Wedbush Analysts Give GameStop (GME) a $23.00 Price Target
“For 4Q17 results due Thurs, we expect revenues of $36.7M (consensus $36.1M), EBITDA of $28.3M (consensus $27.4M), and earnings per common unit of $0.21 (consensus $0.19), all above consensus. Already announced, a 4Q17 distribution of 0.4225 is unchanged, yielding 15.6% on an annual basis.”,” the firm’s analyst wrote.
A number of other equities research analysts have also recently issued reports on GME. Oppenheimer reiterated a hold rating on shares of GameStop in a research note on Wednesday, November 22nd. Loop Capital reiterated a buy rating and issued a $28.00 target price on shares of GameStop in a research note on Wednesday, November 22nd. Benchmark reiterated a sell rating and issued a $15.00 target price (down from $18.00) on shares of GameStop in a research note on Wednesday, November 22nd. ValuEngine upgraded GameStop from a hold rating to a buy rating in a research note on Friday, December 1st. Finally, Bank of America reiterated a hold rating and issued a $23.00 target price on shares of GameStop in a research note on Wednesday, November 22nd. One analyst has rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $22.23.
GameStop (NYSE:GME) last released its quarterly earnings data on Tuesday, November 21st. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.11. The firm had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.98 billion. GameStop had a net margin of 3.98% and a return on equity of 16.50%. The firm’s revenue was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.49 earnings per share. equities analysts forecast that GameStop will post 3.23 EPS for the current year.
In related news, Director Stephanie M. Shern sold 4,000 shares of GameStop stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $17.91, for a total transaction of $71,640.00. Following the sale, the director now directly owns 13,474 shares in the company, valued at $241,319.34. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 2.80% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Macquarie Group Ltd. bought a new stake in shares of GameStop during the third quarter valued at about $112,000. State of Alaska Department of Revenue bought a new stake in shares of GameStop during the fourth quarter valued at about $104,000. SeaCrest Wealth Management LLC bought a new stake in shares of GameStop during the fourth quarter valued at about $140,000. Kovack Advisors Inc. bought a new stake in shares of GameStop during the fourth quarter valued at about $181,000. Finally, Unison Advisors LLC bought a new stake in shares of GameStop during the fourth quarter valued at about $198,000.
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GameStop 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. It operates its business in five segments, which consists of four Video Game Brands segments: United States, Canada, Australia and Europe, and Technology Brands segment.
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