Stocks in GameStop Corp. (NYSE:GME) have been assigned an average recommendation of “Hold” by 12 analysts, according to Marketbeat Ratings. This includes six analysts recommending a hold, four that recommend selling the stock, and one saying that investors should buy. This is despite the fact that the retailer’s stock has been in steady decline for years, dropping about two-thirds in value in the past six months alone.
GameStop’s stock increased by $0.02 during the last trading session, reaching $5.38 with about 4.89M shares traded. The stock declined by declined 34.46% since July 2, 2018 and is down-trending.
The Reuter’s scale shows that GameStop’s consensus rating jumped to 3.10 from 3.09, indicating an overall improvement during a single month. Some analysts suggest that, based on these results, that the target price for GameStop should be $5.36 per share over the next 12 months.
The company announced its quarterly earnings results on June 4th, reporting $0.07 EPS for the quarter. This beat the Thomson Reuters consensus estimate of ($0.02) by $0.09. Reported revenues were at $1.55 billion for the quarter, falling short of estimates of $1.64 billion. The company’s debt-to-equity ratio is 0.79, with a quick ratio of 0.59, and a current ratio of 1.48. GameStop stock’s 50-day moving average price is $6.79.
Jefferies Financial Group lowered its Q2 2020 earnings per share estimates, expecting the company to earn ($0.14) per share for the quarter. Still, Jeffries Financial Group has a “Hold” rating on the stock with a $12.00 price objective. Estimates for GameStop’s earnings include $0.45 EPS in Q3 2020, $0.15 EPS in Q1 2021, ($0.13) EPS in Q2 2021, and $0.55 EPS in Q3 2021.
Meanwhile, institutional investors and hedge funds, which collectively own 98.68% of GameStop’s stock, have both bought and sold shares in the company recently.
Those that have increased their investment include Piedmont Investment Advisors Inc., which increased its shares of GameStop by 6.3% during the 1st quarter, bringing it up to 25,761 shares worth $262,000. United Services Automobile Association also increased its stake in shares of GameStop by 6.1% during the 4th quarter. It now owns 29,338 worth $370,000.
Meanwhile, Bank of Montreal Can increased its stake by 2.9% in the 4th quarter, bringing it up to 33,779 shares valued at $426,000. Thrivent Financial for Lutherans’ stake in shares went up by 2.2% during the 4th quarter and now has 73,319 shares worth $925,000. Lastly, Comerica Bank increased its stake in shares by 1.8% during the 4th quarter. It now owns 104,225 shares in GameStop worth an estimated $1,176,000.