GameStop Corp. (GME) Expected to Announce Quarterly Sales of $3.20 Billion

Wall Street brokerages expect that GameStop Corp. (NYSE:GME) will report sales of $3.20 billion for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for GameStop’s earnings. The highest sales estimate is $3.34 billion and the lowest is $3.13 billion. GameStop reported sales of $3.05 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 4.9%. The firm is expected to report its next earnings report on Thursday, March 22nd.

According to Zacks, analysts expect that GameStop will report full-year sales of $3.20 billion for the current year, with estimates ranging from $8.85 billion to $9.06 billion. For the next fiscal year, analysts anticipate that the company will post sales of $8.75 billion per share, with estimates ranging from $8.68 billion to $8.82 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover GameStop.

GameStop (NYSE:GME) last released its earnings results on Tuesday, November 21st. The company reported $0.54 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.11. The firm had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.98 billion. GameStop had a net margin of 3.98% and a return on equity of 16.50%. The company’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.49 earnings per share.

GME has been the topic of a number of research analyst reports. Credit Suisse Group set a $20.00 target price on shares of GameStop and gave the company a “hold” rating in a research note on Saturday, November 25th. Zacks Investment Research upgraded shares of GameStop from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a research note on Wednesday, October 25th. ValuEngine upgraded shares of GameStop from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Vetr cut shares of GameStop from a “strong-buy” rating to a “hold” rating and set a $16.58 price target on the stock. in a research note on Friday, November 17th. Finally, Wedbush set a $25.00 price target on shares of GameStop and gave the company a “buy” rating in a research note on Thursday, November 16th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $22.42.

GameStop (NYSE:GME) opened at $16.17 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.20 and a quick ratio of 0.38. The firm has a market cap of $1,670.00, a PE ratio of 4.73, a price-to-earnings-growth ratio of 0.33 and a beta of 1.25. GameStop has a 52 week low of $15.10 and a 52 week high of $26.68.

In related news, Director Stephanie M. Shern sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $17.91, for a total transaction of $71,640.00. Following the sale, the director now directly owns 13,474 shares in the company, valued at approximately $241,319.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.80% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. Thrivent Financial For Lutherans increased its holdings in GameStop by 7.5% during the 2nd quarter. Thrivent Financial For Lutherans now owns 20,380 shares of the company’s stock worth $440,000 after acquiring an additional 1,430 shares during the period. Advisory Services Network LLC increased its holdings in shares of GameStop by 11.2% in the 2nd quarter. Advisory Services Network LLC now owns 14,907 shares of the company’s stock worth $322,000 after buying an additional 1,503 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of GameStop by 1.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 150,266 shares of the company’s stock worth $3,247,000 after buying an additional 1,762 shares during the last quarter. Berson & Corrado Investment Advisors LLC increased its holdings in shares of GameStop by 15.3% in the 4th quarter. Berson & Corrado Investment Advisors LLC now owns 23,044 shares of the company’s stock worth $414,000 after buying an additional 3,061 shares during the last quarter. Finally, Camelot Portfolios LLC increased its holdings in shares of GameStop by 4.1% in the 3rd quarter. Camelot Portfolios LLC now owns 87,547 shares of the company’s stock worth $1,809,000 after buying an additional 3,433 shares during the last quarter.

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About GameStop

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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