GameStop (NYSE:GME) Receives Sell Rating from Benchmark

GameStop (NYSE:GME)‘s stock had its “sell” rating reaffirmed by analysts at Benchmark in a research note issued to investors on Wednesday, June 5th, Marketbeat Ratings reports. They presently have a $5.00 price objective on the stock, down from their prior price objective of $9.00. Benchmark’s target price suggests a potential downside of 8.59% from the stock’s current price.

Other equities research analysts have also issued reports about the company. Wedbush decreased their price objective on GameStop from $15.00 to $12.00 and set an “outperform” rating for the company in a research report on Wednesday, April 3rd. Loop Capital decreased their price objective on GameStop to $8.00 and set a “hold” rating for the company in a research report on Monday, June 3rd. They noted that the move was a valuation call. ValuEngine lowered GameStop from a “sell” rating to a “strong sell” rating in a research report on Monday, June 3rd. Bank of America decreased their price objective on GameStop from $9.00 to $5.00 and set an “underperform” rating for the company in a research report on Wednesday, April 3rd. Finally, Zacks Investment Research downgraded GameStop from a “buy” rating to a “hold” rating in a research note on Monday, February 25th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $9.20.

GME stock traded down $0.07 during trading hours on Wednesday, hitting $5.47. 3,893,425 shares of the stock traded hands, compared to its average volume of 4,680,858. The firm has a 50-day moving average of $6.79. GameStop has a one year low of $4.71 and a one year high of $17.27. The firm has a market capitalization of $559.41 million, a P/E ratio of 2.56 and a beta of 0.65. The company has a current ratio of 1.48, a quick ratio of 0.59 and a debt-to-equity ratio of 0.79.

GameStop (NYSE:GME) last announced its earnings results on Tuesday, June 4th. The company reported $0.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.09. GameStop had a positive return on equity of 14.55% and a negative net margin of 8.32%. The business had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.64 billion. During the same quarter last year, the business posted $0.38 earnings per share. The company’s quarterly revenue was down 13.3% on a year-over-year basis. On average, equities research analysts anticipate that GameStop will post 1.45 earnings per share for the current year.

Hedge funds have recently modified their holdings of the stock. Oregon Public Employees Retirement Fund bought a new position in shares of GameStop in the 4th quarter valued at approximately $39,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of GameStop in the 1st quarter valued at approximately $51,000. Investors Research Corp bought a new position in shares of GameStop in the 1st quarter valued at approximately $55,000. Everence Capital Management Inc. bought a new position in GameStop in the 1st quarter worth approximately $111,000. Finally, Magnus Financial Group LLC bought a new position in GameStop in the 1st quarter worth approximately $111,000. 98.68% of the stock is currently owned by institutional investors and hedge funds.

About GameStop

GameStop Corp. operates as a multichannel video game and consumer electronics retailer in the United States, Canada, Australia, and Europe. The company sells new and pre-owned video game hardware; video game software; pre-owned and value video games; video game accessories, including controllers, gaming headsets, virtual reality products, memory cards, and other add-ons for use with video game hardware and software; and digital products, such as downloadable content, network points cards, prepaid digital and prepaid subscription cards, and digitally downloadable software, as well as collectible products.

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Analyst Recommendations for GameStop (NYSE:GME)

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