GameStop (NYSE:GME) Issues Quarterly Earnings Results, Misses Estimates By $0.07 EPS

GameStop (NYSE:GME) released its quarterly earnings results on Tuesday. The company reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.07), RTT News reports. The business had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $2.05 billion. GameStop had a return on equity of 1.37% and a net margin of 0.13%. The firm’s revenue was down 19.4% on a year-over-year basis. During the same quarter last year, the company earned $0.16 earnings per share.

GameStop Stock Down 15.1 %

Shares of GameStop stock opened at $13.17 on Thursday. The company has a market capitalization of $4.02 billion, a P/E ratio of 658.58 and a beta of -0.42. GameStop has a 1 year low of $11.82 and a 1 year high of $27.65. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.65 and a quick ratio of 0.94. The business has a 50-day moving average of $14.30 and a two-hundred day moving average of $14.91.

Hedge Funds Weigh In On GameStop

A number of large investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its stake in GameStop by 9.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 174,571 shares of the company’s stock valued at $3,061,000 after acquiring an additional 14,404 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in GameStop by 3.5% during the fourth quarter. Public Employees Retirement System of Ohio now owns 116,462 shares of the company’s stock worth $2,042,000 after acquiring an additional 3,891 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of GameStop by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 25,450,256 shares of the company’s stock worth $446,143,000 after purchasing an additional 167,145 shares during the last quarter. Voya Investment Management LLC boosted its stake in shares of GameStop by 4.5% during the 4th quarter. Voya Investment Management LLC now owns 57,845 shares of the company’s stock worth $1,014,000 after acquiring an additional 2,480 shares during the period. Finally, Vident Advisory LLC bought a new stake in GameStop in the 4th quarter valued at $201,000. Institutional investors own 29.21% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. StockNews.com raised GameStop from a “sell” rating to a “hold” rating in a research note on Wednesday. Wedbush dropped their price objective on GameStop from $6.00 to $5.60 and set an “underperform” rating for the company in a report on Wednesday.

GameStop Company Profile

GameStop Corp., a specialty retailer, provides games and entertainment products through its stores and ecommerce platforms in the United States, Canada, Australia, and Europe. The company sells new and pre-owned gaming platforms; accessories, such as controllers, gaming headsets, and virtual reality products; new and pre-owned gaming software; and in-game digital currency, digital downloadable content, and full-game downloads.