Wall Street brokerages forecast that GameStop Corp. (NYSE:GME) will announce $3.25 billion in sales for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for GameStop’s earnings, with the lowest sales estimate coming in at $3.13 billion and the highest estimate coming in at $3.41 billion. GameStop posted sales of $3.05 billion during the same quarter last year, which suggests a positive year over year growth rate of 6.6%. The firm is expected to report its next earnings results after the market closes on Wednesday, March 28th.
On average, analysts expect that GameStop will report full-year sales of $3.25 billion for the current financial year, with estimates ranging from $8.85 billion to $9.06 billion. For the next financial year, analysts expect that the business will report sales of $8.75 billion per share, with estimates ranging from $8.68 billion to $8.82 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow GameStop.
GME has been the subject of several research reports. Loop Capital set a $26.00 price target on shares of GameStop and gave the company a “buy” rating in a research report on Friday, January 12th. ValuEngine upgraded shares of GameStop from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Robert W. Baird restated a “buy” rating and set a $23.00 price target on shares of GameStop in a research report on Wednesday, November 22nd. Wedbush set a $25.00 price target on shares of GameStop and gave the company a “buy” rating in a research report on Thursday, November 16th. Finally, Bank of America restated a “hold” rating and set a $23.00 price target on shares of GameStop in a research report on Wednesday, November 22nd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $22.23.
Shares of GameStop (GME) opened at $15.31 on Friday. The company has a market cap of $1,566.17, a PE ratio of 4.18, a PEG ratio of 0.31 and a beta of 1.26. The company has a quick ratio of 0.38, a current ratio of 1.20 and a debt-to-equity ratio of 0.35. GameStop has a 1-year low of $15.10 and a 1-year high of $25.31.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 20th. Shareholders of record on Monday, March 5th will be given a dividend of $0.38 per share. The ex-dividend date is Friday, March 2nd. This represents a $1.52 dividend on an annualized basis and a yield of 9.93%. GameStop’s dividend payout ratio is presently 44.31%.
A number of large investors have recently modified their holdings of the business. BlackRock Inc. boosted its position in GameStop by 5.5% during the fourth quarter. BlackRock Inc. now owns 8,860,599 shares of the company’s stock worth $159,047,000 after purchasing an additional 462,977 shares during the period. Dimensional Fund Advisors LP boosted its position in GameStop by 0.4% during the third quarter. Dimensional Fund Advisors LP now owns 8,536,127 shares of the company’s stock worth $176,357,000 after purchasing an additional 34,512 shares during the period. Bank of New York Mellon Corp boosted its position in GameStop by 22.3% during the fourth quarter. Bank of New York Mellon Corp now owns 2,894,420 shares of the company’s stock worth $51,956,000 after purchasing an additional 527,083 shares during the period. Two Sigma Investments LP boosted its position in GameStop by 10.9% during the fourth quarter. Two Sigma Investments LP now owns 2,117,573 shares of the company’s stock worth $38,010,000 after purchasing an additional 207,860 shares during the period. Finally, Two Sigma Advisers LP boosted its position in GameStop by 7.8% during the fourth quarter. Two Sigma Advisers LP now owns 1,860,939 shares of the company’s stock worth $33,404,000 after purchasing an additional 134,352 shares during the period.
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GameStop 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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