Brokerages Anticipate GameStop Corp. (GME) Will Announce Earnings of $0.56 Per Share

Wall Street analysts predict that GameStop Corp. (NYSE:GME) will announce earnings per share (EPS) of $0.56 for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for GameStop’s earnings, with the lowest EPS estimate coming in at $0.52 and the highest estimate coming in at $0.58. GameStop reported earnings of $0.54 per share during the same quarter last year, which suggests a positive year over year growth rate of 3.7%. The business is scheduled to announce its next quarterly earnings report after the market closes on Thursday, November 29th.

On average, analysts expect that GameStop will report full year earnings of $3.05 per share for the current year, with EPS estimates ranging from $3.01 to $3.08. For the next financial year, analysts expect that the firm will post earnings of $2.62 per share, with EPS estimates ranging from $1.88 to $2.99. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that cover GameStop.

GameStop (NYSE:GME) last announced its quarterly earnings data on Thursday, September 6th. The company reported $0.05 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by ($0.03). GameStop had a negative net margin of 0.48% and a positive return on equity of 13.78%. The business had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same quarter in the prior year, the company earned $0.15 earnings per share. The company’s quarterly revenue was down 2.4% on a year-over-year basis.

Several equities analysts recently weighed in on the stock. Zacks Investment Research lowered shares of GameStop from a “hold” rating to a “sell” rating in a report on Wednesday. Bank of America set a $10.00 price objective on shares of GameStop and gave the company a “sell” rating in a report on Saturday, October 20th. Loop Capital restated a “hold” rating and issued a $16.00 price objective on shares of GameStop in a report on Monday, September 10th. Credit Suisse Group set a $15.00 price objective on shares of GameStop and gave the company a “hold” rating in a report on Friday, September 7th. Finally, Wedbush set a $19.00 target price on shares of GameStop and gave the stock a “buy” rating in a report on Friday, September 7th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. GameStop currently has an average rating of “Hold” and an average target price of $14.50.

Institutional investors and hedge funds have recently bought and sold shares of the business. BlueMountain Capital Management LLC acquired a new stake in shares of GameStop during the second quarter worth $334,000. Principal Financial Group Inc. raised its holdings in shares of GameStop by 1.8% during the first quarter. Principal Financial Group Inc. now owns 443,813 shares of the company’s stock worth $5,601,000 after acquiring an additional 7,986 shares during the period. Comerica Bank raised its holdings in shares of GameStop by 35.1% during the second quarter. Comerica Bank now owns 111,504 shares of the company’s stock worth $1,626,000 after acquiring an additional 28,957 shares during the period. Rothschild Investment Corp IL acquired a new stake in shares of GameStop during the third quarter worth $298,000. Finally, OppenheimerFunds Inc. raised its holdings in shares of GameStop by 27.8% during the second quarter. OppenheimerFunds Inc. now owns 1,325,627 shares of the company’s stock worth $19,314,000 after acquiring an additional 288,549 shares during the period.

NYSE GME traded up $1.43 during trading hours on Thursday, hitting $13.71. The company’s stock had a trading volume of 12,480,864 shares, compared to its average volume of 2,719,035. GameStop has a twelve month low of $12.14 and a twelve month high of $20.31. The firm has a market capitalization of $1.25 billion, a P/E ratio of 4.10 and a beta of 1.13. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.45 and a quick ratio of 0.48.

About GameStop

GameStop Corp. operates as a multichannel video game, consumer electronics, and wireless services retailer. It operates in five segments: United States, Canada, Australia, Europe, and Technology Brands. 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; and digital products, such as downloadable content, network points cards, prepaid digital and prepaid subscription cards, and digitally downloadable software.

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