Bank of America Corp. Analysts Give GameStop Corp. (GME) a $37.00 Price Target
GameStop Corp. (NYSE:GME) has been assigned a $37.00 target price by Bank of America Corp. in a report released on Friday. The brokerage currently has a a “buy” rating on the stock. Bank of America Corp.’s price objective points to a potential upside of 38.68% from the stock’s previous close.
A number of other analysts also recently commented on GME. Pacific Crest restated a “hold” rating on shares of GameStop Corp. in a research note on Sunday, August 28th. Wedbush set a $36.00 target price on GameStop Corp. and gave the stock a “buy” rating in a research note on Sunday, August 28th. Oppenheimer Holdings Inc. restated a “hold” rating on shares of GameStop Corp. in a research note on Wednesday, June 15th. Vetr downgraded GameStop Corp. from a “strong-buy” rating to a “buy” rating and set a $33.63 target price on the stock. in a research note on Monday, July 18th. Finally, Piper Jaffray Cos. reiterated an “overweight” rating and set a $41.00 price target on shares of GameStop Corp. in a research report on Monday, July 25th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $36.71.
GameStop Corp. (NYSE:GME) traded up 0.15% during mid-day trading on Friday, reaching $26.72. The company’s stock had a trading volume of 1,750,678 shares. The firm’s 50 day moving average is $28.41 and its 200-day moving average is $29.25. The company has a market cap of $2.78 billion, a PE ratio of 7.04 and a beta of 1.08. GameStop Corp. has a 12-month low of $24.33 and a 12-month high of $47.62.
GameStop Corp. (NYSE:GME) last issued its earnings results on Thursday, August 25th. The company reported $0.27 EPS for the quarter, hitting analysts’ consensus estimates of $0.27. GameStop Corp. had a return on equity of 19.44% and a net margin of 4.35%. The firm had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the prior year, the business earned $0.31 earnings per share. The company’s revenue was down 7.4% compared to the same quarter last year. Equities analysts anticipate that GameStop Corp. will post $3.99 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 22nd. Investors of record on Friday, September 9th were issued a $0.37 dividend. The ex-dividend date was Wednesday, September 7th. This represents a $1.48 dividend on an annualized basis and a yield of 5.55%. GameStop Corp.’s dividend payout ratio (DPR) is presently 39.05%.
In related news, EVP Michael Mauler bought 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 15th. The stock was purchased at an average cost of $26.91 per share, for a total transaction of $269,100.00. Following the completion of the acquisition, the executive vice president now owns 120,922 shares in the company, valued at approximately $3,254,011.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.70% of the stock is owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of GME. Norges Bank acquired a new stake in GameStop Corp. during the fourth quarter worth $32,268,000. Commonwealth Equity Services Inc boosted its stake in GameStop Corp. by 72.6% in the first quarter. Commonwealth Equity Services Inc now owns 13,820 shares of the company’s stock worth $439,000 after buying an additional 5,814 shares in the last quarter. Aperio Group LLC boosted its stake in GameStop Corp. by 35.5% in the first quarter. Aperio Group LLC now owns 34,068 shares of the company’s stock worth $1,081,000 after buying an additional 8,917 shares in the last quarter. Nisa Investment Advisors L.L.C. acquired a new stake in GameStop Corp. during the first quarter worth $574,000. Finally, CIBC World Markets Inc. boosted its stake in GameStop Corp. by 3.5% in the first quarter. CIBC World Markets Inc. now owns 18,282 shares of the company’s stock worth $580,000 after buying an additional 611 shares in the last quarter.
About GameStop Corp.
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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