Gamestop Corporation (GME) Reaches New 1-Year Low at $18.60
Gamestop Corporation (NYSE:GME) reached a new 52-week low during trading on Thursday . The stock traded as low as $18.60 and last traded at $18.57, with a volume of 1,294,681 shares changing hands. The stock had previously closed at $18.79.
Several research firms have recently issued reports on GME. Telsey Advisory Group raised shares of Gamestop Corporation from a “market perform” rating to an “outperform” rating in a research note on Wednesday, May 10th. Loop Capital reissued a “buy” rating and set a $28.00 target price on shares of Gamestop Corporation in a research note on Wednesday, August 23rd. Zacks Investment Research lowered shares of Gamestop Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Gamestop Corporation in a research note on Thursday, May 25th. Finally, Mizuho reissued a “buy” rating and set a $27.00 target price on shares of Gamestop Corporation in a research note on Saturday, May 27th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the company’s stock. Gamestop Corporation presently has an average rating of “Hold” and an average price target of $24.84.
The firm has a market capitalization of $1.89 billion, a P/E ratio of 5.62 and a beta of 1.20. The company’s 50 day moving average price is $21.00 and its 200-day moving average price is $22.52.
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 the consensus estimate of $0.16 by $0.01. Gamestop Corporation had a net margin of 3.90% and a return on equity of 16.66%. The business had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.64 billion. During the same period last year, the company earned $0.27 EPS. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. Analysts expect that Gamestop Corporation will post $3.32 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 21st. Shareholders of record on Friday, September 8th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 8.14%. The ex-dividend date of this dividend is Thursday, September 7th. Gamestop Corporation’s dividend payout ratio (DPR) is presently 45.65%.
Several institutional investors have recently made changes to their positions in GME. Fairbanks Capital Management Inc. purchased a new position in shares of Gamestop Corporation during the second quarter valued at about $3,494,000. Westpac Banking Corp purchased a new position in shares of Gamestop Corporation during the first quarter valued at about $134,000. Camarda Financial Advisors LLC increased its position 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 valued at $112,000 after buying an additional 447 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Gamestop Corporation by 126.9% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,616 shares of the company’s stock valued at $149,000 after buying an additional 3,700 shares during the last quarter. Finally, BlueMountain Capital Management LLC purchased a new position in shares of Gamestop Corporation during the second quarter valued at about $162,000.
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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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