GameStop Corp. (GME) Earns “Outperform” Rating from Macquarie
GameStop Corp. (NYSE:GME)‘s stock had its “outperform” rating reaffirmed by Macquarie in a research note issued on Saturday. They currently have a $36.00 price target on the stock. Macquarie’s price target points to a potential upside of 41.84% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Bank of America Corp. reaffirmed a “buy” rating on shares of GameStop Corp. in a research report on Sunday, July 17th. Wedbush set a $36.00 price target on shares of GameStop Corp. and gave the company a “buy” rating in a research report on Sunday, August 28th. Pacific Crest reissued a “hold” rating on shares of GameStop Corp. in a research report on Sunday, August 28th. Vetr raised shares of GameStop Corp. from a “buy” rating to a “strong-buy” rating and set a $33.63 price target for the company in a research report on Tuesday, August 2nd. Finally, Robert W. Baird reissued an “outperform” rating and set a $42.00 price target on shares of GameStop Corp. in a research report on Wednesday, August 3rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $36.71.
GameStop Corp. (NYSE:GME) traded down 0.35% on Friday, reaching $25.38. 3,136,105 shares of the company’s stock were exchanged. The firm’s 50 day moving average price is $27.45 and its 200 day moving average price is $29.07. The company has a market cap of $2.64 billion, a PE ratio of 6.69 and a beta of 1.08. GameStop Corp. has a 52-week low of $24.33 and a 52-week high of $47.62.
GameStop Corp. (NYSE:GME) last posted its earnings results on Thursday, August 25th. The company reported $0.27 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.27. GameStop Corp. had a net margin of 4.35% and a return on equity of 19.44%. The firm earned $1.63 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same period last year, the company posted $0.31 EPS. The company’s quarterly revenue was down 7.4% compared to the same quarter last year. On average, analysts expect that GameStop Corp. will post $3.99 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 22nd. Shareholders of record on Friday, September 9th were given a $0.37 dividend. The ex-dividend date of this dividend was Wednesday, September 7th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 5.83%. GameStop Corp.’s payout ratio is currently 39.05%.
In other news, EVP Michael Mauler purchased 10,000 shares of the company’s stock in a transaction on Thursday, September 15th. The stock was acquired at an average cost of $26.91 per share, for a total transaction of $269,100.00. Following the completion of the transaction, 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 legal filing with the SEC, which is accessible through this hyperlink. 2.70% of the stock is currently owned by company insiders.
Several institutional investors have recently bought and sold shares of the company. WFG Advisors LP raised its position in GameStop Corp. by 8.8% in the second quarter. WFG Advisors LP now owns 3,950 shares of the company’s stock worth $105,000 after buying an additional 320 shares during the last quarter. Penserra Capital Management LLC raised its position in GameStop Corp. by 12.3% in the second quarter. Penserra Capital Management LLC now owns 4,938 shares of the company’s stock worth $131,000 after buying an additional 542 shares during the last quarter. Americafirst Capital Management LLC purchased a new position in GameStop Corp. during the second quarter worth $150,000. BlueMountain Capital Management LLC purchased a new position in GameStop Corp. during the first quarter worth $156,000. Finally, Seven Eight Capital LLC raised its position in GameStop Corp. by 95.3% in the first quarter. Seven Eight Capital LLC now owns 5,401 shares of the company’s stock worth $171,000 after buying an additional 2,635 shares during 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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