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

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

GameStop Stock Performance

Shares of NYSE GME opened at $28.38 on Thursday. GameStop has a fifty-two week low of $9.95 and a fifty-two week high of $64.83. The stock has a fifty day moving average of $25.59 and a 200-day moving average of $25.69. The stock has a market cap of $12.68 billion, a PE ratio of 157.68 and a beta of -0.29.

Insider Activity

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

Analysts Set New Price Targets

Separately, Wedbush reissued an “underperform” rating and set a $10.00 target price on shares of GameStop in a research report on Monday.

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.