GameStop (NYSE:GME) Issues Quarterly Earnings Results

GameStop (NYSE:GME) announced its quarterly earnings results on Tuesday. The company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.07), RTT News reports. The company had revenue of $1.79 billion for the quarter, compared to analyst estimates of $2.05 billion. GameStop had a negative return on equity of 0.11% and a negative net margin of 0.14%. The firm’s quarterly revenue was down 19.4% on a year-over-year basis. During the same quarter last year, the company posted $0.16 earnings per share.

GameStop Price Performance

GameStop stock opened at $13.11 on Wednesday. GameStop has a 52 week low of $11.82 and a 52 week high of $27.65. The company’s 50 day moving average price is $14.29 and its two-hundred day moving average price is $14.94. The company has a quick ratio of 0.94, a current ratio of 1.65 and a debt-to-equity ratio of 0.02. The stock has a market cap of $4.01 billion, a P/E ratio of -517.83 and a beta of -0.42.

Analyst Upgrades and Downgrades

A number of brokerages have commented on GME. Wedbush cut their price target on shares of GameStop from $6.00 to $5.60 and set an “underperform” rating on the stock in a research report on Wednesday. StockNews.com upgraded GameStop from a “sell” rating to a “hold” rating in a report on Wednesday.

Institutional Investors Weigh In On GameStop

Hedge funds have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD raised its holdings in GameStop by 9.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 174,571 shares of the company’s stock valued at $3,061,000 after acquiring an additional 14,404 shares during the period. Public Employees Retirement System of Ohio grew its position in shares of GameStop by 3.5% during the 4th quarter. Public Employees Retirement System of Ohio now owns 116,462 shares of the company’s stock valued at $2,042,000 after purchasing an additional 3,891 shares in the last quarter. Vanguard Group Inc. grew its position in shares of GameStop by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 25,450,256 shares of the company’s stock valued at $446,143,000 after purchasing an additional 167,145 shares in the last quarter. Voya Investment Management LLC grew its position in shares of GameStop by 4.5% during the 4th quarter. Voya Investment Management LLC now owns 57,845 shares of the company’s stock valued at $1,014,000 after purchasing an additional 2,480 shares in the last quarter. Finally, Vident Advisory LLC purchased a new position in GameStop in the fourth quarter worth $201,000. Institutional investors own 29.21% of the company’s stock.

GameStop Company Profile

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.