Zacks: Brokerages Expect GameStop Corp. (GME) to Announce $0.55 EPS

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Brokerages predict that GameStop Corp. (NYSE:GME) will announce $0.55 earnings per share for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for GameStop’s earnings. The highest EPS estimate is $0.58 and the lowest is $0.50. GameStop reported earnings of $0.54 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 1.9%. The firm is scheduled to report its next earnings results on Tuesday, November 20th.

According to Zacks, analysts expect that GameStop will report full-year earnings of $3.05 per share for the current fiscal year, with EPS estimates ranging from $3.01 to $3.08. For the next fiscal year, analysts anticipate that the firm will post earnings of $2.67 per share, with EPS estimates ranging from $2.09 to $2.99. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that that provide coverage for GameStop.

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

A number of equities research analysts recently weighed in on the stock. Bank of America set a $10.00 price objective on shares of GameStop and gave the company a “sell” rating in a research note on Wednesday. Zacks Investment Research upgraded shares of GameStop from a “sell” rating to a “hold” rating in a research note on Monday, September 10th. Loop Capital reiterated a “hold” rating and issued a $16.00 price target on shares of GameStop in a research report on Monday, September 10th. Credit Suisse Group set a $15.00 price target on shares of GameStop and gave the stock a “hold” rating in a research report on Friday, September 7th. Finally, Wedbush set a $19.00 price target on shares of GameStop and gave the stock a “buy” rating in a research report on Friday, September 7th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $16.33.

Shares of NYSE GME traded down $0.14 during midday trading on Friday, reaching $14.68. 2,323,675 shares of the company traded hands, compared to its average volume of 4,315,651. GameStop has a 52 week low of $12.20 and a 52 week high of $20.55. The company has a quick ratio of 0.48, a current ratio of 1.45 and a debt-to-equity ratio of 0.39. The stock has a market cap of $1.56 billion, a P/E ratio of 4.40 and a beta of 1.28.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 2nd. Shareholders of record on Tuesday, September 18th were given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 10.35%. The ex-dividend date was Monday, September 17th. GameStop’s dividend payout ratio (DPR) is presently 45.51%.

Institutional investors have recently modified their holdings of the business. Principal Financial Group Inc. raised its position in GameStop by 1.8% in the first quarter. Principal Financial Group Inc. now owns 443,813 shares of the company’s stock worth $5,601,000 after acquiring an additional 7,986 shares in the last quarter. Comerica Bank raised its position in GameStop by 35.1% in the second quarter. Comerica Bank now owns 111,504 shares of the company’s stock worth $1,626,000 after acquiring an additional 28,957 shares in the last quarter. Royal Bank of Canada raised its position in GameStop by 151.5% in the first quarter. Royal Bank of Canada now owns 267,505 shares of the company’s stock worth $3,375,000 after acquiring an additional 161,145 shares in the last quarter. Eqis Capital Management Inc. raised its position in GameStop by 20.0% in the second quarter. Eqis Capital Management Inc. now owns 35,097 shares of the company’s stock worth $511,000 after acquiring an additional 5,844 shares in the last quarter. Finally, OppenheimerFunds Inc. raised its holdings in GameStop by 27.8% during the 2nd quarter. OppenheimerFunds Inc. now owns 1,325,627 shares of the company’s stock worth $19,314,000 after buying an additional 288,549 shares during the period.

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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