GameStop Corp. (GME) Updates Q4 Earnings Guidance
GameStop Corp. (NYSE:GME) updated its fourth quarter earnings guidance on Tuesday. The company provided earnings per share guidance of $2.23-2.38 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.36.
Several research analysts have issued reports on the company. Pacific Crest reiterated a hold rating on shares of GameStop Corp. in a report on Monday, August 22nd. Robert W. Baird reiterated an outperform rating and issued a $42.00 price target on shares of GameStop Corp. in a report on Wednesday, August 3rd. Zacks Investment Research upgraded GameStop Corp. from a hold rating to a strong-buy rating and set a $36.00 price target on the stock in a report on Wednesday, July 27th. Piper Jaffray Cos. reiterated an outperform rating and issued a $41.00 price target on shares of GameStop Corp. in a report on Friday, August 26th. Finally, Vetr upgraded GameStop Corp. from a buy rating to a strong-buy rating and set a $33.63 target price on the stock in a report on Monday, August 29th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $31.60.
GameStop Corp. (NYSE:GME) opened at 24.11 on Wednesday. The stock has a 50 day moving average price of $24.05 and a 200-day moving average price of $27.44. GameStop Corp. has a 12-month low of $20.10 and a 12-month high of $38.03. The company has a market capitalization of $2.51 billion, a price-to-earnings ratio of 6.36 and a beta of 1.16.
GameStop Corp. (NYSE:GME) last released its quarterly earnings data on Tuesday, November 22nd. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.02. The business had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $1.99 billion. GameStop Corp. had a return on equity of 19.44% and a net margin of 4.35%. The firm’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.54 EPS. Equities analysts predict that GameStop Corp. will post $3.71 EPS for the current fiscal year.
The firm also recently disclosed a dividend, which will be paid on Tuesday, December 13th. Investors of record on Thursday, December 1st will be given a $0.37 dividend. The ex-dividend date is Tuesday, November 29th. GameStop Corp.’s dividend payout ratio (DPR) is presently 39.05%.
In other GameStop Corp. news, EVP Michael Mauler acquired 10,000 shares of the 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 transaction, the executive vice president now owns 120,922 shares of the company’s stock, valued at approximately $3,254,011.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.70% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. WFG Advisors LP boosted 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 valued at $105,000 after buying an additional 320 shares during the period. SG Americas Securities LLC raised its stake in shares of GameStop Corp. by 102.5% in the third quarter. SG Americas Securities LLC now owns 4,347 shares of the company’s stock worth $120,000 after buying an additional 180,696 shares in the last quarter. Boston Private Wealth LLC bought a new stake in shares of GameStop Corp. during the third quarter worth $223,000. Seven Eight Capital LLC raised its stake in shares of GameStop Corp. by 59.2% in the second quarter. Seven Eight Capital LLC now owns 8,601 shares of the company’s stock worth $229,000 after buying an additional 3,200 shares in the last quarter. Finally, Stevens Capital Management LP bought a new stake in shares of GameStop Corp. during the second quarter worth $280,000.
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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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