GameStop (NYSE:GME) Downgraded by Jefferies Financial Group to “Hold”

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.

GameStop (NYSE:GME) last released its quarterly earnings results on Thursday, November 29th. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.11. The business had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.03 billion. GameStop had a positive return on equity of 15.72% and a negative net margin of 6.45%. The company’s revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.54 EPS. As a group, equities analysts expect that GameStop will post 2.69 earnings per share for the current year.

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.

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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Analyst Recommendations for GameStop (NYSE:GME)

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