$2.05 Billion in Sales Expected for GameStop Corp. (GME) This Quarter

Analysts expect that GameStop Corp. (NYSE:GME) will post sales of $2.05 billion for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for GameStop’s earnings, with estimates ranging from $2.02 billion to $2.10 billion. GameStop reported sales of $1.99 billion in the same quarter last year, which would suggest a positive year over year growth rate of 3%. The firm is scheduled to issue its next quarterly earnings results on Tuesday, November 20th.

According to Zacks, analysts expect that GameStop will report full year sales of $8.91 billion for the current financial year, with estimates ranging from $8.87 billion to $8.95 billion. For the next fiscal year, analysts expect that the firm will report sales of $8.83 billion, with estimates ranging from $8.66 billion to $9.05 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for GameStop.

GameStop (NYSE:GME) last issued its quarterly earnings results on Thursday, September 6th. The company reported $0.05 EPS for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.03). GameStop had a positive return on equity of 13.78% and a negative net margin of 0.48%. The company had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter in the previous year, the business posted $0.15 EPS. The firm’s revenue for the quarter was down 2.4% on a year-over-year basis.



GME has been the topic of a number of recent analyst reports. Jefferies Financial Group set a $18.00 price target on GameStop and gave the stock a “buy” rating in a research report on Wednesday, September 5th. Wedbush set a $19.00 price objective on GameStop and gave the company a “buy” rating in a research note on Friday, September 7th. Bank of America set a $10.00 price objective on GameStop and gave the company a “sell” rating in a research note on Wednesday, October 3rd. Zacks Investment Research lowered GameStop from a “hold” rating to a “sell” rating in a research note on Tuesday, August 28th. Finally, Credit Suisse Group set a $15.00 price objective on GameStop and gave the company a “hold” rating in a research note on Friday, September 7th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $14.73.

A number of large investors have recently added to or reduced their stakes in the stock. Metropolitan Life Insurance Co. NY boosted its stake in GameStop by 12.0% in the second quarter. Metropolitan Life Insurance Co. NY now owns 32,677 shares of the company’s stock valued at $476,000 after buying an additional 3,496 shares in the last quarter. Raymond James & Associates boosted its stake in shares of GameStop by 22.0% during the second quarter. Raymond James & Associates now owns 21,982 shares of the company’s stock valued at $320,000 after purchasing an additional 3,959 shares in the last quarter. Oppenheimer & Co. Inc. boosted its stake in shares of GameStop by 43.2% during the second quarter. Oppenheimer & Co. Inc. now owns 14,750 shares of the company’s stock valued at $215,000 after purchasing an additional 4,450 shares in the last quarter. United Services Automobile Association boosted its stake in shares of GameStop by 11.7% during the second quarter. United Services Automobile Association now owns 51,583 shares of the company’s stock valued at $752,000 after purchasing an additional 5,406 shares in the last quarter. Finally, Eqis Capital Management Inc. boosted its stake in shares of GameStop by 20.0% during the second quarter. Eqis Capital Management Inc. now owns 35,097 shares of the company’s stock valued at $511,000 after purchasing an additional 5,844 shares in the last quarter.

Shares of NYSE GME opened at $14.60 on Thursday. The company has a current ratio of 1.45, a quick ratio of 0.48 and a debt-to-equity ratio of 0.39. GameStop has a 52 week low of $12.20 and a 52 week high of $20.31. The firm has a market capitalization of $1.40 billion, a P/E ratio of 4.37 and a beta of 1.28.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 2nd. Investors of record on Tuesday, September 18th were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 10.41%. The ex-dividend date of this dividend was Monday, September 17th. GameStop’s dividend payout ratio (DPR) is presently 45.51%.

About GameStop

GameStop Corp. operates as a multichannel video game, consumer electronics, and wireless services retailer. It operates in five segments: United States, Canada, Australia, Europe, and Technology Brands. 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; and digital products, such as downloadable content, network points cards, prepaid digital and prepaid subscription cards, and digitally downloadable software.

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