GameStop (GME) Scheduled to Post Earnings on Wednesday

Posted by on Jun 5th, 2023

GameStop (NYSE:GME – Get Rating) will post its quarterly earnings results after the market closes on Wednesday, June 7th. Analysts expect GameStop to post earnings of ($0.17) per share for the quarter. Individual that wish to register for the company’s earnings conference call can do so using this link.

GameStop (NYSE:GME – Get Rating) last issued its earnings results on Tuesday, March 21st. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.29. The business had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.18 billion. GameStop had a negative net margin of 5.28% and a negative return on equity of 23.09%. The company’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period last year, the company posted ($0.47) earnings per share. On average, analysts expect GameStop to post $-1 EPS for the current fiscal year and $0 EPS for the next fiscal year.

GameStop Stock Performance

Shares of NYSE:GME opened at $24.64 on Monday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.23 and a current ratio of 1.74. The firm’s 50 day simple moving average is $21.78 and its 200-day simple moving average is $21.17. GameStop has a one year low of $15.41 and a one year high of $47.99. The firm has a market cap of $7.51 billion, a PE ratio of -23.92 and a beta of -0.29.

Insider Buying and Selling at GameStop

In related news, Director Lawrence Cheng acquired 5,000 shares of the stock in a transaction dated Wednesday, March 29th. The stock was acquired at an average cost of $22.80 per share, for a total transaction of $114,000.00. Following the completion of the purchase, the director now owns 37,088 shares of the company’s stock, valued at approximately $845,606.40. The purchase was disclosed in a document filed with the SEC, which is available through this link. 12.64% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Pathstone Family Office LLC purchased a new position in shares of GameStop during the third quarter worth $255,000. Bleakley Financial Group LLC purchased a new position in GameStop in the first quarter valued at $244,000. Royal Bank of Canada increased its holdings in GameStop by 900.1% in the third quarter. Royal Bank of Canada now owns 9,511 shares of the company’s stock valued at $239,000 after buying an additional 8,560 shares in the last quarter. Cambridge Investment Research Advisors Inc. purchased a new position in GameStop in the first quarter valued at $208,000. Finally, Deutsche Bank AG purchased a new position in GameStop in the fourth quarter valued at $206,000. Hedge funds and other institutional investors own 25.57% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of GameStop from a “hold” rating to a “sell” rating in a research note on Thursday.

GameStop Company Profile

(Get Rating)

GameStop Corp. offers games and entertainment products through its ecommerce properties and stores. It operates through the following geographic segments: United States, Canada, Australia, and Europe. Each segment consists primarily of retail operations, including stores and ecommerce properties focused on games, entertainment products, and technology.

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Earnings History for GameStop (NYSE:GME)

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