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

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

GameStop Stock Down 15.1 %

GameStop stock opened at $13.17 on Thursday. GameStop has a 12 month low of $11.82 and a 12 month high of $27.65. The stock has a market capitalization of $4.02 billion, a PE ratio of 658.58 and a beta of -0.42. 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 simple moving average of $14.30 and a 200-day simple moving average of $14.91.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on GME shares. Wedbush dropped their target price on GameStop from $6.00 to $5.60 and set an “underperform” rating on the stock in a research note on Wednesday. StockNews.com upgraded shares of GameStop from a “sell” rating to a “hold” rating in a research report on Wednesday.

Hedge Funds Weigh In On GameStop

A number of large investors have recently added to or reduced their stakes in the stock. 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 buying an additional 14,404 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in shares of GameStop by 3.5% in 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 during the last quarter. Vanguard Group Inc. increased its position in shares of GameStop by 0.7% during the fourth 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 in the last quarter. Voya Investment Management LLC raised its stake in GameStop by 4.5% in the 4th quarter. Voya Investment Management LLC now owns 57,845 shares of the company’s stock valued at $1,014,000 after purchasing an additional 2,480 shares during the last quarter. Finally, Vident Advisory LLC purchased a new position in GameStop in the 4th quarter valued at $201,000. 29.21% of the stock is currently owned by institutional investors and hedge funds.

About GameStop

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.