Wall Street brokerages forecast that GameStop Corp. (NYSE:GME) will announce $1.37 billion in sales for the current quarter, Zacks reports. Three analysts have made estimates for GameStop’s earnings, with estimates ranging from $1.34 billion to $1.39 billion. GameStop posted sales of $1.65 billion in the same quarter last year, which suggests a negative year over year growth rate of 17%. The firm is scheduled to announce its next quarterly earnings report 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 forecast that the firm will report sales of $7.41 billion, with estimates ranging from $7.22 billion to $7.79 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow GameStop.
GameStop (NYSE:GME) last posted its quarterly earnings results on Tuesday, June 4th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.09. GameStop had a negative net margin of 8.32% and a positive return on equity of 14.55%. The firm had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same quarter in the prior year, the business posted $0.38 earnings per share. The company’s quarterly revenue was down 13.3% compared to the same quarter last year.
Several equities research analysts have issued reports on the stock. Loop Capital set a $7.00 price target on shares of GameStop and gave the company a “hold” rating in a research note on Monday, July 15th. Bank of America set a $4.00 target price on shares of GameStop and gave the company a “sell” rating in a research report on Wednesday, June 5th. Wedbush set a $9.00 target price on shares of GameStop and gave the company a “buy” rating in a research report on Thursday, July 11th. Benchmark restated a “sell” rating and issued a $5.00 target price (down from $9.00) on shares of GameStop in a research report on Wednesday, June 5th. Finally, ValuEngine upgraded shares of GameStop from a “sell” rating to a “hold” rating in a research report on Sunday, June 9th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company’s stock. GameStop presently has an average rating of “Hold” and an average target price of $9.10.
GME stock remained flat at $$3.81 during midday trading on Friday. 5,818,763 shares of the company’s stock traded hands, compared to its average volume of 5,041,886. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.59 and a current ratio of 1.48. GameStop has a 12-month low of $3.58 and a 12-month high of $17.27. The company’s fifty day moving average is $4.74. The stock has a market cap of $385.05 million, a price-to-earnings ratio of 1.78 and a beta of 0.38.
A number of large investors have recently modified their holdings of GME. Nisa Investment Advisors LLC lifted its position in GameStop by 21.2% during the first quarter. Nisa Investment Advisors LLC now owns 74,750 shares of the company’s stock valued at $759,000 after purchasing an additional 13,050 shares during the last quarter. Norges Bank bought a new position in GameStop in the 4th quarter worth about $20,351,000. Investors Research Corp bought a new position in GameStop in the 1st quarter worth about $55,000. Twin Tree Management LP bought a new position in GameStop in the 1st quarter worth about $153,000. Finally, Principal Financial Group Inc. boosted its stake in GameStop by 2.3% in the 4th quarter. Principal Financial Group Inc. now owns 841,085 shares of the company’s stock worth $10,614,000 after purchasing an additional 18,545 shares in the last quarter. Hedge funds and other institutional investors own 98.68% of the company’s stock.
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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