Gamestop Corporation (NYSE:GME) Expected to Announce Quarterly Sales of $1.62 Billion
Wall Street brokerages predict that Gamestop Corporation (NYSE:GME) will announce sales of $1.62 billion for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Gamestop Corporation’s earnings. The lowest sales estimate is $1.60 billion and the highest is $1.63 billion. Gamestop Corporation posted sales of $1.63 billion during the same quarter last year, which suggests a negative year-over-year growth rate of 0.6%. The company is expected to report its next quarterly earnings report after the market closes on Thursday, August 24th.
On average, analysts expect that Gamestop Corporation will report full year sales of $1.62 billion for the current financial year, with estimates ranging from $8.51 billion to $8.83 billion. For the next financial year, analysts forecast that the company will report sales of $8.55 billion per share, with estimates ranging from $8.24 billion to $8.69 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Gamestop Corporation.
Gamestop Corporation (NYSE:GME) last released its quarterly earnings data on Thursday, May 25th. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.12. Gamestop Corporation had a net margin of 3.99% and a return on equity of 17.55%. The business had revenue of $2.05 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same quarter last year, the firm earned $0.66 EPS. Gamestop Corporation’s quarterly revenue was up 3.8% compared to the same quarter last year.
GME has been the topic of a number of research analyst reports. Vetr cut Gamestop Corporation from a “strong-buy” rating to a “buy” rating and set a $26.42 price target on the stock. in a report on Wednesday, April 26th. Mizuho restated a “buy” rating and set a $27.00 price target on shares of Gamestop Corporation in a report on Tuesday, April 18th. Loop Capital restated a “buy” rating and set a $28.00 price target on shares of Gamestop Corporation in a report on Sunday, May 28th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Gamestop Corporation in a report on Thursday, May 25th. Finally, Bank of America Corporation set a $27.00 price target on Gamestop Corporation and gave the stock a “hold” rating in a report on Saturday, May 13th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have given a buy rating to the company. Gamestop Corporation currently has a consensus rating of “Hold” and an average price target of $24.84.
Gamestop Corporation (GME) opened at 21.76 on Friday. The company’s 50-day moving average is $21.35 and its 200 day moving average is $22.97. Gamestop Corporation has a 1-year low of $20.10 and a 1-year high of $32.67. The company has a market cap of $2.20 billion, a price-to-earnings ratio of 6.48 and a beta of 1.20.
Large investors have recently added to or reduced their stakes in the stock. Cubic Asset Management LLC raised its stake in Gamestop Corporation by 0.3% in the second quarter. Cubic Asset Management LLC now owns 39,465 shares of the company’s stock worth $853,000 after buying an additional 125 shares during the last quarter. Fairbanks Capital Management Inc. bought a new stake in Gamestop Corporation during the second quarter worth approximately $3,494,000. Raymond James Financial Services Advisors Inc. raised its stake in Gamestop Corporation by 1.6% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 14,270 shares of the company’s stock worth $322,000 after buying an additional 230 shares during the last quarter. Rothschild Investment Corp IL raised its stake in Gamestop Corporation by 1.5% in the first quarter. Rothschild Investment Corp IL now owns 16,924 shares of the company’s stock worth $382,000 after buying an additional 250 shares during the last quarter. Finally, Point View Wealth Management Inc. raised its stake in Gamestop Corporation by 2.0% in the first quarter. Point View Wealth Management Inc. now owns 15,642 shares of the company’s stock worth $353,000 after buying an additional 300 shares during the last quarter. 99.62% of the stock is owned by institutional investors and hedge funds.
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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