GameStop (NYSE:GME) announced its quarterly earnings results on Tuesday. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.10), RTT News reports. GameStop had a negative net margin of 8.32% and a positive return on equity of 14.55%. During the same period last year, the company posted $0.05 EPS. GameStop updated its FY 2019 guidance to $1.15-1.30 EPS.
Shares of NYSE:GME opened at $5.09 on Wednesday. The company has a market capitalization of $486.80 million, a P/E ratio of 2.38 and a beta of 0.36. GameStop has a 1 year low of $3.15 and a 1 year high of $17.04. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.48 and a quick ratio of 0.59. The business’s 50 day simple moving average is $3.84 and its 200 day simple moving average is $7.10.
A number of institutional investors have recently bought and sold shares of the business. Bank of Montreal Can increased its stake in GameStop by 274.9% in the second quarter. Bank of Montreal Can now owns 9,605 shares of the company’s stock valued at $52,000 after purchasing an additional 7,043 shares in the last quarter. Handelsbanken Fonder AB bought a new position in shares of GameStop during the second quarter worth $65,000. OneAscent Financial Services LLC purchased a new position in GameStop during the second quarter valued at $70,000. Meeder Asset Management Inc. grew its stake in GameStop by 2,168.9% during the second quarter. Meeder Asset Management Inc. now owns 14,090 shares of the company’s stock valued at $76,000 after acquiring an additional 13,469 shares in the last quarter. Finally, Strs Ohio bought a new stake in GameStop in the 2nd quarter valued at $79,000.
Several equities analysts have recently weighed in on GME shares. ValuEngine raised shares of GameStop from a “sell” rating to a “hold” rating in a research report on Tuesday. Wedbush set a $9.00 price target on shares of GameStop and gave the company a “buy” rating in a research note on Friday, September 6th. Loop Capital lowered their price target on shares of GameStop to $4.00 and set a “hold” rating on the stock in a report on Tuesday, September 3rd. Ascendiant Capital Markets lowered GameStop from a “buy” rating to a “hold” rating and set a $4.00 price objective on the stock. in a report on Wednesday, June 5th. Finally, Bank of America lowered their price objective on GameStop from $4.00 to $2.50 and set an “underperform” rating on the stock in a research report on Tuesday, August 20th. Four analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. GameStop currently has an average rating of “Hold” and a consensus price target of $8.45.
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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