Bank of America Trims GameStop (NYSE:GME) Target Price to $2.50

GameStop (NYSE:GME) had its target price trimmed by Bank of America from $4.00 to $2.50 in a report published on Tuesday morning, The Fly reports. They currently have an underperform rating on the stock.

Several other equities research analysts have also commented on the company. Wedbush set a $9.00 target price on GameStop and gave the company a buy rating in a research report on Thursday, July 11th. Benchmark restated a sell rating and set a $5.00 target price (down previously from $9.00) on shares of GameStop in a research report on Wednesday, June 5th. Loop Capital set a $7.00 target price on GameStop and gave the company a hold rating in a research report on Monday, July 15th. ValuEngine upgraded GameStop from a sell rating to a hold rating in a research report on Sunday, June 9th. Finally, Ascendiant Capital Markets lowered GameStop from a buy rating to a hold rating and set a $4.00 target price on the stock. in a research report on Wednesday, June 5th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $8.95.

NYSE GME opened at $3.87 on Tuesday. The business’s 50-day moving average price is $4.15 and its two-hundred day moving average price is $7.80. GameStop has a 12 month low of $3.15 and a 12 month high of $17.21. The firm has a market capitalization of $349.76 million, a PE ratio of 1.53 and a beta of 0.38. The company has a current ratio of 1.48, a quick ratio of 0.59 and a debt-to-equity ratio of 0.79.

GameStop (NYSE:GME) last released its quarterly earnings results on Tuesday, June 4th. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.09. GameStop had a positive return on equity of 14.55% and a negative net margin of 8.32%. The firm had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.64 billion. During the same quarter in the previous year, the company posted $0.38 EPS. The business’s revenue was down 13.3% on a year-over-year basis. As a group, analysts forecast that GameStop will post 1.5 earnings per share for the current fiscal year.

A number of hedge funds have recently bought and sold shares of GME. Norges Bank bought a new stake in GameStop during the fourth quarter worth approximately $20,351,000. Nisa Investment Advisors LLC boosted its position in GameStop by 21.2% during the first quarter. Nisa Investment Advisors LLC now owns 74,750 shares of the company’s stock worth $759,000 after purchasing an additional 13,050 shares during the period. Investors Research Corp bought a new stake in GameStop during the first quarter worth approximately $55,000. James Investment Research Inc. bought a new stake in GameStop during the first quarter worth approximately $619,000. Finally, World Asset Management Inc bought a new stake in GameStop during the first quarter worth approximately $173,000. 98.68% of the stock is currently owned by institutional investors and hedge funds.

About GameStop

GameStop Corp. operates as a multichannel video game and consumer electronics retailer in the United States, Canada, Australia, and Europe. The company sells new and pre-owned video game hardware; video game software; pre-owned and value video games; video game accessories, including controllers, gaming headsets, virtual reality products, memory cards, and other add-ons for use with video game hardware and software; and digital products, such as downloadable content, network points cards, prepaid digital and prepaid subscription cards, and digitally downloadable software, as well as collectible products.

Read More: Bear Market – How and Why They Occur

The Fly

Analyst Recommendations for GameStop (NYSE:GME)

Receive News & Ratings for GameStop Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GameStop and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit