Telsey Advisory Group Trims GameStop (GME) Target Price to $11.00

GameStop (NYSE:GME) had its price objective trimmed by Telsey Advisory Group from $14.00 to $11.00 in a report released on Tuesday, January 29th. The firm currently has a market perform rating on the stock.

Other equities research analysts have also issued research reports about the company. Wedbush restated a buy rating and issued a $19.00 price objective on shares of GameStop in a research report on Monday, November 26th. TheStreet lowered GameStop from a c rating to a d+ rating in a research report on Friday, November 30th. Jefferies Financial Group lowered GameStop from a buy rating to a hold rating and increased their target price for the company from $11.50 to $13.00 in a research report on Tuesday, January 29th. Loop Capital set a $16.00 target price on GameStop and gave the company a hold rating in a research report on Friday, November 23rd. Finally, Zacks Investment Research upgraded GameStop from a sell rating to a hold rating in a research report on Thursday, November 29th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $13.22.

GameStop stock opened at $11.47 on Tuesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.30 and a current ratio of 1.10. GameStop has a 12 month low of $11.00 and a 12 month high of $17.27. The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of 3.43 and a beta of 0.68.

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

Large investors have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. acquired a new position in GameStop in the 3rd quarter valued at $9,591,000. Paradice Investment Management LLC raised its stake in GameStop by 42.4% in the 4th quarter. Paradice Investment Management LLC now owns 1,962,168 shares of the company’s stock valued at $24,763,000 after purchasing an additional 583,850 shares during the last quarter. BlackRock Inc. raised its stake in GameStop by 3.9% in the 3rd quarter. BlackRock Inc. now owns 14,800,155 shares of the company’s stock valued at $225,998,000 after purchasing an additional 550,779 shares during the last quarter. Oregon Public Employees Retirement Fund acquired a new position in GameStop in the 4th quarter valued at $39,000. Finally, Northern Trust Corp raised its stake in GameStop by 46.6% in the 2nd quarter. Northern Trust Corp now owns 1,267,974 shares of the company’s stock valued at $18,475,000 after purchasing an additional 403,233 shares during the last quarter. Hedge funds and other 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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