Brokerages Anticipate GameStop Corp. (NYSE:GME) Will Post Earnings of -$0.73 Per Share

Wall Street brokerages expect GameStop Corp. (NYSE:GME) to post earnings per share (EPS) of ($0.73) for the current fiscal quarter, according to Zacks. Three analysts have made estimates for GameStop’s earnings, with the highest EPS estimate coming in at ($0.38) and the lowest estimate coming in at ($1.37). GameStop posted earnings per share of ($1.40) during the same quarter last year, which would indicate a positive year-over-year growth rate of 47.9%. The company is scheduled to announce its next quarterly earnings results on Wednesday, September 8th.

According to Zacks, analysts expect that GameStop will report full-year earnings of ($1.23) per share for the current financial year, with EPS estimates ranging from ($2.96) to $0.40. For the next financial year, analysts expect that the company will post earnings of ($0.64) per share, with EPS estimates ranging from ($2.62) to $1.40. Zacks’ EPS calculations are a mean average based on a survey of analysts that follow GameStop.

GameStop (NYSE:GME) last posted its earnings results on Tuesday, June 8th. The company reported ($0.45) EPS for the quarter, topping the consensus estimate of ($0.83) by $0.38. The company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.16 billion. GameStop had a negative net margin of 2.18% and a negative return on equity of 12.78%. The firm’s revenue for the quarter was up 25.1% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.61) earnings per share.

A number of brokerages have issued reports on GME. Telsey Advisory Group reduced their price objective on shares of GameStop from $33.00 to $30.00 and set an “underperform” rating for the company in a research report on Wednesday, March 24th. Wedbush boosted their target price on shares of GameStop from $39.00 to $50.00 and gave the company an “underperform” rating in a research note on Thursday, June 10th. Zacks Investment Research cut shares of GameStop from a “buy” rating to a “hold” rating and set a $231.00 target price on the stock. in a research note on Friday, June 11th. Credit Suisse Group reiterated a “sell” rating on shares of GameStop in a research note on Thursday, April 1st. Finally, Ascendiant Capital Markets increased their target price on shares of GameStop from $10.00 to $25.00 and gave the stock a “sell” rating in a research note on Monday, July 12th. Five research analysts have rated the stock with a sell rating and three have given a hold rating to the company. The stock presently has a consensus rating of “Sell” and a consensus target price of $51.86.

In related news, Director James Grube sold 1,900 shares of the stock in a transaction on Wednesday, June 23rd. The shares were sold at an average price of $217.78, for a total transaction of $413,782.00. Following the transaction, the director now owns 2,023 shares of the company’s stock, valued at approximately $440,568.94. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.40% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in GME. The Manufacturers Life Insurance Company boosted its position in GameStop by 0.9% during the 4th quarter. The Manufacturers Life Insurance Company now owns 34,674 shares of the company’s stock valued at $653,000 after buying an additional 326 shares during the period. Raymond James Financial Services Advisors Inc. purchased a new stake in GameStop during the 4th quarter valued at $1,253,000. LPL Financial LLC lifted its position in shares of GameStop by 17.7% in the 4th quarter. LPL Financial LLC now owns 21,548 shares of the company’s stock worth $406,000 after purchasing an additional 3,236 shares during the period. Vantage Consulting Group Inc purchased a new stake in shares of GameStop in the 4th quarter worth about $47,000. Finally, Clear Creek Financial Management LLC purchased a new stake in shares of GameStop in the 4th quarter worth about $2,780,000. 35.83% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:GME traded down $5.71 during midday trading on Friday, hitting $180.10. 16,430 shares of the company’s stock were exchanged, compared to its average volume of 3,393,725. GameStop has a 12 month low of $3.92 and a 12 month high of $483.00. The business’s 50 day moving average price is $210.49. The stock has a market cap of $12.93 billion, a P/E ratio of -102.09 and a beta of -2.14.

GameStop Company Profile

GameStop Corp. engages in the retail of multichannel video game, consumer electronics, and wireless services. It operates through the following segments: United States, Canada, Australia, and Europe. The United States segment includes the retail operations and electronic commerce websites and, Game Informer magazine, and Kongregate.

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Earnings History and Estimates for GameStop (NYSE:GME)

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