GameStop (NYSE:GME) Announces Earnings Results

GameStop (NYSE:GME) posted its quarterly earnings results on Tuesday. The company reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.07), RTT News reports. The company had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $2.05 billion. GameStop had a net margin of 0.13% and a return on equity of 1.37%. The firm’s revenue for the quarter was down 19.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.16 earnings per share.

GameStop Stock Performance

Shares of NYSE GME opened at $13.17 on Thursday. The stock has a 50 day moving average of $14.30 and a 200-day moving average of $14.91. The company has a market capitalization of $4.02 billion, a P/E ratio of 658.58 and a beta of -0.42. GameStop has a 12 month low of $11.82 and a 12 month high of $27.65. The company has a current ratio of 1.65, a quick ratio of 0.94 and a debt-to-equity ratio of 0.02.

Institutional Trading of GameStop

Several institutional investors have recently added to or reduced their stakes in GME. Covestor Ltd grew its holdings in shares of GameStop by 323.2% during the 1st quarter. Covestor Ltd now owns 237 shares of the company’s stock worth $39,000 after purchasing an additional 181 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in GameStop in the first quarter valued at about $50,000. Comerica Bank bought a new position in GameStop in the second quarter valued at about $150,000. Captrust Financial Advisors increased its stake in shares of GameStop by 457.1% in the first quarter. Captrust Financial Advisors now owns 1,053 shares of the company’s stock valued at $175,000 after buying an additional 864 shares during the period. Finally, Neuberger Berman Group LLC acquired a new stake in shares of GameStop in the first quarter valued at about $288,000. 29.21% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on GME shares. StockNews.com upgraded GameStop from a “sell” rating to a “hold” rating in a research note on Wednesday. Wedbush reduced their target price on GameStop from $6.00 to $5.60 and set an “underperform” rating for the company in a research note on Wednesday.

About GameStop

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.