GameStop Corp. (GME) Receives Outperform Rating from Robert W. Baird
GameStop Corp. (NYSE:GME)‘s stock had its “outperform” rating restated by analysts at Robert W. Baird in a note issued to investors on Monday. They currently have a $40.00 price target on the stock. Robert W. Baird’s price target suggests a potential upside of 44.98% from the stock’s previous close.
Several other research firms also recently weighed in on GME. Piper Jaffray Cos. restated an “outperform” rating and issued a $41.00 price objective on shares of GameStop Corp. in a report on Friday, August 26th. TheStreet upgraded GameStop Corp. from a “hold” rating to a “buy” rating in a report on Tuesday, August 23rd. Pacific Crest restated a “hold” rating on shares of GameStop Corp. in a report on Monday, August 22nd. Credit Suisse Group AG restated a “hold” rating and issued a $30.00 price objective on shares of GameStop Corp. in a report on Monday, August 22nd. Finally, Zacks Investment Research upgraded GameStop Corp. from a “hold” rating to a “strong-buy” rating and set a $36.00 price objective for the company in a report on Wednesday, July 27th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $36.57.
GameStop Corp. (NYSE:GME) traded up 0.272% during trading on Monday, reaching $27.665. 676,413 shares of the company’s stock traded hands. The firm has a market cap of $2.88 billion, a price-to-earnings ratio of 7.294 and a beta of 1.08. GameStop Corp. has a one year low of $24.33 and a one year high of $47.62. The company has a 50 day moving average of $28.88 and a 200 day moving average of $29.36.
GameStop Corp. (NYSE:GME) last released its earnings results on Thursday, August 25th. The company reported $0.27 earnings per share for the quarter, hitting the consensus estimate of $0.27. GameStop Corp. had a return on equity of 19.44% and a net margin of 4.35%. The business earned $1.63 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same period last year, the company earned $0.31 earnings per share. The business’s revenue for the quarter was down 7.4% compared to the same quarter last year. Equities research analysts predict that GameStop Corp. will post $3.98 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 22nd. Stockholders of record on Friday, September 9th were paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 5.36%. The ex-dividend date of this dividend was Wednesday, September 7th. GameStop Corp.’s payout ratio is 39.05%.
In other GameStop Corp. news, EVP Michael Mauler bought 10,000 shares of GameStop Corp. stock in a transaction dated Thursday, September 15th. The stock was acquired at an average cost of $26.91 per share, with a total value of $269,100.00. Following the purchase, the executive vice president now directly owns 120,922 shares in the company, valued at approximately $3,254,011.02. The acquisition was disclosed in a filing with the SEC, which is available at this link. Insiders own 2.70% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Point View Wealth Management Inc. increased its position in shares of GameStop Corp. by 1.5% in the second quarter. Point View Wealth Management Inc. now owns 13,057 shares of the company’s stock valued at $347,000 after buying an additional 192 shares during the last quarter. WFG Advisors LP boosted its stake in shares of GameStop Corp. by 8.8% in the second quarter. WFG Advisors LP now owns 3,950 shares of the company’s stock valued at $105,000 after buying an additional 320 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its stake in shares of GameStop Corp. by 0.3% in the first quarter. Adage Capital Partners GP L.L.C. now owns 160,700 shares of the company’s stock valued at $5,099,000 after buying an additional 500 shares during the last quarter. Penserra Capital Management LLC boosted its stake in shares of GameStop Corp. by 12.3% in the second quarter. Penserra Capital Management LLC now owns 4,938 shares of the company’s stock valued at $131,000 after buying an additional 542 shares during the last quarter. Finally, Babson Capital Management LLC boosted its stake in shares of GameStop Corp. by 0.9% in the first quarter. Babson Capital Management LLC now owns 67,012 shares of the company’s stock valued at $2,126,000 after buying an additional 600 shares during the last quarter.
GameStop Corp. Company Profile
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. The Company operates its business in four Video Game Brands segments: United States, Canada, Australia and Europe, and Technology Brands segment.
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