GameStop (NYSE:GME) Announces Earnings Results

GameStop (NYSE:GME) announced its quarterly earnings results on Tuesday. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.09 by $0.21, Zacks reports. The business had revenue of $1.28 billion for 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%. The company’s quarterly revenue was down 28.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.21 EPS.

GameStop Trading Down 0.9 %

NYSE:GME opened at $25.37 on Wednesday. The firm has a market cap of $11.34 billion, a price-to-earnings ratio of 140.95 and a beta of -0.29. GameStop has a 12-month low of $9.95 and a 12-month high of $64.83. The company’s 50-day moving average is $25.59 and its two-hundred day moving average is $25.67.

Insider Activity

In related news, insider Daniel William Moore sold 895 shares of the 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 transaction, the insider now directly owns 31,385 shares in the company, valued at approximately $975,131.95. This represents a 2.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Mark Haymond Robinson sold 1,577 shares of GameStop 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 completion of the sale, the general counsel now owns 42,350 shares of the company’s stock, valued at $1,315,814.50. This trade represents a 3.59 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 12.28% of the company’s stock.

Analyst Ratings Changes

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

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.