Telsey Advisory Group Lowers Gamestop Corporation (GME) to Market Perform
Gamestop Corporation (NYSE:GME) was downgraded by research analysts at Telsey Advisory Group from an “outperform” rating to a “market perform” rating in a report released on Friday.
GME has been the topic of a number of other reports. Loop Capital reissued a “buy” rating and issued a $28.00 price target on shares of Gamestop Corporation in a report on Sunday, May 28th. Vetr cut Gamestop Corporation from a “strong-buy” rating to a “strong sell” rating and set a $16.96 price objective on the stock. in a report on Monday, June 5th. BidaskClub raised Gamestop Corporation from a “sell” rating to a “hold” rating in a research report on Friday, August 4th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Gamestop Corporation in a research report on Tuesday, June 20th. Finally, Bank of America Corporation set a $27.00 target price on Gamestop Corporation and gave the company a “hold” rating in a research report on Saturday, May 13th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have given a buy rating to the stock. Gamestop Corporation presently has an average rating of “Hold” and a consensus price target of $24.84.
Gamestop Corporation (GME) opened at 21.85 on Friday. The company has a 50 day moving average of $21.39 and a 200-day moving average of $22.94. The stock has a market capitalization of $2.21 billion, a P/E ratio of 6.51 and a beta of 1.20. Gamestop Corporation has a one year low of $20.10 and a one year high of $32.67.
Gamestop Corporation (NYSE:GME) last released its quarterly earnings results on Thursday, May 25th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.12. The business had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $1.96 billion. Gamestop Corporation had a return on equity of 17.55% and a net margin of 3.99%. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.66 EPS. Equities research analysts predict that Gamestop Corporation will post $3.32 earnings per share for the current fiscal year.
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Several hedge funds and other institutional investors have recently made changes to their positions in GME. Vanguard Group Inc. raised its stake in Gamestop Corporation by 16.5% in the fourth quarter. Vanguard Group Inc. now owns 10,201,922 shares of the company’s stock valued at $286,063,000 after buying an additional 1,447,297 shares during the period. Dimensional Fund Advisors LP raised its stake in Gamestop Corporation by 38.3% in the second quarter. Dimensional Fund Advisors LP now owns 8,501,615 shares of the company’s stock valued at $183,720,000 after buying an additional 2,353,774 shares during the period. BlackRock Inc. raised its stake in Gamestop Corporation by 11,239.8% in the first quarter. BlackRock Inc. now owns 8,262,281 shares of the company’s stock valued at $186,314,000 after buying an additional 8,189,420 shares during the period. American International Group Inc. raised its stake in Gamestop Corporation by 3.2% in the second quarter. American International Group Inc. now owns 7,941,026 shares of the company’s stock valued at $211,072,000 after buying an additional 248,779 shares during the period. Finally, Iridian Asset Management LLC CT raised its stake in Gamestop Corporation by 27.6% in the fourth quarter. Iridian Asset Management LLC CT now owns 6,234,619 shares of the company’s stock valued at $157,486,000 after buying an additional 1,348,447 shares during the period.
About Gamestop Corporation
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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