GameStop (NYSE:GME) has been assigned a $23.00 target price by Wedbush in a research note issued on Monday. The firm currently has a “buy” rating on the stock. Wedbush’s price objective would indicate a potential upside of 45.57% from the company’s current price.
The analysts wrote, “For 4Q17 results due Thurs, we expect revenues of $36.7M (consensus $36.1M), EBITDA of $28.3M (consensus $27.4M), and earnings per common unit of $0.21 (consensus $0.19), all above consensus. Already announced, a 4Q17 distribution of 0.4225 is unchanged, yielding 15.6% on an annual basis.””
A number of other research analysts have also issued reports on the company. Zacks Investment Research upgraded GameStop from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a research report on Wednesday, October 25th. Credit Suisse Group set a $20.00 price objective on GameStop and gave the company a “hold” rating in a report on Saturday, November 25th. Benchmark restated a “sell” rating and issued a $15.00 price objective (down previously from $18.00) on shares of GameStop in a report on Wednesday, November 22nd. Loop Capital set a $26.00 price objective on GameStop and gave the company a “buy” rating in a report on Friday, January 12th. Finally, SunTrust Banks restated a “buy” rating and issued a $25.00 price objective on shares of GameStop in a report on Tuesday, October 17th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $22.23.
GameStop (NYSE:GME) last announced its quarterly earnings results on Tuesday, November 21st. The company reported $0.54 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.11. GameStop had a return on equity of 16.50% and a net margin of 3.98%. The company had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.98 billion. During the same quarter in the previous year, the firm posted $0.49 EPS. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. analysts predict that GameStop will post 3.23 EPS for the current year.
In other news, Director Stephanie M. Shern sold 4,000 shares of the company’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $17.91, for a total value of $71,640.00. Following the completion of the sale, the director now owns 13,474 shares in the company, valued at $241,319.34. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 2.80% of the company’s stock.
Several institutional investors have recently made changes to their positions in GME. Thrivent Financial For Lutherans raised its position in shares of GameStop by 7.5% during the second quarter. Thrivent Financial For Lutherans now owns 20,380 shares of the company’s stock worth $440,000 after purchasing an additional 1,430 shares during the period. State Street Corp raised its position in shares of GameStop by 1.6% during the second quarter. State Street Corp now owns 3,020,149 shares of the company’s stock worth $65,265,000 after purchasing an additional 46,169 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of GameStop by 1.2% during the second quarter. The Manufacturers Life Insurance Company now owns 150,266 shares of the company’s stock worth $3,247,000 after purchasing an additional 1,762 shares during the period. Public Employees Retirement System of Ohio raised its position in shares of GameStop by 35.2% during the second quarter. Public Employees Retirement System of Ohio now owns 32,239 shares of the company’s stock worth $697,000 after purchasing an additional 8,394 shares during the period. Finally, Advisory Services Network LLC raised its position in shares of GameStop by 11.2% during the second quarter. Advisory Services Network LLC now owns 14,907 shares of the company’s stock worth $322,000 after purchasing an additional 1,503 shares during the period.
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.
Receive News & Ratings for GameStop Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GameStop and related companies with MarketBeat.com's FREE daily email newsletter.