GameStop (NYSE:GME) Announces Earnings Results

GameStop (NYSE:GME) posted its quarterly earnings results on Tuesday. The company reported $0.22 EPS 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 the consensus estimate of $2.05 billion. GameStop had a net margin of 0.13% and a return on equity of 1.37%. GameStop’s revenue was down 19.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.16 earnings per share.

GameStop Price Performance

Shares of GameStop stock traded down $0.50 during trading on Thursday, reaching $12.67. 3,436,829 shares of the stock traded hands, compared to its average volume of 3,614,729. GameStop has a 52-week low of $11.82 and a 52-week high of $27.65. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.65 and a quick ratio of 0.94. The business has a fifty day simple moving average of $14.30 and a two-hundred day simple moving average of $14.91. The company has a market capitalization of $3.87 billion, a price-to-earnings ratio of 658.58 and a beta of -0.42.

Analyst Ratings Changes

GME has been the topic of a number of research analyst reports. StockNews.com raised GameStop from a “sell” rating to a “hold” rating in a report on Wednesday. Wedbush lowered their target price on shares of GameStop from $6.00 to $5.60 and set an “underperform” rating on the stock in a report on Wednesday.

Hedge Funds Weigh In On GameStop

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in GameStop by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 25,450,256 shares of the company’s stock valued at $446,143,000 after purchasing an additional 167,145 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of GameStop by 0.7% in the 1st quarter. BlackRock Inc. now owns 22,123,259 shares of the company’s stock valued at $509,277,000 after acquiring an additional 145,855 shares during the last quarter. State Street Corp grew its position in GameStop by 4.3% in the first quarter. State Street Corp now owns 7,565,856 shares of the company’s stock worth $174,165,000 after acquiring an additional 311,487 shares in the last quarter. Geode Capital Management LLC increased its stake in GameStop by 3.5% during the first quarter. Geode Capital Management LLC now owns 3,617,565 shares of the company’s stock worth $83,276,000 after acquiring an additional 121,916 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in GameStop by 5.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,954,302 shares of the company’s stock valued at $36,076,000 after purchasing an additional 104,157 shares during the period. 29.21% of the stock is owned by institutional investors.

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.