Gamestop Corporation (NYSE:GME) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday, October 25th. The firm presently has a $22.00 price target on the stock. Zacks Investment Research‘s target price would indicate a potential upside of 33.90% from the stock’s previous close.
According to Zacks, “Though GameStop shares have underperformed the industry in the past three months, the trend is likely to reverse in the near term owing to robust demand for Nintendo Switch and Collectibles as well as strong International sales. Moreover, gains in both Technology Brands and Collectibles continue to bode well. Further, it expects to enhance collectibles business to approximately $650-$700 million during fiscal 2017 and anticipates becoming a $1 billion business by the end of fiscal 2019. In the third quarter, Collectibles sales are forecasted to increase by 30-40%. However, stiff competition, aggressive promotional strategies and waning store traffic are the headwinds with which the retail sector is grappling, and GameStop is not immune to it. Moreover, GameStop’s basic concern is the weakness prevailing in new software sales, which is heightening apprehensions about the impact of digital downloads on the same.”
GME has been the topic of a number of other reports. ValuEngine downgraded shares of Gamestop Corporation from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Loop Capital reissued a “buy” rating and issued a $28.00 price target on shares of Gamestop Corporation in a report on Wednesday, August 23rd. Robert W. Baird reissued a “buy” rating and issued a $24.00 price target on shares of Gamestop Corporation in a report on Tuesday, September 26th. Vetr raised shares of Gamestop Corporation from a “buy” rating to a “strong-buy” rating and set a $33.36 target price on the stock in a research note on Friday, September 15th. Finally, SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $25.00 target price on shares of Gamestop Corporation in a research note on Tuesday, October 17th. One analyst has rated the stock with a sell rating, nine have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $25.24.
Gamestop Corporation (NYSE:GME) traded down $1.13 during midday trading on Wednesday, reaching $16.43. 5,787,300 shares of the company’s stock traded hands, compared to its average volume of 2,652,925. The stock has a market capitalization of $1,778.95, a P/E ratio of 4.81, a PEG ratio of 0.35 and a beta of 1.24. Gamestop Corporation has a 1-year low of $16.22 and a 1-year high of $26.84. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.49 and a current ratio of 1.34.
Gamestop Corporation (NYSE:GME) last announced its quarterly earnings results on Thursday, August 24th. The company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.01). Gamestop Corporation had a return on equity of 16.66% and a net margin of 3.90%. The firm had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.64 billion. During the same period in the previous year, the company posted $0.27 earnings per share. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. equities research analysts expect that Gamestop Corporation will post 3.31 EPS for the current fiscal year.
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Institutional investors have recently modified their holdings of the company. Camarda Financial Advisors LLC grew its holdings in shares of Gamestop Corporation by 9.4% in the second quarter. Camarda Financial Advisors LLC now owns 5,179 shares of the company’s stock worth $112,000 after purchasing an additional 447 shares during the last quarter. Macquarie Group Ltd. bought a new position in shares of Gamestop Corporation in the third quarter worth approximately $112,000. BlueMountain Capital Management LLC bought a new position in shares of Gamestop Corporation in the second quarter worth approximately $162,000. LS Investment Advisors LLC grew its holdings in shares of Gamestop Corporation by 17.3% in the second quarter. LS Investment Advisors LLC now owns 8,236 shares of the company’s stock worth $178,000 after purchasing an additional 1,213 shares during the last quarter. Finally, JBF Capital Inc. boosted its holdings in Gamestop Corporation by 119.8% in the second quarter. JBF Capital Inc. now owns 9,120 shares of the company’s stock valued at $197,000 after acquiring an additional 4,971 shares in the last quarter. Hedge funds and other institutional investors own 99.40% of the company’s stock.
Gamestop Corporation Company Profile
GameStop Corp. is an omnichannel video game retailer. The Company sells video game hardware, physical and digital video game software, video game accessories, as well as mobile and consumer electronics products and other merchandise through its GameStop, EB Games and Micromania stores. It operates its business in five segments, which consists of four Video Game Brands segments: United States, Canada, Australia and Europe, and Technology Brands segment.
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