GameStop Corp. (NYSE:GME) has earned an average rating of “Hold” from the twelve analysts that are presently covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $7.75.
A number of research firms have recently weighed in on GME. ValuEngine lowered shares of GameStop from a “sell” rating to a “strong sell” rating in a research report on Monday, June 3rd. Loop Capital cut their price objective on shares of GameStop to $8.00 and set a “hold” rating for the company in a research report on Monday, June 3rd. They noted that the move was a valuation call. Wedbush cut their price objective on shares of GameStop from $15.00 to $12.00 and set an “outperform” rating for the company in a research report on Wednesday, April 3rd. Benchmark reissued a “sell” rating and issued a $5.00 price objective (down previously from $9.00) on shares of GameStop in a research report on Wednesday, June 5th. Finally, Bank of America set a $4.00 price objective on shares of GameStop and gave the company a “sell” rating in a research report on Wednesday, June 5th.
Hedge funds have recently modified their holdings of the stock. Nisa Investment Advisors LLC increased its position in GameStop by 21.2% during the first quarter. Nisa Investment Advisors LLC now owns 74,750 shares of the company’s stock worth $759,000 after purchasing an additional 13,050 shares during the last quarter. Nantahala Capital Management LLC acquired a new position in GameStop during the fourth quarter worth approximately $9,232,000. Norges Bank purchased a new stake in GameStop during the fourth quarter worth approximately $20,351,000. Investors Research Corp purchased a new stake in GameStop during the first quarter worth approximately $55,000. Finally, Comerica Bank grew its stake in GameStop by 1.8% during the fourth quarter. Comerica Bank now owns 104,225 shares of the company’s stock worth $1,176,000 after buying an additional 1,893 shares during the period. 98.68% of the stock is owned by hedge funds and other institutional investors.
GameStop (NYSE:GME) last announced its earnings results on Tuesday, June 4th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.09. The company had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.64 billion. GameStop had a negative net margin of 8.32% and a positive return on equity of 14.55%. The firm’s quarterly revenue was down 13.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.38 earnings per share. Equities analysts expect that GameStop will post 1.45 earnings per share for the current fiscal year.
GameStop Company Profile
GameStop Corp. operates as a multichannel video game and consumer electronics retailer in the United States, Canada, Australia, and Europe. 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 for use with video game hardware and software; and digital products, such as downloadable content, network points cards, prepaid digital and prepaid subscription cards, and digitally downloadable software, as well as collectible products.
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