GameStop Corp. (NYSE:GME) - Research analysts at Wedbush raised their FY2024 earnings per share (EPS) estimates for shares of GameStop in a note issued to investors on Thursday, June 10th. Wedbush analyst M. Pachter now expects that the company will earn $1.40 per share for the year, up from their previous forecast of $1.35. Wedbush has a "Underperform" rating and a $50.00 price target on the stock. GameStop (NYSE:GME) last posted its quarterly earnings results on Tuesday, June 8th. The company reported ($0.45) earnings per share for the quarter, topping the Zacks' consensus estimate of ($0.83) by $0.38. GameStop had a negative net margin of 4.23% and a negative return on equity of 35.57%. The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter last year, the firm posted ($1.61) earnings per share. GameStop's revenue was up 25.1% on a year-over-year basis.
Other equities research analysts have also issued reports about the company. Ascendiant Capital Markets restated a "sell" rating on shares of GameStop in a research note on Monday, April 19th. Zacks Investment Research lowered shares of GameStop from a "buy" rating to a "hold" rating and set a $203.00 price target on the stock. in a report on Friday, March 26th. Telsey Advisory Group decreased their price objective on shares of GameStop from $33.00 to $30.00 and set an "underperform" rating for the company in a research note on Wednesday, March 24th. Finally, Credit Suisse Group reissued a "sell" rating on shares of GameStop in a research note on Thursday, April 1st. Five analysts have rated the stock with a sell rating and three have given a hold rating to the stock. The company presently has a consensus rating of "Sell" and a consensus price target of $44.86.
Shares of GME opened at $220.39 on Friday. GameStop has a twelve month low of $3.77 and a twelve month high of $483.00. The stock has a market cap of $15.60 billion, a price-to-earnings ratio of -65.20 and a beta of -2.07. The company has a quick ratio of 0.71, a current ratio of 1.16 and a debt-to-equity ratio of 0.49. The business has a fifty day moving average price of $188.00.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Arizona State Retirement System boosted its stake in shares of GameStop by 1.2% in the first quarter. Arizona State Retirement System now owns 17,072 shares of the company's stock valued at $3,241,000 after purchasing an additional 196 shares during the period. IFP Advisors Inc grew its stake in shares of GameStop by 59.2% during the first quarter. IFP Advisors Inc now owns 538 shares of the company's stock valued at $102,000 after acquiring an additional 200 shares in the last quarter. Regal Wealth Group Inc. purchased a new stake in shares of GameStop during the first quarter worth about $45,000. Eaton Vance Management acquired a new position in shares of GameStop in the first quarter worth about $49,000. Finally, The Manufacturers Life Insurance Company boosted its holdings in GameStop by 0.9% in the fourth quarter. The Manufacturers Life Insurance Company now owns 34,674 shares of the company's stock valued at $653,000 after purchasing an additional 326 shares during the last quarter. 36.56% of the stock is currently owned by institutional investors and hedge funds.
GameStop Corp., a specialty retailer, provides games and entertainment products through its e-commerce properties and various stores in the United States, Canada, Australia, and Europe. The company sells new and pre-owned video game platforms; accessories, such as controllers, gaming headsets, virtual reality products, and memory cards; new and pre-owned video game software; and in-game digital currency, digital downloadable content, and full-game downloads, as well as network points cards, and prepaid digital and subscription cards.
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