GameStop Corp. (GME) Stock Rating Reaffirmed by Robert W. Baird
GameStop Corp. (NYSE:GME)‘s stock had its “outperform” rating reiterated by Robert W. Baird in a report issued on Thursday. They currently have a $40.00 price objective on the stock. Robert W. Baird’s target price points to a potential upside of 47.66% from the stock’s current price.
Several other equities analysts also recently weighed in on the company. Wedbush restated an “outperform” rating and issued a $36.00 target price on shares of GameStop Corp. in a research report on Monday, May 23rd. Zacks Investment Research upgraded GameStop Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, May 24th. Piper Jaffray Cos. restated an “overweight” rating and issued a $41.00 target price on shares of GameStop Corp. in a research report on Wednesday, May 25th. Benchmark Co. restated a “sell” rating and issued a $24.99 target price (down previously from $26.33) on shares of GameStop Corp. in a research report on Friday, May 27th. Finally, Sterne Agee CRT restated a “neutral” rating on shares of GameStop Corp. in a research report on Friday, May 27th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $36.57.
GameStop Corp. (NYSE:GME) opened at 27.09 on Thursday. GameStop Corp. has a 12-month low of $24.33 and a 12-month high of $47.62. The company’s 50-day moving average price is $29.81 and its 200-day moving average price is $29.65. The stock has a market cap of $2.82 billion, a PE ratio of 7.14 and a beta of 1.03.
GameStop Corp. (NYSE:GME) last issued its quarterly earnings results on Thursday, August 25th. The company reported $0.27 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.27. The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.73 billion. GameStop Corp. had a return on equity of 19.44% and a net margin of 4.35%. GameStop Corp.’s revenue for the quarter was down 7.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.31 earnings per share. On average, equities analysts expect that GameStop Corp. will post $3.98 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 22nd. Stockholders of record on Friday, September 9th will be paid a $0.37 dividend. The ex-dividend date is Wednesday, September 7th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 5.46%. GameStop Corp.’s payout ratio is presently 39.05%.
In other news, EVP Michael Mauler acquired 10,000 shares of the company’s stock in a transaction dated Thursday, September 15th. The stock was acquired at an average cost of $26.91 per share, with a total value of $269,100.00. Following the completion of the purchase, the executive vice president now owns 120,922 shares of the company’s stock, valued at approximately $3,254,011.02. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 2.70% of the stock is owned by insiders.
Several large investors have recently modified their holdings of the stock. Highbridge Capital Management LLC bought a new position in GameStop Corp. during the fourth quarter worth about $5,177,000. Norges Bank bought a new position in GameStop Corp. during the fourth quarter worth about $32,268,000. Chevy Chase Trust Holdings Inc. raised its position in GameStop Corp. by 2.9% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 88,694 shares of the company’s stock worth $2,814,000 after buying an additional 2,501 shares during the period. Acadian Asset Management LLC raised its position in GameStop Corp. by 9,472.9% in the first quarter. Acadian Asset Management LLC now owns 25,464 shares of the company’s stock worth $808,000 after buying an additional 25,198 shares during the period. Finally, Coastline Trust Co raised its position in GameStop Corp. by 12.7% in the first quarter. Coastline Trust Co now owns 21,410 shares of the company’s stock worth $679,000 after buying an additional 2,420 shares during the period.
About GameStop Corp.
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. The Company operates its business in four Video Game Brands segments: United States, Canada, Australia and Europe, and Technology Brands segment.
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