Benchmark Cuts GameStop (GME) Price Target to $12.00

GameStop (NYSE:GME) had its price target decreased by Benchmark from $15.00 to $12.00 in a research note released on Thursday morning, MarketBeat.com reports. Benchmark currently has a sell rating on the stock.

A number of other research analysts also recently issued reports on GME. Loop Capital set a $28.00 price target on shares of GameStop and gave the stock a buy rating in a research report on Thursday, November 30th. ValuEngine upgraded shares of GameStop from a hold rating to a buy rating in a research report on Friday, December 1st. Wedbush set a $23.00 price objective on shares of GameStop and gave the company a buy rating in a research report on Monday, February 12th. Zacks Investment Research downgraded shares of GameStop from a hold rating to a sell rating in a research report on Tuesday, March 20th. Finally, Bank of America downgraded shares of GameStop from a neutral rating to an underperform rating and set a $11.00 price objective on the stock. in a research report on Thursday. Three analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. GameStop presently has an average rating of Hold and a consensus price target of $19.78.

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GameStop stock opened at $12.62 on Thursday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.38 and a current ratio of 1.20. GameStop has a 1 year low of $12.20 and a 1 year high of $25.31. The stock has a market capitalization of $1,278.46, a PE ratio of 3.78, a price-to-earnings-growth ratio of 0.25 and a beta of 1.26.

GameStop (NYSE:GME) last posted its quarterly earnings results on Wednesday, March 28th. The company reported $2.02 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.96 by $0.06. GameStop had a net margin of 0.38% and a return on equity of 14.73%. The company had revenue of $3.50 billion for the quarter, compared to the consensus estimate of $3.33 billion. During the same period last year, the firm posted $2.38 EPS. The company’s revenue for the quarter was up 15.0% on a year-over-year basis. research analysts expect that GameStop will post 3.18 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 20th. Investors of record on Monday, March 5th were given a $0.38 dividend. The ex-dividend date was Friday, March 2nd. This represents a $1.52 annualized dividend and a yield of 12.04%. GameStop’s dividend payout ratio is presently 45.51%.

A number of large investors have recently modified their holdings of GME. Armistice Capital LLC bought a new stake in GameStop in the 4th quarter valued at about $14,360,000. American International Group Inc. increased its stake in GameStop by 226.2% during the 4th quarter. American International Group Inc. now owns 761,049 shares of the company’s stock valued at $13,661,000 after buying an additional 527,712 shares during the period. Bank of New York Mellon Corp increased its stake in GameStop by 22.3% during the 4th quarter. Bank of New York Mellon Corp now owns 2,894,420 shares of the company’s stock valued at $51,956,000 after buying an additional 527,083 shares during the period. BlackRock Inc. increased its stake in GameStop by 5.5% during the 4th quarter. BlackRock Inc. now owns 8,860,599 shares of the company’s stock valued at $159,047,000 after buying an additional 462,977 shares during the period. Finally, Aperio Group LLC increased its stake in GameStop by 87.0% during the 4th quarter. Aperio Group LLC now owns 963,757 shares of the company’s stock valued at $17,299,000 after buying an additional 448,416 shares during the period.

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About GameStop

GameStop Corp. is an omnichannel video game retailer. The Company sells video game hardware, physical and digital video game software, video game accessories, as well as mobile and consumer electronics products and other merchandise through its GameStop, EB Games and Micromania stores. It operates its business in five segments, which consists of four Video Game Brands segments: United States, Canada, Australia and Europe, and Technology Brands segment.

Analyst Recommendations for GameStop (NYSE:GME)

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