GameStop Corp. (NYSE:GME)‘s stock had its “outperform” rating reissued by Macquarie in a research note issued to investors on Saturday. They presently have a $36.00 price target on the stock. Macquarie’s price objective suggests a potential upside of 41.84% from the company’s previous close.
Several other research firms have also recently weighed in on GME. Piper Jaffray Cos. reissued an “outperform” rating and set a $41.00 price objective on shares of GameStop Corp. in a research report on Friday, August 26th. Robert W. Baird lowered their price target on GameStop Corp. from $42.00 to $40.00 and set an “outperform” rating on the stock in a research note on Friday, August 26th. TheStreet upgraded GameStop Corp. from a “hold” rating to a “buy” rating in a research note on Tuesday, August 23rd. Pacific Crest restated a “hold” rating on shares of GameStop Corp. in a research note on Monday, August 22nd. Finally, Credit Suisse Group AG restated a “hold” rating and set a $30.00 price target on shares of GameStop Corp. in a research note on Monday, August 22nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $36.71.
Shares of GameStop Corp. (NYSE:GME) traded down 0.35% during mid-day trading on Friday, reaching $25.38. The company’s stock had a trading volume of 3,136,105 shares. GameStop Corp. has a 12 month low of $24.33 and a 12 month high of $47.62. The firm has a market capitalization of $2.64 billion, a P/E ratio of 6.69 and a beta of 1.08. The company has a 50 day moving average of $27.45 and a 200-day moving average of $29.07.
GameStop Corp. (NYSE:GME) last posted its quarterly earnings data on Thursday, August 25th. The company reported $0.27 earnings per share for the quarter, hitting the consensus estimate of $0.27. GameStop Corp. had a return on equity of 19.44% and a net margin of 4.35%. The business earned $1.63 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter in the previous year, the firm earned $0.31 EPS. The firm’s revenue was down 7.4% compared to the same quarter last year. Equities research analysts forecast that GameStop Corp. will post $3.99 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 22nd. Investors of record on Friday, September 9th were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Wednesday, September 7th. This represents a $1.48 dividend on an annualized basis and a yield of 5.83%. GameStop Corp.’s dividend payout ratio (DPR) is presently 39.05%.
In other GameStop Corp. news, EVP Michael Mauler purchased 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 15th. The shares were acquired at an average cost of $26.91 per share, for a total transaction of $269,100.00. Following the transaction, the executive vice president now directly owns 120,922 shares in the company, valued at $3,254,011.02. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.70% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Groesbeck Investment Management Corp NJ raised its stake in GameStop Corp. by 50.8% in the first quarter. Groesbeck Investment Management Corp NJ now owns 94,150 shares of the company’s stock worth $2,987,000 after buying an additional 31,700 shares during the period. AXA raised its stake in GameStop Corp. by 0.7% in the first quarter. AXA now owns 1,045,018 shares of the company’s stock worth $33,158,000 after buying an additional 7,000 shares during the period. Meeder Asset Management Inc. raised its stake in GameStop Corp. by 42.8% in the first quarter. Meeder Asset Management Inc. now owns 23,627 shares of the company’s stock worth $750,000 after buying an additional 7,082 shares during the period. OMERS ADMINISTRATION Corp acquired a new stake in GameStop Corp. during the first quarter worth approximately $2,624,000. Finally, Canada Pension Plan Investment Board raised its stake in GameStop Corp. by 172.7% in the first quarter. Canada Pension Plan Investment Board now owns 262,900 shares of the company’s stock worth $8,342,000 after buying an additional 166,500 shares during the period.
GameStop Corp. Company Profile
GameStop Corp. is an omnichannel video game retailer. The Company sells video game hardware, physical and digital video game software, video game accessories, as well as mobile and consumer electronics products and other merchandise through its GameStop, EB Games and Micromania stores. The Company operates its business in four Video Game Brands segments: United States, Canada, Australia and Europe, and Technology Brands segment.
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