GameStop (NYSE:GME) Issues Earnings Results, Misses Estimates By $0.07 EPS

GameStop (NYSE:GME) released its quarterly earnings results on Tuesday. The company reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.07), RTT News reports. The business had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $2.05 billion. GameStop had a return on equity of 1.37% and a net margin of 0.13%. The business’s revenue for the quarter was down 19.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.16 earnings per share.

GameStop Price Performance

GameStop stock opened at $13.17 on Thursday. The company has a current ratio of 1.65, a quick ratio of 0.94 and a debt-to-equity ratio of 0.02. The company has a fifty day simple moving average of $14.30 and a 200-day simple moving average of $14.91. The stock has a market cap of $4.02 billion, a P/E ratio of 658.58 and a beta of -0.42. GameStop has a 12-month low of $11.82 and a 12-month high of $27.65.

Hedge Funds Weigh In On GameStop

Several hedge funds have recently added to or reduced their stakes in the stock. Covestor Ltd grew its position in shares of GameStop by 323.2% in the 1st quarter. Covestor Ltd now owns 237 shares of the company’s stock valued at $39,000 after buying an additional 181 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of GameStop in the 1st quarter valued at about $50,000. Comerica Bank acquired a new stake in shares of GameStop in the 2nd quarter valued at about $150,000. Captrust Financial Advisors grew its stake in GameStop by 457.1% during the 1st quarter. Captrust Financial Advisors now owns 1,053 shares of the company’s stock worth $175,000 after buying an additional 864 shares during the last quarter. Finally, Neuberger Berman Group LLC acquired a new stake in shares of GameStop in the first quarter valued at approximately $288,000. 29.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on GME shares. StockNews.com raised GameStop from a “sell” rating to a “hold” rating in a research report on Wednesday. Wedbush reduced their price target on shares of GameStop from $6.00 to $5.60 and set an “underperform” rating on the stock in a research report on Wednesday.

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.