GameStop (NYSE:GME) Releases Quarterly Earnings Results, Beats Expectations By $0.21 EPS

GameStop (NYSE:GME) announced its earnings results on Tuesday. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.21, Zacks reports. The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.48 billion. GameStop had a return on equity of 2.11% and a net margin of 1.45%. GameStop’s revenue for the quarter was down 28.5% compared to the same quarter last year. During the same period last year, the company earned $0.21 EPS.

GameStop Price Performance

Shares of GameStop stock opened at $28.38 on Thursday. The firm has a market cap of $12.68 billion, a price-to-earnings ratio of 157.68 and a beta of -0.29. The stock’s 50-day moving average is $25.59 and its 200 day moving average is $25.69. GameStop has a one year low of $9.95 and a one year high of $64.83.

Wall Street Analysts Forecast Growth

Separately, Wedbush reaffirmed an “underperform” rating and issued a $10.00 price objective on shares of GameStop in a research note on Monday.

Insider Buying and Selling at GameStop

In other GameStop news, General Counsel Mark Haymond Robinson sold 1,577 shares of the firm’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $31.07, for a total value of $48,997.39. Following the completion of the sale, the general counsel now directly owns 42,350 shares in the company, valued at approximately $1,315,814.50. This trade represents a 3.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Daniel William Moore sold 895 shares of the company’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $31.07, for a total transaction of $27,807.65. Following the transaction, the insider now owns 31,385 shares in the company, valued at $975,131.95. This represents a 2.77 % decrease in their position. The disclosure for this sale can be found here. Insiders own 12.28% of the company’s stock.

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.