GameStop (GME) Issues Quarterly Earnings Results

GameStop (NYSE:GME) released its quarterly earnings data on Thursday. The company reported $0.67 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.11, Bloomberg Earnings reports. The business had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.03 billion. GameStop had a negative net margin of 0.48% and a positive return on equity of 13.78%. The company’s revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.54 earnings per share. GameStop updated its FY 2018 guidance to $2.55-2.75 EPS and its FY19 guidance to $2.55-2.75 EPS.

GME stock opened at $14.63 on Friday. The company has a current ratio of 1.45, a quick ratio of 0.48 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $1.53 billion, a P/E ratio of 4.38 and a beta of 1.13. GameStop has a 1-year low of $12.14 and a 1-year high of $20.31.

Hedge funds have recently bought and sold shares of the stock. Tower Research Capital LLC TRC bought a new position in shares of GameStop in the third quarter worth approximately $114,000. Fortis Advisors LLC bought a new position in shares of GameStop in the second quarter worth approximately $144,000. Greenwood Capital Associates LLC bought a new position in shares of GameStop in the second quarter worth approximately $175,000. Stone Ridge Asset Management LLC bought a new position in shares of GameStop in the third quarter worth approximately $177,000. Finally, Hilltop Holdings Inc. bought a new position in shares of GameStop in the second quarter worth approximately $180,000.

Several equities research analysts have commented on the stock. Zacks Investment Research raised shares of GameStop from a “sell” rating to a “hold” rating in a report on Wednesday, August 22nd. Jefferies Financial Group set a $18.00 price target on GameStop and gave the company a “buy” rating in a research report on Wednesday, September 5th. Wedbush set a $19.00 price target on GameStop and gave the company a “buy” rating in a research report on Friday, September 7th. Loop Capital reiterated a “hold” rating and set a $16.00 price target on shares of GameStop in a research report on Monday, September 10th. Finally, Credit Suisse Group set a $15.00 price target on GameStop and gave the company a “hold” rating in a research report on Friday, September 7th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $15.25.

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GameStop Company Profile

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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Earnings History for GameStop (NYSE:GME)

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