GameStop Corp. (NYSE:GME – Get Free Report)’s share price was down 4% during trading on Thursday after Wedbush lowered their price target on the stock from $6.00 to $5.60. Wedbush currently has an underperform rating on the stock. GameStop traded as low as $12.61 and last traded at $12.64. Approximately 3,937,563 shares changed hands during trading, an increase of 9% from the average daily volume of 3,617,850 shares. The stock had previously closed at $13.17.
Separately, StockNews.com raised GameStop from a “sell” rating to a “hold” rating in a research report on Wednesday.
View Our Latest Analysis on GameStop
Institutional Investors Weigh In On GameStop
GameStop Trading Down 4.6 %
The stock has a 50 day simple moving average of $14.30 and a 200-day simple moving average of $14.91. The firm has a market capitalization of $3.84 billion, a P/E ratio of 658.58 and a beta of -0.42. The company has a current ratio of 1.65, a quick ratio of 0.94 and a debt-to-equity ratio of 0.02.
GameStop (NYSE:GME – Get Free Report) last announced its quarterly earnings data on Tuesday, March 26th. The company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.07). The company had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $2.05 billion. GameStop had a net margin of 0.13% and a return on equity of 1.37%. The company’s revenue was down 19.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.16 earnings per share. On average, equities research analysts forecast that GameStop Corp. will post 0.04 EPS for the current fiscal year.
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.
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