GameStop (NYSE:GME) Releases Earnings Results, Misses Estimates By $0.07 EPS

GameStop (NYSE:GME) released its earnings results on Tuesday. The company reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.07), RTT News reports. The firm had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $2.05 billion. GameStop had a net margin of 0.13% and a return on equity of 1.37%. The firm’s quarterly revenue was down 19.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.16 EPS.

GameStop Trading Down 15.1 %

Shares of GameStop stock opened at $13.17 on Thursday. The company has a current ratio of 1.65, a quick ratio of 0.94 and a debt-to-equity ratio of 0.02. GameStop has a 12-month low of $11.82 and a 12-month high of $27.65. The firm has a market capitalization of $4.02 billion, a price-to-earnings ratio of 658.58 and a beta of -0.42. The firm’s 50 day simple moving average is $14.30 and its two-hundred day simple moving average is $14.91.

Institutional Trading of GameStop

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD increased its stake in shares of GameStop by 9.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 174,571 shares of the company’s stock worth $3,061,000 after acquiring an additional 14,404 shares during the period. Public Employees Retirement System of Ohio grew its position in GameStop by 3.5% during the fourth quarter. Public Employees Retirement System of Ohio now owns 116,462 shares of the company’s stock valued at $2,042,000 after buying an additional 3,891 shares during the period. Vanguard Group Inc. grew its position in GameStop by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 25,450,256 shares of the company’s stock valued at $446,143,000 after buying an additional 167,145 shares during the period. Voya Investment Management LLC grew its position in GameStop by 4.5% during the fourth quarter. Voya Investment Management LLC now owns 57,845 shares of the company’s stock valued at $1,014,000 after buying an additional 2,480 shares during the period. Finally, Vident Advisory LLC acquired a new stake in GameStop during the fourth quarter valued at $201,000. Institutional investors and hedge funds own 29.21% of the company’s stock.

Analysts Set New Price Targets

GME has been the topic of a number of research reports. Wedbush reduced their target price on shares of GameStop from $6.00 to $5.60 and set an “underperform” rating on the stock in a report on Wednesday. StockNews.com raised shares of GameStop from a “sell” rating to a “hold” rating in a research report on Wednesday.

About GameStop

GameStop Corp., a specialty retailer, provides games and entertainment products through its stores and ecommerce platforms in the United States, Canada, Australia, and Europe. The company sells new and pre-owned gaming platforms; accessories, such as controllers, gaming headsets, and virtual reality products; new and pre-owned gaming software; and in-game digital currency, digital downloadable content, and full-game downloads.