GameStop Corp. (NYSE:GME) Expected to Announce Earnings of -$1.37 Per Share

Equities research analysts expect GameStop Corp. (NYSE:GMEGet Rating) to post earnings of ($1.37) per share for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for GameStop’s earnings. The lowest EPS estimate is ($2.49) and the highest is ($0.25). GameStop posted earnings of ($0.45) per share in the same quarter last year, which suggests a negative year over year growth rate of 204.4%. The firm is expected to announce its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that GameStop will report full-year earnings of ($4.93) per share for the current fiscal year, with EPS estimates ranging from ($7.52) to ($2.34). For the next financial year, analysts anticipate that the company will report earnings of ($3.00) per share, with EPS estimates ranging from ($4.32) to ($1.68). Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for GameStop.

GameStop (NYSE:GMEGet Rating) last posted its quarterly earnings data on Thursday, March 17th. The company reported ($1.86) earnings per share for the quarter, missing the consensus estimate of $0.84 by ($2.70). The firm had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.22 billion. GameStop had a negative net margin of 6.34% and a negative return on equity of 21.76%. GameStop’s revenue was up 6.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.34 earnings per share.

Several equities research analysts recently weighed in on GME shares. Wedbush decreased their price target on GameStop from $45.00 to $30.00 and set an “underperform” rating for the company in a report on Friday, March 18th. Zacks Investment Research downgraded GameStop from a “hold” rating to a “strong sell” rating and set a $80.00 price target for the company. in a report on Tuesday, March 22nd.

In other news, CAO Diana Saadeh-Jajeh sold 743 shares of GameStop stock in a transaction dated Tuesday, March 22nd. The stock was sold at an average price of $125.00, for a total value of $92,875.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Ryan Cohen purchased 100,000 shares of GameStop stock in a transaction that occurred on Tuesday, March 22nd. The shares were bought at an average cost of $101.76 per share, for a total transaction of $10,176,000.00. The disclosure for this purchase can be found here. Insiders own 2.40% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. increased its holdings in GameStop by 477.0% during the 1st quarter. JPMorgan Chase & Co. now owns 107,889 shares of the company’s stock worth $17,972,000 after purchasing an additional 89,190 shares during the last quarter. Patriot Financial Group Insurance Agency LLC increased its holdings in shares of GameStop by 101.0% in the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 798 shares of the company’s stock valued at $133,000 after acquiring an additional 401 shares during the last quarter. AGF Investments LLC increased its holdings in shares of GameStop by 90.6% in the 1st quarter. AGF Investments LLC now owns 7,002 shares of the company’s stock valued at $1,166,000 after acquiring an additional 3,328 shares during the last quarter. Valmark Advisers Inc. bought a new stake in shares of GameStop in the 1st quarter valued at approximately $260,000. Finally, Western Wealth Management LLC increased its holdings in shares of GameStop by 75.6% in the 1st quarter. Western Wealth Management LLC now owns 3,592 shares of the company’s stock valued at $598,000 after acquiring an additional 1,546 shares during the last quarter. Institutional investors own 38.25% of the company’s stock.

Shares of GME stock traded down $3.74 during trading hours on Wednesday, hitting $89.76. The stock had a trading volume of 57,417 shares, compared to its average volume of 4,101,483. The firm has a market capitalization of $6.85 billion, a PE ratio of -17.37 and a beta of -1.10. GameStop has a twelve month low of $77.58 and a twelve month high of $344.66. The stock’s 50 day moving average is $129.06 and its 200 day moving average is $144.51. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.92 and a quick ratio of 1.24.

About GameStop (Get Rating)

GameStop Corp., a specialty retailer, provides games and entertainment products through its e-commerce properties and various stores in the United States, Canada, Australia, and Europe. The company sells new and pre-owned gaming platforms; accessories, such as controllers, gaming headsets, virtual reality products, and memory cards; new and pre-owned gaming software; and in-game digital currency, digital downloadable content, and full-game downloads.

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