GameStop (NYSE:GME) Announces Quarterly Earnings Results, Beats Estimates By $0.09 EPS

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

GameStop Stock Down 3.2 %

Shares of GameStop stock opened at $23.47 on Wednesday. The company’s fifty day simple moving average is $23.32 and its two-hundred day simple moving average is $20.16. GameStop has a 12-month low of $9.95 and a 12-month high of $64.83. The company has a current ratio of 2.22, a quick ratio of 1.42 and a debt-to-equity ratio of 0.01. The company has a market cap of $8.24 billion, a P/E ratio of 293.35 and a beta of -0.17.

Insider Activity

In related news, General Counsel Mark Haymond Robinson sold 2,215 shares of the stock in a transaction dated 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 of the company’s stock, valued at $1,274,582.64. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other GameStop news, General Counsel Mark Haymond Robinson sold 2,215 shares of the stock in a transaction on Thursday, June 13th. The stock was 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 owns 48,408 shares in the company, valued at $1,274,582.64. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Lawrence Cheng acquired 4,140 shares of the 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 transaction, the director now directly owns 69,228 shares of the company’s stock, valued at approximately $1,720,315.80. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 3,183 shares of company stock valued at $81,001. Corporate insiders own 12.28% of the company’s stock.

Wall Street Analysts Forecast Growth

GME has been the topic of several analyst reports. Wedbush decreased their target price on shares of GameStop from $13.50 to $11.00 and set an “underperform” rating on the stock in a research note on Wednesday, June 12th. StockNews.com raised shares of GameStop to a “sell” rating in a research note on Monday, August 26th.

GameStop Company Profile

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.