GameStop (NYSE:GME) Posts Earnings Results, Misses Expectations By $0.10 EPS

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GameStop (NYSE:GME) released its earnings results on Tuesday. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.10), RTT News reports. GameStop had a positive return on equity of 14.55% and a negative net margin of 8.32%. The firm had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter in the previous year, the firm earned $0.05 EPS. GameStop updated its FY 2019 guidance to $1.15-1.30 EPS.

NYSE:GME opened at $4.59 on Thursday. GameStop has a 1 year low of $3.15 and a 1 year high of $17.04. The company has a current ratio of 1.48, a quick ratio of 0.59 and a debt-to-equity ratio of 0.79. The stock has a market cap of $486.80 million, a price-to-earnings ratio of 2.14 and a beta of 0.36. The stock has a 50-day moving average price of $3.85 and a two-hundred day moving average price of $7.06.

A number of brokerages recently commented on GME. ValuEngine raised GameStop from a “sell” rating to a “hold” rating in a research note on Tuesday. Ascendiant Capital Markets cut GameStop from a “buy” rating to a “hold” rating and set a $4.00 price objective for the company. in a research note on Wednesday, June 5th. Loop Capital decreased their price objective on GameStop to $4.00 and set a “hold” rating for the company in a research note on Tuesday, September 3rd. Benchmark reaffirmed a “sell” rating and set a $3.00 price objective (down from $5.00) on shares of GameStop in a research note on Wednesday. They noted that the move was a valuation call. Finally, Wedbush decreased their price objective on GameStop from $9.00 to $8.00 and set an “outperform” rating for the company in a research note on Wednesday. Four analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $8.35.

A number of large investors have recently bought and sold shares of the business. Magnetar Financial LLC acquired a new position in GameStop in the second quarter valued at about $223,000. United Services Automobile Association grew its stake in GameStop by 12.4% in the second quarter. United Services Automobile Association now owns 36,164 shares of the company’s stock valued at $198,000 after acquiring an additional 4,003 shares during the period. Factorial Partners LLC grew its stake in GameStop by 17.8% in the second quarter. Factorial Partners LLC now owns 53,000 shares of the company’s stock valued at $290,000 after acquiring an additional 8,000 shares during the period. Voloridge Investment Management LLC grew its stake in GameStop by 168.5% in the second quarter. Voloridge Investment Management LLC now owns 424,081 shares of the company’s stock valued at $2,320,000 after acquiring an additional 266,155 shares during the period. Finally, Nuveen Asset Management LLC acquired a new position in GameStop in the second quarter valued at about $2,642,000.

GameStop Company Profile

GameStop Corp. operates as a multichannel video game and consumer electronics retailer in the United States, Canada, Australia, and Europe. The company sells new and pre-owned video game hardware; video game software; pre-owned and value video games; video game accessories, including controllers, gaming headsets, virtual reality products, memory cards, and other add-ons for use with video game hardware and software; and digital products, such as downloadable content, network points cards, prepaid digital and prepaid subscription cards, and digitally downloadable software, as well as collectible products.

Read More: What does a hold rating mean?

Earnings History for GameStop (NYSE:GME)

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