Wall Street analysts expect GameStop Corp. (NYSE:GME) to report sales of $2.05 billion for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for GameStop’s earnings, with the lowest sales estimate coming in at $2.02 billion and the highest estimate coming in at $2.10 billion. GameStop reported sales of $1.99 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 3%. The business is expected to report its next quarterly earnings report on Tuesday, November 20th.
On average, analysts expect that GameStop will report full year sales of $8.91 billion for the current fiscal year, with estimates ranging from $8.87 billion to $8.95 billion. For the next fiscal year, analysts forecast that the business will report sales of $8.83 billion, with estimates ranging from $8.66 billion to $9.05 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover GameStop.
GameStop (NYSE:GME) last released its quarterly earnings results on Thursday, September 6th. The company reported $0.05 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by ($0.03). The company had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.61 billion. GameStop had a positive return on equity of 13.78% and a negative net margin of 0.48%. The company’s revenue was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.15 EPS.
Several research analysts recently commented on GME shares. Wedbush set a $19.00 price target on GameStop and gave the stock a “buy” rating in a research report on Friday, August 31st. Zacks Investment Research lowered GameStop from a “hold” rating to a “sell” rating in a research report on Tuesday, August 14th. Credit Suisse Group set a $15.00 target price on GameStop and gave the company a “hold” rating in a research report on Friday, September 7th. Loop Capital restated a “hold” rating and set a $16.00 target price on shares of GameStop in a research report on Monday, September 10th. Finally, Bank of America set a $10.00 target price on GameStop and gave the company a “sell” rating in a research report on Saturday, October 20th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. GameStop has a consensus rating of “Hold” and an average target price of $14.73.
GME opened at $14.60 on Thursday. The stock has a market capitalization of $1.40 billion, a P/E ratio of 4.37 and a beta of 1.28. GameStop has a 12 month low of $12.20 and a 12 month high of $20.31. The company has a quick ratio of 0.48, a current ratio of 1.45 and a debt-to-equity ratio of 0.39.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 2nd. Shareholders of record on Tuesday, September 18th were given a dividend of $0.38 per share. The ex-dividend date was Monday, September 17th. This represents a $1.52 annualized dividend and a dividend yield of 10.41%. GameStop’s dividend payout ratio (DPR) is presently 45.51%.
Several large investors have recently made changes to their positions in GME. JPMorgan Chase & Co. boosted its position in shares of GameStop by 18.9% during the first quarter. JPMorgan Chase & Co. now owns 166,091 shares of the company’s stock valued at $2,097,000 after buying an additional 26,450 shares during the period. Stifel Financial Corp purchased a new stake in shares of GameStop in the first quarter valued at approximately $156,000. Principal Financial Group Inc. boosted its holdings in shares of GameStop by 1.8% in the first quarter. Principal Financial Group Inc. now owns 443,813 shares of the company’s stock valued at $5,601,000 after purchasing an additional 7,986 shares during the period. Ladenburg Thalmann Financial Services Inc. boosted its holdings in shares of GameStop by 116.1% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 13,146 shares of the company’s stock valued at $166,000 after purchasing an additional 7,062 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of GameStop in the first quarter valued at approximately $251,000.
GameStop Corp. operates as a multichannel video game, consumer electronics, and wireless services retailer. It operates in five segments: United States, Canada, Australia, Europe, and Technology Brands. The company sells new and pre-owned video game hardware; video game software; pre-owned and value video games; video game accessories, including controllers, gaming headsets, virtual reality products, memory cards, and other add-ons; and digital products, such as downloadable content, network points cards, prepaid digital and prepaid subscription cards, and digitally downloadable software.
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