop Corp. (NYSE:GME) traded up 4.01% during midday trading on Thursday, reaching $23.62. 7,532,196 shares of the company’s stock were exchanged. The firm has a market cap of $2.39 billion, a PE ratio of 6.95 and a beta of 1.18. The stock’s 50-day moving average is $23.28 and its 200 day moving average is $24.13. GameStop Corp. has a one year low of $20.10 and a one year high of $32.67. GameStop Corp. also was the recipient of unusually large options trading activity on Tuesday. Stock investors purchased 7,101 call options on the stock. This is an increase of approximately 1,496% compared to the typical volume of 445 call options.
GameStop Corp. (NYSE:GME) last issued its earnings results on Thursday, March 23rd. The company reported $2.38 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.29 by $0.09. GameStop Corp. had a net margin of 4.32% and a return on equity of 18.74%. The firm had revenue of $3.05 billion during the quarter, compared to analysts’ expectations of $3.06 billion. During the same quarter last year, the company posted $2.40 earnings per share. The firm’s revenue was down 13.6% compared to the same quarter last year. Analysts anticipate that GameStop Corp. will post $3.29 EPS for the current year.
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Several research analysts recently issued reports on the stock. Oppenheimer Holdings Inc. reissued a “hold” rating on shares of GameStop Corp. in a report on Thursday. Vetr cut shares of GameStop Corp. from a “sell” rating to a “strong sell” rating and set a $20.04 target price for the company. in a report on Monday, May 15th. Bank of America Corp set a $27.00 target price on shares of GameStop Corp. and gave the stock a “hold” rating in a report on Saturday, May 13th. Telsey Advisory Group raised shares of GameStop Corp. from a “market perform” rating to an “outperform” rating in a report on Wednesday, May 10th. Finally, Mizuho reissued a “buy” rating and set a $27.00 target price on shares of GameStop Corp. in a report on Tuesday, April 18th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $25.86.
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. It operates its business in five segments, which consists of four Video Game Brands segments: United States, Canada, Australia and Europe, and Technology Brands segment.
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