GameStop Corp. (GME) Stock Rating Reaffirmed by Robert W. Baird
GameStop Corp. (NYSE:GME)‘s stock had its “outperform” rating reiterated by stock analysts at Robert W. Baird in a research report issued to clients and investors on Thursday. They currently have a $40.00 target price on the stock. Robert W. Baird’s price objective indicates a potential upside of 47.66% from the company’s previous close.
Several other brokerages have also recently issued reports on GME. Piper Jaffray Cos. reissued an “outperform” rating and issued a $41.00 target price on shares of GameStop Corp. in a research report on Friday, August 26th. TheStreet raised GameStop Corp. from a “hold” rating to a “buy” rating in a research report on Tuesday, August 23rd. Credit Suisse Group AG reissued a “hold” rating and issued a $30.00 target price on shares of GameStop Corp. in a research report on Monday, August 22nd. Pacific Crest reaffirmed a “hold” rating on shares of GameStop Corp. in a research report on Monday, August 22nd. Finally, Zacks Investment Research raised GameStop Corp. from a “hold” rating to a “strong-buy” rating and set a $36.00 price objective on the stock in a research report on Wednesday, July 27th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $36.57.
GameStop Corp. (NYSE:GME) opened at 27.09 on Thursday. The company has a 50 day moving average of $29.81 and a 200 day moving average of $29.65. The company has a market capitalization of $2.82 billion, a PE ratio of 7.14 and a beta of 1.03. GameStop Corp. has a 52-week low of $24.33 and a 52-week high of $47.62.
GameStop Corp. (NYSE:GME) last announced its earnings results on Thursday, August 25th. The company reported $0.27 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.27. The business had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.73 billion. GameStop Corp. had a return on equity of 19.44% and a net margin of 4.35%. The business’s revenue for the quarter was down 7.4% on a year-over-year basis. During the same period last year, the firm posted $0.31 earnings per share. On average, equities research analysts forecast that GameStop Corp. will post $3.98 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 22nd. Stockholders of record on Friday, September 9th will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 5.46%. The ex-dividend date is Wednesday, September 7th. GameStop Corp.’s dividend payout ratio is currently 39.05%.
In other GameStop Corp. news, EVP Michael Mauler acquired 10,000 shares of the company’s stock in a transaction that occurred on Thursday, September 15th. The stock was bought at an average price of $26.91 per share, for a total transaction of $269,100.00. Following the acquisition, the executive vice president now directly owns 120,922 shares in the company, valued at $3,254,011.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.70% of the company’s stock.
A number of institutional investors have recently bought and sold shares of GME. Macquarie Group Ltd. boosted its position in GameStop Corp. by 30.9% in the second quarter. Macquarie Group Ltd. now owns 12,700 shares of the company’s stock worth $338,000 after buying an additional 3,000 shares during the last quarter. Northwestern Mutual Investment Management Company LLC boosted its position in GameStop Corp. by 349.2% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 17,947 shares of the company’s stock worth $477,000 after buying an additional 13,952 shares during the last quarter. Mason Street Advisors LLC acquired a new position in GameStop Corp. during the second quarter worth about $1,260,000. Amalgamated Bank boosted its position in GameStop Corp. by 5.8% in the second quarter. Amalgamated Bank now owns 13,923 shares of the company’s stock worth $433,000 after buying an additional 760 shares during the last quarter. Finally, Fiera Capital Corp boosted its position in GameStop Corp. by 1.0% in the second quarter. Fiera Capital Corp now owns 68,130 shares of the company’s stock worth $1,811,000 after buying an additional 700 shares during the last quarter.
GameStop Corp. 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. 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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