Jefferies Financial Group Research Analysts Lift Earnings Estimates for GameStop Corp. (NYSE:GME)

GameStop Corp. (NYSE:GME) – Analysts at Jefferies Financial Group raised their Q3 2021 earnings estimates for GameStop in a research report issued to clients and investors on Monday, September 14th. Jefferies Financial Group analyst S. Wissink now expects that the company will post earnings per share of ($0.21) for the quarter, up from their prior forecast of ($0.32). Jefferies Financial Group has a “Buy” rating and a $8.00 price target on the stock. Jefferies Financial Group also issued estimates for GameStop’s Q4 2021 earnings at $1.36 EPS, FY2021 earnings at ($1.86) EPS, Q1 2022 earnings at ($0.60) EPS, Q2 2022 earnings at ($0.44) EPS, Q3 2022 earnings at ($0.02) EPS, Q4 2022 earnings at $0.99 EPS, FY2022 earnings at ($0.07) EPS, Q1 2023 earnings at ($0.56) EPS, Q2 2023 earnings at ($0.39) EPS and FY2023 earnings at $0.62 EPS.

GameStop (NYSE:GME) last announced its quarterly earnings results on Wednesday, September 9th. The company reported ($1.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.13) by ($0.27). The company had revenue of $942.00 million during the quarter, compared to the consensus estimate of $1.02 billion. GameStop had a negative return on equity of 29.98% and a negative net margin of 6.07%. The company’s revenue for the quarter was down 26.7% on a year-over-year basis. During the same period last year, the business posted ($0.32) EPS.

Several other analysts also recently issued reports on the company. Benchmark reissued a “sell” rating and issued a $3.00 price target on shares of GameStop in a report on Thursday, September 10th. Credit Suisse Group cut their price target on GameStop from $4.50 to $3.50 and set an “underperform” rating on the stock in a report on Friday, June 5th. Telsey Advisory Group raised GameStop from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $9.00 to $10.00 in a report on Monday. Ascendiant Capital Markets lifted their target price on GameStop from $3.00 to $4.00 and gave the company a “hold” rating in a research note on Thursday, June 11th. Finally, Wedbush lifted their target price on GameStop from $5.00 to $8.00 and gave the company a “neutral” rating in a research note on Tuesday, September 8th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $6.06.

Shares of NYSE GME opened at $8.68 on Wednesday. The company has a market cap of $565.61 million, a price-to-earnings ratio of -1.74 and a beta of 1.35. GameStop has a 12-month low of $2.57 and a 12-month high of $9.04. The company has a current ratio of 1.05, a quick ratio of 0.69 and a debt-to-equity ratio of 0.61. The stock’s 50 day simple moving average is $5.41 and its 200 day simple moving average is $4.61.

Hedge funds have recently modified their holdings of the company. Emerald Mutual Fund Advisers Trust acquired a new position in shares of GameStop during the 2nd quarter valued at $32,000. Advisor Group Holdings Inc. acquired a new position in shares of GameStop during the 1st quarter valued at $32,000. Two Sigma Securities LLC acquired a new position in shares of GameStop during the 1st quarter valued at $38,000. Investors Research Corp increased its position in shares of GameStop by 100.0% during the 2nd quarter. Investors Research Corp now owns 10,270 shares of the company’s stock valued at $40,000 after purchasing an additional 5,135 shares during the period. Finally, Honkamp Krueger Financial Services Inc. acquired a new position in shares of GameStop during the 2nd quarter valued at $43,000.

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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