GameStop (NYSE:GME) Issues Quarterly Earnings Results

GameStop (NYSE:GME) issued its earnings results on Tuesday. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.09, RTT News reports. GameStop had a net margin of 0.51% and a return on equity of 1.78%. The firm had revenue of $798.30 million during the quarter, compared to analyst estimates of $895.67 million. During the same quarter last year, the business earned ($0.03) earnings per share. The company’s quarterly revenue was down 31.4% on a year-over-year basis.

GameStop Stock Down 3.2 %

GME opened at $23.47 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.22 and a quick ratio of 1.42. GameStop has a one year low of $9.95 and a one year high of $64.83. The firm has a market capitalization of $8.24 billion, a P/E ratio of 293.35 and a beta of -0.17. The company has a fifty day moving average price of $23.32 and a 200-day moving average price of $20.16.

Insider Buying and Selling at GameStop

In related news, General Counsel Mark Haymond Robinson sold 2,215 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $26.33, for a total value of $58,320.95. Following the completion of the transaction, the general counsel now directly owns 48,408 shares in the company, valued at $1,274,582.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other GameStop news, Director Lawrence Cheng purchased 4,140 shares of the firm’s stock in a transaction on Monday, July 8th. The shares were purchased at an average cost of $24.85 per share, with a total value of $102,879.00. Following the completion of the purchase, the director now owns 69,228 shares of the company’s stock, valued at approximately $1,720,315.80. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Mark Haymond Robinson sold 2,215 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $26.33, for a total transaction of $58,320.95. Following the completion of the sale, the general counsel now directly owns 48,408 shares of the company’s stock, valued at approximately $1,274,582.64. The disclosure for this sale can be found here. Insiders have sold a total of 3,183 shares of company stock valued at $81,001 in the last 90 days. Corporate insiders own 12.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. StockNews.com upgraded GameStop to a “sell” rating in a research report on Monday, August 26th. Wedbush reduced their target price on GameStop from $13.50 to $11.00 and set an “underperform” rating for the company in a report on Wednesday, June 12th.

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.