$1.37 Billion in Sales Expected for GameStop Corp. (NYSE:GME) This Quarter

Analysts expect GameStop Corp. (NYSE:GME) to post $1.37 billion in sales for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for GameStop’s earnings. The highest sales estimate is $1.39 billion and the lowest is $1.34 billion. GameStop posted sales of $1.65 billion during the same quarter last year, which suggests a negative year over year growth rate of 17%. The company is scheduled to report its next earnings results on Thursday, September 5th.

On average, analysts expect that GameStop will report full year sales of $7.55 billion for the current financial year, with estimates ranging from $7.45 billion to $7.75 billion. For the next fiscal year, analysts anticipate that the business will post sales of $7.41 billion, with estimates ranging from $7.22 billion to $7.79 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow GameStop.

GameStop (NYSE:GME) last posted its quarterly earnings results on Tuesday, June 4th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.09. GameStop had a positive return on equity of 14.55% and a negative net margin of 8.32%. The firm had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.64 billion. During the same quarter last year, the firm earned $0.38 earnings per share. The business’s revenue for the quarter was down 13.3% on a year-over-year basis.

Several equities research analysts recently commented on GME shares. Telsey Advisory Group cut their price target on GameStop from $11.00 to $10.00 and set a “market perform” rating for the company in a report on Wednesday, April 3rd. Jefferies Financial Group set a $12.00 target price on GameStop and gave the stock a “hold” rating in a research note on Friday, March 22nd. Credit Suisse Group cut their target price on HollyFrontier from $63.00 to $61.00 and set a “neutral” rating for the company in a research note on Wednesday, April 3rd. Loop Capital set a $2,380.00 target price on Amazon.com and gave the stock a “buy” rating in a research note on Monday. Finally, Benchmark reissued a “sell” rating and set a $5.00 target price (down previously from $9.00) on shares of GameStop in a research note on Wednesday, June 5th. Four research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $9.10.

Shares of NYSE:GME traded down $0.25 during midday trading on Friday, hitting $4.38. The company had a trading volume of 6,237,592 shares, compared to its average volume of 4,947,574. GameStop has a twelve month low of $4.33 and a twelve month high of $17.27. The company has a current ratio of 1.48, a quick ratio of 0.59 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $453.06 million, a PE ratio of 2.05 and a beta of 0.37. The firm’s 50-day moving average is $5.64.

A number of hedge funds have recently bought and sold shares of GME. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of GameStop during the first quarter worth $51,000. Investors Research Corp purchased a new position in GameStop in the first quarter valued at $55,000. Handelsbanken Fonder AB purchased a new position in GameStop in the second quarter valued at $65,000. Everence Capital Management Inc. purchased a new position in GameStop in the first quarter valued at $111,000. Finally, Magnus Financial Group LLC purchased a new position in GameStop in the first quarter valued at $111,000. 98.68% of the stock is owned by institutional investors.

About GameStop

GameStop Corp. operates as a multichannel video game and consumer electronics retailer in the United States, Canada, Australia, and Europe. The company sells new and pre-owned video game hardware; video game software; pre-owned and value video games; video game accessories, including controllers, gaming headsets, virtual reality products, memory cards, and other add-ons for use with video game hardware and software; and digital products, such as downloadable content, network points cards, prepaid digital and prepaid subscription cards, and digitally downloadable software, as well as collectible products.

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Earnings History and Estimates for GameStop (NYSE:GME)

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