Shares of GameStop Corp. (NYSE:GME) hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $8.81 and last traded at $8.92, with a volume of 171404 shares changing hands. The stock had previously closed at $9.32.
GME has been the topic of several research analyst reports. Robert W. Baird boosted their price objective on shares of GameStop from $14.00 to $18.00 and gave the company an “outperform” rating in a report on Friday, January 18th. Wedbush set a $18.00 price objective on shares of GameStop and gave the company a “buy” rating in a report on Friday, January 18th. Jefferies Financial Group lowered shares of GameStop from a “buy” rating to a “hold” rating and boosted their price objective for the company from $11.50 to $13.00 in a report on Tuesday, January 29th. Telsey Advisory Group reduced their price objective on shares of GameStop from $14.00 to $11.00 and set a “market perform” rating on the stock in a report on Tuesday, January 29th. Finally, Credit Suisse Group lowered shares of GameStop from a “neutral” rating to an “underperform” rating and set a $11.00 price objective on the stock. in a report on Tuesday, January 29th. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. GameStop has a consensus rating of “Hold” and an average target price of $11.22.
The firm has a market cap of $953.16 million, a PE ratio of 4.18 and a beta of 0.65. The company has a current ratio of 1.43, a quick ratio of 0.86 and a debt-to-equity ratio of 0.35.
GameStop (NYSE:GME) last issued its quarterly earnings data on Tuesday, April 2nd. The company reported $1.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.59 by ($0.14). The company had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.28 billion. GameStop had a negative net margin of 7.71% and a positive return on equity of 14.49%. The firm’s quarterly revenue was down 7.6% on a year-over-year basis. During the same quarter last year, the firm posted $2.02 earnings per share. As a group, analysts forecast that GameStop Corp. will post 1.55 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 17.00%. The ex-dividend date was Thursday, March 14th. GameStop’s dividend payout ratio is currently 71.03%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GME. Norges Bank acquired a new position in GameStop in the 4th quarter valued at about $20,351,000. Tyvor Capital LLC acquired a new position in GameStop in the 4th quarter valued at about $11,286,000. Nantahala Capital Management LLC acquired a new position in GameStop in the 4th quarter valued at about $9,232,000. Squarepoint Ops LLC grew its position in GameStop by 710.0% in the 4th quarter. Squarepoint Ops LLC now owns 770,883 shares of the company’s stock valued at $9,729,000 after acquiring an additional 675,712 shares in the last quarter. Finally, FMR LLC grew its position in GameStop by 4.5% in the 4th quarter. FMR LLC now owns 15,201,886 shares of the company’s stock valued at $191,848,000 after acquiring an additional 657,020 shares in the last quarter. 98.74% of the stock is owned by institutional investors.
About GameStop (NYSE:GME)
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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