GameStop Corp. (GME) Announces Quarterly Dividend of $0.37
GameStop Corp. (NYSE:GME) announced a quarterly dividend on Monday, November 21st. Stockholders of record on Thursday, December 1st will be paid a dividend of 0.37 per share on Tuesday, December 13th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 5.68%. The ex-dividend date is Tuesday, November 29th.
Shares of GameStop Corp. (NYSE:GME) opened at 26.06 on Thursday. The stock’s 50 day moving average price is $24.02 and its 200-day moving average price is $27.43. The stock has a market capitalization of $2.71 billion, a price-to-earnings ratio of 6.87 and a beta of 1.16. GameStop Corp. has a 12 month low of $20.10 and a 12 month high of $36.95.
GameStop Corp. (NYSE:GME) last announced its earnings results 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. GameStop Corp. had a net margin of 4.32% and a return on equity of 18.72%. The company had revenue of $1.96 billion for the quarter. During the same period last year, the firm earned $0.54 earnings per share. GameStop Corp.’s revenue for the quarter was down 2.8% compared to the same quarter last year. Equities analysts forecast that GameStop Corp. will post $3.71 earnings per share for the current fiscal year.
In related news, EVP Michael Mauler acquired 10,000 shares of the business’s stock in a transaction dated Thursday, September 15th. The stock was acquired at an average price 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 of the company’s stock, valued at $3,254,011.02. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.70% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC raised its position in GameStop Corp. by 0.4% in the second quarter. FMR LLC now owns 15,591,175 shares of the company’s stock valued at $414,413,000 after buying an additional 61,629 shares during the period. BlackRock Fund Advisors raised its position in GameStop Corp. by 121.9% in the second quarter. BlackRock Fund Advisors now owns 3,625,827 shares of the company’s stock valued at $96,374,000 after buying an additional 1,991,782 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in GameStop Corp. by 10.2% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 3,304,775 shares of the company’s stock valued at $87,841,000 after buying an additional 306,344 shares during the period. Allianz Asset Management AG raised its position in GameStop Corp. by 2.6% in the second quarter. Allianz Asset Management AG now owns 1,110,593 shares of the company’s stock valued at $29,520,000 after buying an additional 28,600 shares during the period. Finally, Morgan Stanley raised its position in GameStop Corp. by 14.9% in the third quarter. Morgan Stanley now owns 734,378 shares of the company’s stock valued at $20,263,000 after buying an additional 95,439 shares during the period.
GME has been the topic of several research analyst reports. Pacific Crest restated a “hold” rating on shares of GameStop Corp. in a report on Sunday, August 28th. Wedbush set a $36.00 price target on shares of GameStop Corp. and gave the company a “buy” rating in a report on Sunday, August 28th. Robert W. Baird restated an “outperform” rating and set a $25.00 price target (down from $40.00) on shares of GameStop Corp. in a report on Friday, November 4th. Benchmark Co. lowered their price target on shares of GameStop Corp. from $24.99 to $20.67 and set a “sell” rating on the stock in a report on Wednesday, November 2nd. Finally, Telsey Advisory Group lowered their price target on shares of GameStop Corp. from $35.00 to $30.00 and set an “outperform” rating on the stock in a report on Thursday, November 3rd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $31.60.
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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