Gamestop Corporation (GME) Rating Lowered to Market Perform at Telsey Advisory Group

Telsey Advisory Group lowered shares of Gamestop Corporation (NYSE:GME) from an outperform rating to a market perform rating in a report released on Friday morning.

GME has been the topic of several other research reports. Mizuho restated a buy rating and issued a $27.00 price target on shares of Gamestop Corporation in a research note on Tuesday, April 18th. Vetr downgraded Gamestop Corporation from a strong-buy rating to a buy rating and set a $26.42 price target on the stock. in a research note on Wednesday, April 26th. Robert W. Baird restated an outperform rating and issued a $24.00 price target on shares of Gamestop Corporation in a research note on Sunday, May 28th. Credit Suisse Group set a $20.00 price target on Gamestop Corporation and gave the stock a hold rating in a research note on Sunday, May 28th. Finally, ValuEngine downgraded Gamestop Corporation from a buy rating to a hold rating in a research note on Friday, June 2nd. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have given a buy rating to the company. Gamestop Corporation presently has an average rating of Hold and a consensus target price of $24.84.

Shares of Gamestop Corporation (GME) traded down 3.48% during midday trading on Friday, reaching $21.09. The company’s stock had a trading volume of 1,576,099 shares. The stock has a 50-day moving average price of $21.39 and a 200-day moving average price of $22.94. Gamestop Corporation has a 52-week low of $20.10 and a 52-week high of $32.67. The stock has a market cap of $2.14 billion, a price-to-earnings ratio of 6.28 and a beta of 1.20.

Gamestop Corporation (NYSE:GME) last announced its earnings results on Thursday, May 25th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.12. Gamestop Corporation had a return on equity of 17.55% and a net margin of 3.99%. The firm had revenue of $2.05 billion during the quarter, compared to analyst estimates of $1.96 billion. During the same quarter in the prior year, the company earned $0.66 EPS. The business’s revenue was up 3.8% compared to the same quarter last year. Equities research analysts anticipate that Gamestop Corporation will post $3.32 earnings per share for the current fiscal year.

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Several institutional investors have recently added to or reduced their stakes in the company. Fairbanks Capital Management Inc. purchased a new position in Gamestop Corporation during the second quarter worth about $3,494,000. Westpac Banking Corp purchased a new position in Gamestop Corporation during the first quarter worth about $134,000. James Investment Research Inc. increased its position in Gamestop Corporation by 21.0% in the first quarter. James Investment Research Inc. now owns 4,630 shares of the company’s stock worth $104,000 after buying an additional 805 shares during the period. Camarda Financial Advisors LLC increased its position in Gamestop Corporation by 9.4% in the second quarter. Camarda Financial Advisors LLC now owns 5,179 shares of the company’s stock worth $112,000 after buying an additional 447 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Gamestop Corporation by 126.9% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,616 shares of the company’s stock worth $149,000 after buying an additional 3,700 shares during the period.

Gamestop Corporation Company Profile

GameStop Corp. is an omnichannel video game retailer. The Company sells video game hardware, physical and digital video game software, video game accessories, as well as mobile and consumer electronics products and other merchandise through its GameStop, EB Games and Micromania stores. It operates its business in five segments, which consists of four Video Game Brands segments: United States, Canada, Australia and Europe, and Technology Brands segment.

Analyst Recommendations for Gamestop Corporation (NYSE:GME)

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