GameStop (NYSE:GME) Announces Quarterly Earnings Results

GameStop (NYSE:GME) issued its quarterly earnings data on Tuesday. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.21, Zacks reports. GameStop had a return on equity of 2.11% and a net margin of 1.45%. The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same quarter last year, the company posted $0.21 earnings per share. The business’s quarterly revenue was down 28.5% compared to the same quarter last year.

GameStop Trading Down 0.9 %

GME stock traded down $0.24 on Tuesday, hitting $25.37. The company’s stock had a trading volume of 7,382,519 shares, compared to its average volume of 5,614,573. The stock has a market cap of $11.34 billion, a price-to-earnings ratio of 140.95 and a beta of -0.29. The firm has a 50 day moving average of $25.63 and a two-hundred day moving average of $25.66. GameStop has a 1 year low of $9.95 and a 1 year high of $64.83.

Analyst Upgrades and Downgrades

Separately, Wedbush restated an “underperform” rating and set a $10.00 price target on shares of GameStop in a research note on Monday.

Insiders Place Their Bets

In other GameStop news, General Counsel Mark Haymond Robinson sold 1,577 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $31.07, for a total transaction of $48,997.39. Following the completion of the sale, the general counsel now directly owns 42,350 shares of the company’s stock, valued at $1,315,814.50. This represents a 3.59 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Daniel William Moore sold 895 shares of GameStop stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $31.07, for a total value of $27,807.65. Following the completion of the transaction, the insider now owns 31,385 shares in the company, valued at $975,131.95. This trade represents a 2.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.28% of the stock is currently owned by insiders.

GameStop Company Profile

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.