GameStop Corp. (GME) Receives Outperform Rating from Robert W. Baird
Robert W. Baird reiterated their outperform rating on shares of GameStop Corp. (NYSE:GME) in a research note published on Saturday morning. Robert W. Baird currently has a $24.00 target price on the stock.
A number of other research analysts have also recently weighed in on GME. Bank of America Corp restated a buy rating on shares of GameStop Corp. in a report on Saturday, March 11th. Wedbush set a $30.00 price objective on shares of GameStop Corp. and gave the company a buy rating in a report on Saturday, November 26th. Vetr cut shares of GameStop Corp. from a hold rating to a sell rating and set a $22.84 price objective for the company. in a report on Thursday, December 1st. Macquarie restated a neutral rating and issued a $23.00 price objective (down previously from $27.00) on shares of GameStop Corp. in a report on Thursday, January 12th. Finally, Zacks Investment Research cut shares of GameStop Corp. from a hold rating to a sell rating in a report on Thursday, February 2nd. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $26.18.
Shares of GameStop Corp. (NYSE:GME) remained flat at $23.19 on Friday. 1,766,850 shares of the stock traded hands. The stock has a 50 day moving average price of $23.17 and a 200 day moving average price of $24.31. The firm has a market capitalization of $2.35 billion, a PE ratio of 6.82 and a beta of 1.18. GameStop Corp. has a 1-year low of $20.10 and a 1-year high of $33.72.
GameStop Corp. (NYSE:GME) last announced its quarterly earnings data on Thursday, March 23rd. The company reported $2.38 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.09. The firm earned $3.05 billion during the quarter, compared to analysts’ expectations of $3.06 billion. GameStop Corp. had a net margin of 4.32% and a return on equity of 18.74%. The business’s quarterly revenue was down 13.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.40 earnings per share. Analysts predict that GameStop Corp. will post $3.29 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 28th. Shareholders of record on Tuesday, March 14th were given a dividend of $0.38 per share. The ex-dividend date was Friday, March 10th. This represents a $1.52 dividend on an annualized basis and a yield of 6.55%. This is an increase from GameStop Corp.’s previous quarterly dividend of $0.37. GameStop Corp.’s dividend payout ratio is presently 39.47%.
Institutional investors have recently made changes to their positions in the company. Iridian Asset Management LLC CT increased its position in shares of GameStop Corp. by 27.6% in the fourth quarter. Iridian Asset Management LLC CT now owns 6,234,619 shares of the company’s stock worth $157,486,000 after buying an additional 1,348,447 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of GameStop Corp. by 6.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,595,765 shares of the company’s stock worth $116,090,000 after buying an additional 293,193 shares during the last quarter. BlackRock Fund Advisors increased its position 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 worth $104,030,000 after buying an additional 144,746 shares during the last quarter. Norges Bank purchased a new position in shares of GameStop Corp. during the fourth quarter worth approximately $27,807,000. Finally, Chartwell Investment Partners LLC increased its position in shares of GameStop Corp. by 3,534.9% in the third quarter. Chartwell Investment Partners LLC now owns 694,815 shares of the company’s stock worth $19,170,000 after buying an additional 675,700 shares during the last quarter.
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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