GameStop Corp. (NYSE:GME) Expected to Announce Earnings of -$0.73 Per Share

Brokerages expect GameStop Corp. (NYSE:GME) to announce ($0.73) earnings per share for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for GameStop’s earnings. The highest EPS estimate is ($0.38) and the lowest is ($1.37). GameStop posted earnings per share of ($1.40) in the same quarter last year, which would suggest a positive year-over-year growth rate of 47.9%. The company is expected to announce its next earnings results on Wednesday, September 8th.

According to Zacks, analysts expect that GameStop will report full-year earnings of ($1.23) per share for the current year, with EPS estimates ranging from ($2.96) to $0.40. For the next year, analysts expect that the company will post earnings of ($0.64) per share, with EPS estimates ranging from ($2.62) to $1.40. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that cover GameStop.

GameStop (NYSE:GME) last announced its earnings results on Tuesday, June 8th. The company reported ($0.45) earnings per share for the quarter, beating the consensus estimate of ($0.83) by $0.38. The firm had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.16 billion. GameStop had a negative return on equity of 12.78% and a negative net margin of 2.18%. The firm’s revenue for the quarter was up 25.1% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.61) EPS.

Several analysts have weighed in on the company. Credit Suisse Group reaffirmed a “sell” rating on shares of GameStop in a research note on Thursday, April 1st. Zacks Investment Research cut GameStop from a “buy” rating to a “hold” rating and set a $231.00 price target on the stock. in a research report on Friday, June 11th. Telsey Advisory Group lowered their price target on GameStop from $33.00 to $30.00 and set an “underperform” rating on the stock in a research report on Wednesday, March 24th. Wedbush lifted their target price on GameStop from $39.00 to $50.00 and gave the stock an “underperform” rating in a report on Thursday, June 10th. Finally, Ascendiant Capital Markets lifted their target price on GameStop from $10.00 to $25.00 and gave the stock a “sell” rating in a report on Monday, July 12th. Five research analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. The company currently has an average rating of “Sell” and a consensus price target of $51.86.

GameStop stock traded down $5.71 during mid-day trading on Friday, hitting $180.10. 16,430 shares of the company’s stock traded hands, compared to its average volume of 3,393,725. The company has a 50 day moving average price of $210.49. The firm has a market cap of $12.93 billion, a P/E ratio of -102.09 and a beta of -2.14. GameStop has a one year low of $3.92 and a one year high of $483.00.

In related news, Director James Grube sold 1,900 shares of GameStop stock in a transaction on Wednesday, June 23rd. The stock was sold at an average price of $217.78, for a total transaction of $413,782.00. Following the completion of the sale, the director now owns 2,023 shares of the company’s stock, valued at $440,568.94. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 2.40% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company lifted its position in shares of GameStop by 0.9% in the fourth quarter. The Manufacturers Life Insurance Company now owns 34,674 shares of the company’s stock worth $653,000 after buying an additional 326 shares during the last quarter. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of GameStop in the fourth quarter worth about $1,253,000. LPL Financial LLC lifted its position in shares of GameStop by 17.7% in the fourth quarter. LPL Financial LLC now owns 21,548 shares of the company’s stock worth $406,000 after buying an additional 3,236 shares during the last quarter. Vantage Consulting Group Inc acquired a new stake in shares of GameStop in the fourth quarter worth about $47,000. Finally, Clear Creek Financial Management LLC acquired a new stake in shares of GameStop in the fourth quarter worth about $2,780,000. 35.83% of the stock is owned by hedge funds and other institutional investors.

GameStop Company Profile

GameStop Corp. engages in the retail of multichannel video game, consumer electronics, and wireless services. It operates through the following segments: United States, Canada, Australia, and Europe. The United States segment includes the retail operations and electronic commerce websites www.gamestop.com and www.thinkgeek.com, Game Informer magazine, and Kongregate.

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