GameStop (NYSE:GME) Issues Earnings Results, Beats Expectations By $0.09 EPS

GameStop (NYSE:GME) announced its quarterly earnings results on Tuesday. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.09, Zacks reports. GameStop had a return on equity of 1.79% and a net margin of 0.93%. The business had revenue of $860.30 million during the quarter, compared to the consensus estimate of $887.68 million. The company’s quarterly revenue was down 20.2% compared to the same quarter last year.

GameStop Stock Performance

GME opened at $26.95 on Wednesday. The stock has a fifty day moving average of $24.42 and a 200-day moving average of $23.99. The company has a market capitalization of $11.49 billion, a P/E ratio of 207.32 and a beta of -0.11. GameStop has a fifty-two week low of $9.95 and a fifty-two week high of $64.83.

Insider Activity at GameStop

In other news, General Counsel Mark Haymond Robinson sold 4,667 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $21.96, for a total transaction of $102,487.32. Following the completion of the sale, the general counsel now directly owns 54,927 shares in the company, valued at approximately $1,206,196.92. This represents a 7.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Daniel William Moore sold 2,624 shares of the stock in a transaction on Friday, October 11th. The stock was sold at an average price of $21.00, for a total value of $55,104.00. Following the sale, the insider now directly owns 32,280 shares in the company, valued at approximately $677,880. This trade represents a 7.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,639 shares of company stock worth $481,000. Corporate insiders own 12.28% of the company’s stock.

Analyst Ratings Changes

GME has been the subject of a number of research reports. StockNews.com upgraded shares of GameStop to a “sell” rating in a research note on Saturday, October 19th. Wedbush restated an “underperform” rating and set a $10.00 price objective on shares of GameStop in a research report on Friday, December 6th.

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.