GameStop Corp. (GME) Receives $29.13 Consensus Target Price from Analysts
GameStop Corp. (NYSE:GME) has been given a consensus rating of “Hold” by the twenty research firms that are presently covering the company. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $29.13.
A number of research firms have weighed in on GME. Pacific Crest reaffirmed a “hold” rating on shares of GameStop Corp. in a research report on Sunday, August 28th. Wedbush set a $36.00 price target on GameStop Corp. and gave the stock a “buy” rating in a research report on Sunday, August 28th. Robert W. Baird reaffirmed an “outperform” rating and set a $25.00 price target (down previously from $40.00) on shares of GameStop Corp. in a research report on Friday, November 4th. Benchmark Co. reduced their price target on GameStop Corp. from $24.99 to $20.67 and set a “sell” rating for the company in a research report on Wednesday, November 2nd. Finally, Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $41.00 price target on shares of GameStop Corp. in a research report on Monday, July 25th.
GameStop Corp. (NYSE:GME) opened at 23.46 on Thursday. The company’s 50-day moving average is $24.89 and its 200-day moving average is $27.93. GameStop Corp. has a 12 month low of $20.10 and a 12 month high of $39.77. The company has a market cap of $2.44 billion, a price-to-earnings ratio of 6.19 and a beta of 1.16.
GameStop Corp. (NYSE:GME) last released its quarterly earnings results on Thursday, August 25th. The company reported $0.27 earnings per share 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 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 posted $0.31 EPS. The business’s revenue was down 7.4% on a year-over-year basis. On average, equities research analysts anticipate that GameStop Corp. will post $3.71 earnings per share for the current year.
In other GameStop Corp. news, EVP Michael Mauler acquired 10,000 shares of GameStop Corp. stock in a transaction that occurred on Thursday, September 15th. The shares were acquired at an average cost of $26.91 per share, with a total value of $269,100.00. Following the completion of the purchase, the executive vice president now directly owns 120,922 shares of the company’s stock, valued at approximately $3,254,011.02. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.70% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its stake in GameStop Corp. by 4.4% in the first quarter. Geode Capital Management LLC now owns 917,726 shares of the company’s stock valued at $29,065,000 after buying an additional 39,043 shares during the period. Adage Capital Partners GP L.L.C. raised its stake in 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 period. Panagora Asset Management Inc. raised its stake in GameStop Corp. by 22.0% in the first quarter. Panagora Asset Management Inc. now owns 269,638 shares of the company’s stock valued at $8,556,000 after buying an additional 48,582 shares during the period. Babson Capital Management LLC raised its stake in 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 period. Finally, Seven Eight Capital LLC raised its stake in GameStop Corp. by 95.3% in the first quarter. Seven Eight Capital LLC now owns 5,401 shares of the company’s stock valued at $171,000 after buying an additional 2,635 shares during the period.
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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