GameStop (NYSE:GME) Releases Earnings Results, Misses Expectations By $0.07 EPS

GameStop (NYSE:GME) issued 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 business had revenue of $1.79 billion during 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 business’s quarterly revenue was down 19.4% on a year-over-year basis. During the same period last year, the business earned $0.16 EPS.

GameStop Trading Down 15.1 %

Shares of GME opened at $13.17 on Thursday. The company has a current ratio of 1.65, a quick ratio of 0.94 and a debt-to-equity ratio of 0.02. The stock has a 50 day simple moving average of $14.30 and a 200-day simple moving average of $14.91. GameStop has a 1 year low of $11.82 and a 1 year high of $27.65. The stock has a market cap of $4.02 billion, a PE ratio of 658.58 and a beta of -0.42.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on GME. StockNews.com upgraded shares of GameStop from a “sell” rating to a “hold” rating in a research report on Wednesday. Wedbush cut their price target on shares of GameStop from $6.00 to $5.60 and set an “underperform” rating on the stock in a report on Wednesday.

Hedge Funds Weigh In On GameStop

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in GameStop by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 25,450,256 shares of the company’s stock valued at $446,143,000 after purchasing an additional 167,145 shares during the period. BlackRock Inc. grew its holdings in shares of GameStop by 0.7% in the 1st quarter. BlackRock Inc. now owns 22,123,259 shares of the company’s stock valued at $509,277,000 after buying an additional 145,855 shares during the period. State Street Corp increased its position in shares of GameStop by 4.3% in the 1st quarter. State Street Corp now owns 7,565,856 shares of the company’s stock valued at $174,165,000 after buying an additional 311,487 shares in the last quarter. Geode Capital Management LLC raised its stake in GameStop by 3.5% during the 1st quarter. Geode Capital Management LLC now owns 3,617,565 shares of the company’s stock worth $83,276,000 after buying an additional 121,916 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in GameStop by 5.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,954,302 shares of the company’s stock valued at $36,076,000 after acquiring an additional 104,157 shares during the period. 29.21% of the stock is owned by institutional investors.

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.