Wall Street analysts expect that GameStop Corp. (NYSE:GME) will report sales of $1.37 billion for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for GameStop’s earnings. The highest sales estimate is $1.39 billion and the lowest is $1.34 billion. GameStop reported sales of $1.65 billion in the same quarter last year, which indicates a negative year-over-year growth rate of 17%. The company is scheduled to report its next earnings results on Thursday, September 5th.
On average, analysts expect that GameStop will report full-year sales of $7.55 billion for the current year, with estimates ranging from $7.45 billion to $7.75 billion. For the next year, analysts anticipate that the company will post sales of $7.41 billion, with estimates ranging from $7.22 billion to $7.79 billion. Zacks’ sales averages are an average based on a survey of research firms that cover GameStop.
GameStop (NYSE:GME) last posted its earnings results on Tuesday, June 4th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.09. GameStop had a positive return on equity of 14.55% and a negative net margin of 8.32%. The firm had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.64 billion. During the same quarter in the prior year, the company earned $0.38 EPS. GameStop’s revenue was down 13.3% on a year-over-year basis.
Several equities analysts recently issued reports on the company. Ascendiant Capital Markets lowered GameStop from a “buy” rating to a “hold” rating and set a $4.00 target price on the stock. in a research note on Wednesday, June 5th. Bank of America set a $4.00 target price on GameStop and gave the stock a “sell” rating in a research note on Wednesday, June 5th. Credit Suisse Group decreased their target price on HollyFrontier from $63.00 to $61.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 3rd. Loop Capital assumed coverage on TENCENT HOLDING/ADR in a research note on Monday, June 3rd. They set a “buy” rating on the stock. Finally, Telsey Advisory Group decreased their target price on GameStop from $11.00 to $10.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 3rd. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. GameStop has an average rating of “Hold” and a consensus target price of $9.20.
GME opened at $4.84 on Friday. The business’s 50-day moving average price is $6.00. GameStop has a 12-month low of $4.71 and a 12-month high of $17.27. The company has a current ratio of 1.48, a quick ratio of 0.59 and a debt-to-equity ratio of 0.79. The firm has a market cap of $494.47 million, a price-to-earnings ratio of 2.26 and a beta of 0.38.
Hedge funds and other institutional investors have recently modified their holdings of the business. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of GameStop in the 1st quarter valued at about $51,000. Investors Research Corp purchased a new position in shares of GameStop in the 1st quarter valued at about $55,000. Magnus Financial Group LLC purchased a new position in shares of GameStop in the 1st quarter valued at about $111,000. Everence Capital Management Inc. purchased a new position in shares of GameStop in the 1st quarter valued at about $111,000. Finally, Raymond James & Associates purchased a new position in shares of GameStop in the 4th quarter valued at about $141,000. Institutional investors own 98.68% of the company’s stock.
GameStop Corp. operates as a multichannel video game and consumer electronics retailer in the United States, Canada, Australia, and Europe. 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 for use with video game hardware and software; and digital products, such as downloadable content, network points cards, prepaid digital and prepaid subscription cards, and digitally downloadable software, as well as collectible products.
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