GameStop Corp. (NYSE:GME) to Post Q2 2023 Earnings of ($0.85) Per Share, Jefferies Financial Group Forecasts

GameStop Corp. (NYSE:GMEGet Rating) – Research analysts at Jefferies Financial Group dropped their Q2 2023 earnings per share (EPS) estimates for GameStop in a research report issued on Thursday, June 2nd. Jefferies Financial Group analyst S. Wissink now expects that the company will post earnings per share of ($0.85) for the quarter, down from their prior forecast of ($0.40). Jefferies Financial Group also issued estimates for GameStop’s Q3 2023 earnings at ($1.12) EPS, Q4 2023 earnings at ($1.16) EPS, FY2023 earnings at ($5.20) EPS, Q1 2024 earnings at ($0.86) EPS, Q2 2024 earnings at ($0.64) EPS, Q3 2024 earnings at ($0.97) EPS, Q4 2024 earnings at ($0.61) EPS and FY2024 earnings at ($3.08) EPS.

GME has been the topic of several other research reports. Wedbush reaffirmed an “underperform” rating and issued a $30.00 price objective on shares of GameStop in a research report on Thursday. Zacks Investment Research raised shares of GameStop from a “strong sell” rating to a “hold” rating and set a $97.00 price objective on the stock in a research report on Wednesday, May 18th.

Shares of GME stock opened at $133.70 on Monday. The firm has a market cap of $10.21 billion, a price-to-earnings ratio of -21.36 and a beta of -1.07. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.24 and a current ratio of 2.07. GameStop has a 52 week low of $77.58 and a 52 week high of $344.66. The firm’s 50-day simple moving average is $130.35 and its two-hundred day simple moving average is $132.49.

GameStop (NYSE:GMEGet Rating) last announced its quarterly earnings data on Wednesday, June 1st. The company reported ($2.08) EPS for the quarter, missing the consensus estimate of ($1.45) by ($0.63). The company had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.32 billion. GameStop had a negative return on equity of 27.61% and a negative net margin of 7.73%. The business’s revenue was up 8.0% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.45) EPS.

Large investors have recently modified their holdings of the stock. Xponance Inc. grew its stake in GameStop by 0.6% in the 1st quarter. Xponance Inc. now owns 13,459 shares of the company’s stock worth $2,242,000 after buying an additional 76 shares in the last quarter. Penserra Capital Management LLC grew its stake in GameStop by 43.0% in the 4th quarter. Penserra Capital Management LLC now owns 286 shares of the company’s stock worth $42,000 after buying an additional 86 shares in the last quarter. Thrivent Financial for Lutherans grew its stake in GameStop by 0.5% in the 4th quarter. Thrivent Financial for Lutherans now owns 16,417 shares of the company’s stock worth $2,436,000 after buying an additional 86 shares in the last quarter. Sittner & Nelson LLC grew its stake in GameStop by 69.6% in the 4th quarter. Sittner & Nelson LLC now owns 229 shares of the company’s stock worth $34,000 after buying an additional 94 shares in the last quarter. Finally, Gables Capital Management Inc. grew its stake in GameStop by 50.0% in the 1st quarter. Gables Capital Management Inc. now owns 300 shares of the company’s stock worth $50,000 after buying an additional 100 shares in the last quarter. 38.25% of the stock is owned by institutional investors.

In other news, Director Alain Attal acquired 1,500 shares of GameStop stock in a transaction that occurred on Thursday, March 24th. The stock was bought at an average price of $129.91 per share, with a total value of $194,865.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ryan Cohen acquired 100,000 shares of GameStop stock in a transaction that occurred on Tuesday, March 22nd. The shares were purchased at an average cost of $101.76 per share, with a total value of $10,176,000.00. The disclosure for this purchase can be found here. Insiders own 2.40% of the company’s stock.

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.

Further Reading

Earnings History and Estimates for GameStop (NYSE:GME)

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