Gamestop Corporation (NYSE:GME) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday.
According to Zacks, “GameStop has underperformed the industry in the past three months. Dismal stock performance can primarily be attributed to the delay in launch of "Red Dead Redemption: 2" and less visibility for the demand of Nintendo Switch for the entire year, which forced management to keep its view intact despite reporting better-than-expected results in first-quarter fiscal 2017. Moreover, we noted that although the top line grew year over year, the bottom line continues to decline. The company continues to expect fiscal 2017 comps to be in the range of flat to down 5% and forecasts earnings in the range of $3.10–$3.40 per share. Meanwhile, management expects sturdy performance of Technology Brands and Collectibles to continue in fiscal 2017. Further, it expects to enhance collectibles business to approximately $650–$700 million during fiscal 2017 and anticipates becoming a $1 billion business by the end of fiscal 2019.”
Several other brokerages also recently issued reports on GME. Mizuho reiterated a “buy” rating and set a $27.00 price target on shares of Gamestop Corporation in a report on Tuesday, April 18th. Vetr downgraded shares of Gamestop Corporation from a “strong-buy” rating to a “buy” rating and set a $26.42 price target for the company. in a report on Wednesday, April 26th. Robert W. Baird reiterated an “outperform” rating and set a $24.00 price target on shares of Gamestop Corporation in a report on Sunday, May 28th. Credit Suisse Group set a $20.00 price target on shares of Gamestop Corporation and gave the stock a “hold” rating in a report on Sunday, May 28th. Finally, ValuEngine downgraded shares of Gamestop Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $24.84.
Gamestop Corporation (NYSE GME) traded down 0.50% during midday trading on Tuesday, hitting $22.06. The stock had a trading volume of 547,061 shares. Gamestop Corporation has a 1-year low of $20.10 and a 1-year high of $32.67. The company has a 50-day moving average of $21.17 and a 200-day moving average of $23.06. The stock has a market cap of $2.23 billion, a price-to-earnings ratio of 6.57 and a beta of 1.20.
Gamestop Corporation (NYSE:GME) last announced its quarterly earnings results on Thursday, May 25th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.12. The company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $1.96 billion. Gamestop Corporation had a net margin of 3.99% and a return on equity of 17.55%. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.66 earnings per share. Equities research analysts forecast that Gamestop Corporation will post $3.32 EPS for the current year.
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Hedge funds have recently modified their holdings of the company. James Investment Research Inc. increased its stake in shares of Gamestop Corporation by 21.0% in the first quarter. James Investment Research Inc. now owns 4,630 shares of the company’s stock worth $104,000 after buying an additional 805 shares during the last quarter. Camarda Financial Advisors LLC increased its stake in shares of Gamestop Corporation by 9.4% in the second quarter. Camarda Financial Advisors LLC now owns 5,179 shares of the company’s stock worth $112,000 after buying an additional 447 shares during the last quarter. Westpac Banking Corp acquired a new stake in shares of Gamestop Corporation during the first quarter worth $134,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Gamestop Corporation by 126.9% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,616 shares of the company’s stock worth $149,000 after buying an additional 3,700 shares during the last quarter. Finally, LS Investment Advisors LLC increased its stake in shares of Gamestop Corporation by 17.3% in the second quarter. LS Investment Advisors LLC now owns 8,236 shares of the company’s stock worth $178,000 after buying an additional 1,213 shares during the last quarter. Hedge funds and other institutional investors own 99.62% of the company’s stock.
Gamestop Corporation 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. 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.
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