GameStop (GME) Announces Quarterly Earnings Results

GameStop (NYSE:GME) released its quarterly earnings data on Thursday. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.11, Bloomberg Earnings reports. The firm had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.03 billion. GameStop had a positive return on equity of 13.78% and a negative net margin of 0.48%. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.54 earnings per share. GameStop updated its FY 2018 guidance to $2.55-2.75 EPS and its FY19 guidance to $2.55-2.75 EPS.

Shares of GME stock opened at $14.63 on Friday. GameStop has a 52 week low of $12.14 and a 52 week high of $20.31. The firm has a market capitalization of $1.53 billion, a P/E ratio of 4.38 and a beta of 1.13. The company has a quick ratio of 0.48, a current ratio of 1.45 and a debt-to-equity ratio of 0.39.

GME has been the subject of a number of analyst reports. Bank of America set a $10.00 price objective on GameStop and gave the company a “sell” rating in a research note on Saturday, October 20th. Jefferies Financial Group set a $18.00 price objective on GameStop and gave the company a “buy” rating in a research note 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. 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. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. GameStop currently has a consensus rating of “Hold” and an average price target of $15.25.



A number of hedge funds have recently made changes to their positions in GME. BlackRock Inc. lifted its stake in GameStop by 51.4% in the second quarter. BlackRock Inc. now owns 14,249,376 shares of the company’s stock worth $207,613,000 after acquiring an additional 4,840,340 shares during the period. Wells Fargo & Company MN lifted its stake in GameStop by 93.2% in the second quarter. Wells Fargo & Company MN now owns 1,691,999 shares of the company’s stock worth $24,653,000 after acquiring an additional 816,080 shares during the period. Stelliam Investment Management LP purchased a new stake in GameStop in the second quarter worth $9,871,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in GameStop in the third quarter worth $9,591,000. Finally, Northern Trust Corp lifted its stake in GameStop by 46.6% in the second quarter. Northern Trust Corp now owns 1,267,974 shares of the company’s stock worth $18,475,000 after acquiring an additional 403,233 shares during the period.

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GameStop Company Profile

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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Earnings History for GameStop (NYSE:GME)

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