GameStop Corp. (NYSE:GME) – Jefferies Financial Group reduced their FY2020 EPS estimates for shares of GameStop in a research note issued on Tuesday, December 10th, Zacks Investment Research reports. Jefferies Financial Group analyst S. Wissink now expects that the company will earn $0.15 per share for the year, down from their prior estimate of $1.21. Jefferies Financial Group also issued estimates for GameStop’s Q1 2021 earnings at $0.21 EPS, Q2 2021 earnings at ($0.66) EPS, Q3 2021 earnings at $0.10 EPS, Q4 2021 earnings at $1.40 EPS and FY2021 earnings at $1.03 EPS.
GameStop (NYSE:GME) last released its quarterly earnings results on Tuesday, December 10th. The company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.55). GameStop had a positive return on equity of 8.27% and a negative net margin of 9.27%. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.62 billion. During the same period in the prior year, the firm posted $0.36 earnings per share. GameStop’s revenue for the quarter was down 25.7% on a year-over-year basis.
Several other equities analysts also recently commented on the company. Credit Suisse Group cut their price objective on GameStop from $6.00 to $5.00 and set an “underperform” rating on the stock in a research report on Wednesday, December 11th. Wedbush decreased their target price on GameStop from $9.00 to $8.00 and set an “outperform” rating for the company in a research report on Wednesday, September 11th. Telsey Advisory Group boosted their target price on shares of GameStop from $5.00 to $6.00 and gave the company a “market perform” rating in a research note on Monday, November 4th. Loop Capital set a $4.00 price target on shares of GameStop and gave the stock a “hold” rating in a research note on Thursday, September 12th. Finally, Benchmark reiterated a “sell” rating and set a $3.00 price objective on shares of GameStop in a report on Wednesday, December 11th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $6.15.
GME opened at $5.99 on Friday. The stock’s 50 day moving average price is $5.98 and its 200-day moving average price is $5.14. GameStop has a one year low of $3.15 and a one year high of $16.90. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.37 and a current ratio of 1.18. The stock has a market cap of $399.49 million, a price-to-earnings ratio of 8.54 and a beta of 0.50.
In other news, Director Lizabeth Dunn purchased 5,000 shares of the company’s stock in a transaction dated Friday, September 27th. The shares were acquired at an average price of $5.38 per share, with a total value of $26,900.00. Following the transaction, the director now owns 32,969 shares of the company’s stock, valued at $177,373.22. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.40% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in GME. BlackRock Inc. raised its position in shares of GameStop by 1.4% in the 2nd quarter. BlackRock Inc. now owns 15,409,457 shares of the company’s stock worth $84,290,000 after acquiring an additional 219,884 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of GameStop by 905.9% in the 2nd quarter. Renaissance Technologies LLC now owns 5,127,146 shares of the company’s stock valued at $28,045,000 after buying an additional 4,617,446 shares in the last quarter. State Street Corp boosted its holdings in shares of GameStop by 8.2% in the 3rd quarter. State Street Corp now owns 4,238,913 shares of the company’s stock valued at $23,399,000 after buying an additional 320,009 shares in the last quarter. Aristeia Capital LLC purchased a new position in shares of GameStop in the 2nd quarter worth approximately $16,116,000. Finally, Parametric Portfolio Associates LLC grew its position in shares of GameStop by 93.5% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 2,831,377 shares of the company’s stock worth $15,629,000 after buying an additional 1,368,496 shares during the last quarter. 99.05% of the stock is currently owned by institutional investors and hedge funds.
About GameStop
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.
