GameStop (NYSE:GME) was downgraded by analysts at Jefferies Financial Group from a “buy” rating to a “hold” rating in a report released on Tuesday, January 29th, Marketbeat Ratings reports. They presently have a $13.00 price objective on the stock, up from their previous price objective of $11.50. Jefferies Financial Group’s target price indicates a potential upside of 13.34% from the company’s current price. Jefferies Financial Group also issued estimates for GameStop’s Q4 2019 earnings at $1.60 EPS, FY2019 earnings at $2.69 EPS, Q1 2020 earnings at $0.20 EPS, Q4 2020 earnings at $1.86 EPS, Q1 2021 earnings at $0.17 EPS, Q2 2021 earnings at ($0.08) EPS, Q3 2021 earnings at $0.55 EPS and FY2021 earnings at $2.49 EPS.
A number of other equities analysts have also recently weighed in on GME. Bank of America set a $10.00 price target on GameStop and gave the stock a “sell” rating in a report on Wednesday, October 3rd. Zacks Investment Research reiterated a “sell” rating on shares of GameStop in a report on Tuesday, November 13th. Loop Capital set a $16.00 price target on GameStop and gave the stock a “hold” rating in a report on Friday, November 23rd. Wedbush reiterated a “buy” rating and set a $19.00 price target on shares of GameStop in a report on Monday, November 26th. Finally, TheStreet cut GameStop from a “c” rating to a “d+” rating in a report on Friday, November 30th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $13.22.
NYSE GME opened at $11.47 on Tuesday. The firm has a market cap of $1.17 billion, a PE ratio of 3.43 and a beta of 0.68. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.10 and a quick ratio of 0.30. GameStop has a twelve month low of $11.00 and a twelve month high of $17.27.
Institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC purchased a new position in GameStop during the 3rd quarter valued at about $114,000. Kentucky Retirement Systems purchased a new position in GameStop during the 3rd quarter valued at about $475,000. Raymond James & Associates purchased a new position in GameStop during the 4th quarter valued at about $141,000. Stone Ridge Asset Management LLC purchased a new position in GameStop during the 3rd quarter valued at about $177,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in GameStop during the 4th quarter valued at about $158,000. Institutional investors own 98.82% of the company’s stock.
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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