Equities Analysts Set Expectations for GameStop Corp.’s FY2017 Earnings (GME)
GameStop Corp. (NYSE:GME) – Investment analysts at Wedbush upped their FY2017 earnings per share estimates for shares of GameStop Corp. in a research report issued to clients and investors on Wednesday. Wedbush analyst M. Pachter now expects that the brokerage will post earnings of $3.76 per share for the year, up from their prior forecast of $3.75. Wedbush currently has a “Buy” rating and a $30.00 price target on the stock. Wedbush also issued estimates for GameStop Corp.’s Q2 2018 earnings at $0.33 EPS, Q4 2018 earnings at $2.50 EPS and FY2018 earnings at $3.96 EPS.
Several other research firms have also recently commented on GME. Robert W. Baird reaffirmed an “outperform” rating and issued a $42.00 target price on shares of GameStop Corp. in a research report on Wednesday, August 3rd. Pacific Crest reaffirmed a “hold” rating on shares of GameStop Corp. in a research report on Monday, August 22nd. Piper Jaffray Cos. reaffirmed an “outperform” rating and issued a $41.00 target price on shares of GameStop Corp. in a research report on Friday, August 26th. Vetr raised shares of GameStop Corp. from a “buy” rating to a “strong-buy” rating and set a $33.63 target price for the company in a research report on Monday, August 29th. Finally, Macquarie reaffirmed an “outperform” rating and issued a $36.00 target price on shares of GameStop Corp. in a research report on Saturday, October 15th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the stock. GameStop Corp. has an average rating of “Hold” and an average target price of $30.90.
Shares of GameStop Corp. (NYSE:GME) opened at 24.75 on Monday. The company has a market capitalization of $2.57 billion, a P/E ratio of 6.58 and a beta of 1.16. The firm has a 50-day moving average of $23.86 and a 200-day moving average of $27.33. GameStop Corp. has a 12 month low of $20.10 and a 12 month high of $35.17.
GameStop Corp. (NYSE:GME) last issued its quarterly earnings data on Tuesday, November 22nd. The company reported $0.49 earnings per share (EPS) for the quarter, topping the Zacks’ 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 business earned $1.96 billion during the quarter. During the same period in the previous year, the company posted $0.54 earnings per share. The company’s revenue for the quarter was down 2.8% on a year-over-year basis.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 13th. Investors of record on Thursday, December 1st will be given a dividend of $0.37 per share. The ex-dividend date is Tuesday, November 29th. This represents a $1.48 annualized dividend and a yield of 5.88%. GameStop Corp.’s dividend payout ratio (DPR) is 39.47%.
In other GameStop Corp. news, EVP Michael Mauler bought 10,000 shares of the business’s stock in a transaction that occurred on Thursday, September 15th. The stock was bought 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 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 available through this hyperlink. Corporate insiders own 2.70% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. FMR LLC raised its stake in shares of 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. American International Group Inc. raised its stake in shares of GameStop Corp. by 3.2% in the second quarter. American International Group Inc. now owns 7,941,026 shares of the company’s stock valued at $211,072,000 after buying an additional 248,779 shares during the period. Bank of New York Mellon Corp raised its stake in shares of GameStop Corp. by 9.2% in the second quarter. Bank of New York Mellon Corp now owns 4,151,805 shares of the company’s stock valued at $110,355,000 after buying an additional 350,142 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of GameStop Corp. by 13.6% in the second quarter. Dimensional Fund Advisors LP now owns 3,911,387 shares of the company’s stock valued at $103,963,000 after buying an additional 469,556 shares during the period. Finally, BlackRock Fund Advisors raised its stake in shares of GameStop Corp. by 4.0% in the third quarter. BlackRock Fund Advisors now owns 3,770,573 shares of the company’s stock valued at $104,030,000 after buying an additional 144,746 shares during the period.
GameStop Corp. Company Profile
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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