ValuEngine Upgrades Gamestop Corporation (GME) to “Buy”
ValuEngine upgraded shares of Gamestop Corporation (NYSE:GME) from a hold rating to a buy rating in a report issued on Monday.
Other equities research analysts have also issued reports about the company. Loop Capital reaffirmed a buy rating and set a $28.00 target price on shares of Gamestop Corporation in a research report on Wednesday, August 23rd. Robert W. Baird reaffirmed a buy rating and set a $24.00 target price on shares of Gamestop Corporation in a research report on Tuesday, September 26th. Oppenheimer Holdings, Inc. reaffirmed a hold rating on shares of Gamestop Corporation in a research report on Friday, August 25th. Zacks Investment Research raised Gamestop Corporation from a sell rating to a hold rating in a research report on Tuesday, August 8th. Finally, BidaskClub raised Gamestop Corporation from a sell rating to a hold rating in a research report on Friday, August 4th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Gamestop Corporation presently has a consensus rating of Hold and an average price target of $25.53.
Shares of Gamestop Corporation (NYSE GME) traded down 2.14% during midday trading on Monday, reaching $20.08. The company had a trading volume of 916,754 shares. The firm’s 50 day moving average price is $20.06 and its 200-day moving average price is $21.67. Gamestop Corporation has a 1-year low of $18.47 and a 1-year high of $27.14. The stock has a market capitalization of $2.03 billion, a price-to-earnings ratio of 6.04 and a beta of 1.19.
Gamestop Corporation (NYSE:GME) last issued its earnings results on Thursday, August 24th. The company reported $0.15 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.01). The firm had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.64 billion. Gamestop Corporation had a net margin of 3.90% and a return on equity of 16.66%. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period last year, the firm earned $0.27 earnings per share. Equities research analysts expect that Gamestop Corporation will post $3.30 EPS for the current fiscal year.
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The firm also recently announced a quarterly dividend, which was paid on Thursday, September 21st. Investors of record on Friday, September 8th were paid a dividend of $0.38 per share. The ex-dividend date was Thursday, September 7th. This represents a $1.52 annualized dividend and a yield of 7.41%. Gamestop Corporation’s dividend payout ratio (DPR) is 45.65%.
A number of hedge funds have recently made changes to their positions in GME. BlackRock Inc. grew its stake in Gamestop Corporation by 11,239.8% during the 1st quarter. BlackRock Inc. now owns 8,262,281 shares of the company’s stock worth $186,314,000 after buying an additional 8,189,420 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Gamestop Corporation by 38.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 8,501,615 shares of the company’s stock worth $183,720,000 after buying an additional 2,353,774 shares during the last quarter. Numeric Investors LLC purchased a new position in Gamestop Corporation during the 2nd quarter worth $34,679,000. Balyasny Asset Management LLC grew its stake in Gamestop Corporation by 1,459.9% during the 2nd quarter. Balyasny Asset Management LLC now owns 724,800 shares of the company’s stock worth $15,663,000 after buying an additional 678,335 shares during the last quarter. Finally, Morgan Stanley grew its stake in Gamestop Corporation by 51.6% during the 1st quarter. Morgan Stanley now owns 1,234,663 shares of the company’s stock worth $27,841,000 after buying an additional 420,120 shares during the last quarter.
About Gamestop Corporation
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. It operates its business in five segments, which consists of four Video Game Brands segments: United States, Canada, Australia and Europe, and Technology Brands segment.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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