GameStop (NYSE:GME) Announces Earnings Results

GameStop (NYSE:GME) announced its quarterly earnings results on Tuesday. The company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.09, RTT News reports. GameStop had a net margin of 0.51% and a return on equity of 1.78%. The firm had revenue of $798.30 million for the quarter, compared to analyst estimates of $895.67 million. During the same quarter in the previous year, the firm posted ($0.03) earnings per share. The business’s revenue was down 31.4% on a year-over-year basis.

GameStop Price Performance

NYSE GME opened at $20.64 on Thursday. The company has a quick ratio of 1.42, a current ratio of 2.22 and a debt-to-equity ratio of 0.01. GameStop has a 12-month low of $9.95 and a 12-month high of $64.83. The company has a market capitalization of $7.25 billion, a PE ratio of 258.00 and a beta of -0.17. The firm’s 50 day moving average is $23.25 and its 200-day moving average is $20.16.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on GME. Wedbush cut their price target on shares of GameStop from $11.00 to $10.00 and set an “underperform” rating on the stock in a research note on Wednesday. StockNews.com raised shares of GameStop to a “sell” rating in a research note on Wednesday.

Insider Activity

In other GameStop news, Director Lawrence Cheng acquired 4,140 shares of the stock in a transaction dated Monday, July 8th. The shares were bought at an average cost of $24.85 per share, for a total transaction of $102,879.00. Following the completion of the acquisition, the director now directly owns 69,228 shares of the company’s stock, valued at $1,720,315.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 12.28% of the stock is owned by corporate insiders.

About GameStop

GameStop Corp., a specialty retailer, provides games and entertainment products through its stores and ecommerce platforms in the United States, Canada, Australia, and Europe. The company sells new and pre-owned gaming platforms; accessories, such as controllers, gaming headsets, and virtual reality products; new and pre-owned gaming software; and in-game digital currency, digital downloadable content, and full-game downloads.