GameStop (NYSE:GME) Announces Quarterly Earnings Results

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

GameStop Stock Performance

Shares of GameStop stock opened at $13.17 on Thursday. GameStop has a one year low of $11.82 and a one year high of $27.65. The firm has a market capitalization of $4.02 billion, a price-to-earnings ratio of 658.58 and a beta of -0.42. The business has a 50-day simple moving average of $14.30 and a 200 day simple moving average of $14.91. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.65 and a quick ratio of 0.94.

Institutional Trading of GameStop

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GME. Cambridge Investment Research Advisors Inc. increased its position in GameStop by 23.7% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 2,295 shares of the company’s stock valued at $382,000 after buying an additional 439 shares in the last quarter. Citigroup Inc. grew its holdings in shares of GameStop by 4.3% in the first quarter. Citigroup Inc. now owns 18,826 shares of the company’s stock valued at $3,136,000 after acquiring an additional 777 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of GameStop by 21.8% in the first quarter. PNC Financial Services Group Inc. now owns 2,350 shares of the company’s stock valued at $390,000 after acquiring an additional 421 shares in the last quarter. Great West Life Assurance Co. Can grew its holdings in shares of GameStop by 5.8% in the first quarter. Great West Life Assurance Co. Can now owns 33,668 shares of the company’s stock valued at $5,759,000 after acquiring an additional 1,854 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of GameStop by 56.1% in the first quarter. Dimensional Fund Advisors LP now owns 12,655 shares of the company’s stock valued at $2,108,000 after acquiring an additional 4,548 shares in the last quarter. 29.21% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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