Analysts Set GameStop Corp. (GME) Target Price at $35.28
Shares of GameStop Corp. (NYSE:GME) have been given a consensus rating of “Buy” by the twenty brokerages that are currently covering the firm. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $34.47.
GME has been the subject of a number of recent research reports. Vetr downgraded GameStop Corp. from a “strong-buy” rating to a “buy” rating and set a $33.63 price objective for the company. in a research report on Monday, August 8th. Bank of America Corp. reiterated a “buy” rating on shares of GameStop Corp. in a research report on Sunday, July 17th. Wedbush reiterated a “buy” rating on shares of GameStop Corp. in a research report on Wednesday, August 17th. TheStreet upgraded GameStop Corp. from a “hold” rating to a “buy” rating in a research report on Tuesday, August 23rd. Finally, Hilliard Lyons upgraded GameStop Corp. from a “neutral” rating to a “buy” rating and set a $33.00 price objective for the company in a research report on Friday, September 9th.
In other GameStop Corp. news, EVP Michael Mauler purchased 10,000 shares of the stock in a transaction dated Thursday, September 15th. The shares were bought at an average cost of $26.91 per share, with a total value of $269,100.00. Following the completion of the transaction, 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 can be accessed through the SEC website. 2.70% of the stock is owned by insiders.
Large investors have recently modified their holdings of the stock. Reliance Trust Co. of Delaware acquired a new stake in shares of GameStop Corp. during the third quarter valued at about $284,000. Premier Asset Managment LLC boosted its stake in GameStop Corp. by 2.7% in the third quarter. Premier Asset Managment LLC now owns 46,250 shares of the company’s stock valued at $1,276,000 after buying an additional 1,200 shares during the last quarter. Dalton Greiner Hartman Maher & Co. bought a new stake in GameStop Corp. during the third quarter valued at $23,569,000. Dynamic Advisors Solutions LLC bought a new stake in GameStop Corp. during the third quarter valued at $1,571,000. Finally, Advisory Services Network LLC boosted its stake in GameStop Corp. by 47.1% in the third quarter. Advisory Services Network LLC now owns 11,772 shares of the company’s stock valued at $325,000 after buying an additional 3,767 shares during the last quarter.
GameStop Corp. (NYSE:GME) opened at 25.38 on Thursday. The firm has a 50 day moving average price of $27.45 and a 200 day moving average price of $29.07. GameStop Corp. has a 52 week low of $24.33 and a 52 week high of $47.62. The stock has a market capitalization of $2.64 billion, a P/E ratio of 6.69 and a beta of 1.08.
GameStop Corp. (NYSE:GME) last announced its quarterly earnings data on Thursday, August 25th. The company reported $0.27 EPS for the quarter, meeting analysts’ consensus estimates of $0.27. GameStop Corp. had a return on equity of 19.44% and a net margin of 4.35%. The company earned $1.63 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the prior year, the firm earned $0.31 EPS. The company’s quarterly revenue was down 7.4% compared to the same quarter last year. Equities research analysts predict that GameStop Corp. will post $3.99 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 22nd. Stockholders of record on Friday, September 9th were given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 5.83%. The ex-dividend date of this dividend was Wednesday, September 7th. GameStop Corp.’s dividend payout ratio is currently 39.05%.
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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