GameStop (NYSE:GME) Releases Quarterly Earnings Results, Beats Expectations By $0.09 EPS

GameStop (NYSE:GME) issued its quarterly earnings data on Tuesday. The company reported $0.06 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.09, Zacks reports. GameStop had a net margin of 0.93% and a return on equity of 1.79%. The business had revenue of $860.30 million during the quarter, compared to analyst estimates of $887.68 million. GameStop’s revenue for the quarter was down 20.2% compared to the same quarter last year.

GameStop Price Performance

GameStop stock traded down $1.00 during midday trading on Tuesday, reaching $26.93. 11,467,425 shares of the company traded hands, compared to its average volume of 19,096,080. The business has a 50 day moving average of $24.42 and a two-hundred day moving average of $23.99. The firm has a market capitalization of $11.49 billion, a price-to-earnings ratio of 207.17 and a beta of -0.11. GameStop has a 12 month low of $9.95 and a 12 month high of $64.83.

Insider Transactions at GameStop

In related news, General Counsel Mark Haymond Robinson sold 11,000 shares of the firm’s stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $20.82, for a total value of $229,020.00. Following the transaction, the general counsel now directly owns 43,927 shares of the company’s stock, valued at approximately $914,560.14. This trade represents a 20.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Daniel William Moore sold 2,624 shares of the business’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $21.00, for a total value of $55,104.00. Following the sale, the insider now directly owns 32,280 shares of the company’s stock, valued at $677,880. This represents a 7.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,639 shares of company stock worth $481,000 in the last ninety days. Insiders own 12.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Wedbush reissued an “underperform” rating and issued a $10.00 price target on shares of GameStop in a research report on Friday. StockNews.com upgraded shares of GameStop to a “sell” rating in a research note on Saturday, October 19th.

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.