GameStop Corp. (NYSE:GME) – Investment analysts at Jefferies Financial Group decreased their FY2021 earnings estimates for shares of GameStop in a research note issued to investors on Wednesday, September 9th. Jefferies Financial Group analyst S. Wissink now anticipates that the company will earn ($1.42) per share for the year, down from their prior forecast of ($1.08). Jefferies Financial Group currently has a “Buy” rating and a $8.00 price target on the stock. Jefferies Financial Group also issued estimates for GameStop’s Q1 2022 earnings at ($0.42) EPS, Q2 2022 earnings at ($0.95) EPS, Q4 2022 earnings at $2.07 EPS and FY2022 earnings at $0.56 EPS.
GME has been the topic of several other reports. Telsey Advisory Group upgraded GameStop from a “market perform” rating to an “outperform” rating and raised their target price for the company from $9.00 to $10.00 in a research report on Monday. Benchmark reiterated a “sell” rating and set a $3.00 price target on shares of GameStop in a research report on Thursday, September 10th. Wedbush lifted their price target on GameStop from $5.00 to $8.00 and gave the company a “neutral” rating in a research report on Tuesday, September 8th. Ascendiant Capital Markets lifted their price target on GameStop from $3.00 to $4.00 and gave the company a “hold” rating in a research report on Thursday, June 11th. Finally, Credit Suisse Group lowered their price target on GameStop from $4.50 to $3.50 and set an “underperform” rating on the stock in a research report on Friday, June 5th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $6.06.
GameStop (NYSE:GME) last announced its quarterly earnings results on Wednesday, September 9th. The company reported ($1.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.13) by ($0.27). GameStop had a negative return on equity of 29.98% and a negative net margin of 6.07%. The company had revenue of $942.00 million for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the previous year, the company posted ($0.32) earnings per share. The firm’s revenue for the quarter was down 26.7% compared to the same quarter last year.
Several institutional investors have recently modified their holdings of GME. Emerald Mutual Fund Advisers Trust acquired a new stake in shares of GameStop in the second quarter worth $32,000. Advisor Group Holdings Inc. acquired a new stake in shares of GameStop in the first quarter worth $32,000. Two Sigma Securities LLC acquired a new stake in GameStop during the first quarter valued at $38,000. Investors Research Corp boosted its position in GameStop by 100.0% during the second quarter. Investors Research Corp now owns 10,270 shares of the company’s stock valued at $40,000 after purchasing an additional 5,135 shares during the last quarter. Finally, Honkamp Krueger Financial Services Inc. acquired a new stake in GameStop during the second quarter valued at $43,000.
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.
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