GameStop Corp. to Post Q2 2020 Earnings of ($0.14) Per Share, Jefferies Financial Group Forecasts (NYSE:GME)

GameStop Corp. (NYSE:GME) – Stock analysts at Jefferies Financial Group lowered their Q2 2020 EPS estimates for shares of GameStop in a report issued on Tuesday, June 4th, Zacks Investment Research reports. Jefferies Financial Group analyst S. Wissink now forecasts that the company will post earnings per share of ($0.14) for the quarter, down from their prior estimate of ($0.11). Jefferies Financial Group currently has a “Hold” rating and a $12.00 target price on the stock. Jefferies Financial Group also issued estimates for GameStop’s Q3 2020 earnings at $0.45 EPS, Q1 2021 earnings at $0.15 EPS, Q2 2021 earnings at ($0.13) EPS and Q3 2021 earnings at $0.55 EPS.

GME has been the topic of several other research reports. Credit Suisse Group cut their target price on GameStop from $11.00 to $10.00 and set an “underperform” rating on the stock in a research report on Wednesday, April 3rd. Telsey Advisory Group cut their target price on GameStop from $11.00 to $10.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 3rd. Zacks Investment Research downgraded GameStop from a “hold” rating to a “sell” rating in a research report on Tuesday, March 12th. Wedbush reissued an “outperform” rating and set a $9.00 target price (down previously from $12.00) on shares of GameStop in a research report on Wednesday, June 5th. Finally, Bank of America downgraded GameStop from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $12.00 to $9.00 in a research report on Friday, March 8th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $9.20.

Shares of NYSE GME traded down $0.07 during trading hours on Friday, hitting $5.47. 3,896,355 shares of the company traded hands, compared to its average volume of 8,519,552. The company has a market capitalization of $566.57 million, a PE ratio of 2.56 and a beta of 0.65. The company has a quick ratio of 0.59, a current ratio of 1.48 and a debt-to-equity ratio of 0.79. The firm’s 50 day moving average is $6.79. GameStop has a 12 month low of $4.71 and a 12 month high of $17.27.

GameStop (NYSE:GME) last issued its quarterly earnings data on Tuesday, June 4th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.09. The business had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.64 billion. GameStop had a positive return on equity of 14.55% and a negative net margin of 8.32%. The company’s revenue for the quarter was down 13.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.38 EPS.

Several hedge funds and other institutional investors have recently modified their holdings of GME. Oregon Public Employees Retirement Fund purchased a new stake in shares of GameStop during the 4th quarter worth $39,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of GameStop during the 1st quarter worth $51,000. Investors Research Corp purchased a new stake in shares of GameStop during the 1st quarter worth $55,000. Everence Capital Management Inc. purchased a new stake in shares of GameStop during the 1st quarter worth $111,000. Finally, Magnus Financial Group LLC purchased a new stake in shares of GameStop during the 1st quarter worth $111,000. Hedge funds and other institutional investors own 98.68% of the company’s stock.

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.

Featured Story: How is an ETF different from a mutual fund?

Get a free copy of the Zacks research report on GameStop (GME)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for GameStop (NYSE:GME)

Receive News & Ratings for GameStop Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GameStop and related companies with MarketBeat.com's FREE daily email newsletter.