GameStop (NYSE:GME) Announces Quarterly Earnings Results, Beats Expectations By $0.21 EPS

GameStop (NYSE:GME) announced its quarterly earnings results on Tuesday. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.21, Zacks reports. GameStop had a net margin of 1.45% and a return on equity of 2.11%. The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same quarter last year, the firm earned $0.21 EPS. The company’s revenue was down 28.5% on a year-over-year basis.

GameStop Stock Down 0.9 %

NYSE:GME opened at $25.37 on Wednesday. The business’s 50-day simple moving average is $25.59 and its two-hundred day simple moving average is $25.67. The stock has a market cap of $11.34 billion, a PE ratio of 140.95 and a beta of -0.29. GameStop has a 52 week low of $9.95 and a 52 week high of $64.83.

Wall Street Analysts Forecast Growth

Separately, Wedbush reiterated an “underperform” rating and set a $10.00 target price on shares of GameStop in a report on Monday.

Insiders Place Their Bets

In other news, General Counsel Mark Haymond Robinson sold 1,577 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $31.07, for a total transaction of $48,997.39. Following the transaction, the general counsel now directly owns 42,350 shares of the company’s stock, valued at approximately $1,315,814.50. This trade represents a 3.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Daniel William Moore sold 895 shares of the company’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $31.07, for a total transaction of $27,807.65. Following the completion of the sale, the insider now directly owns 31,385 shares of the company’s stock, valued at approximately $975,131.95. This trade represents a 2.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 12.28% of the company’s stock.

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.