FY2028 Earnings Forecast for GameStop Issued By Wedbush

GameStop Corp. (NYSE:GME) – Investment analysts at Wedbush issued their FY2028 earnings per share estimates for shares of GameStop in a research report issued on Wednesday, March 26th. Wedbush analyst M. Pachter forecasts that the company will post earnings of $0.47 per share for the year. Wedbush has a “Underperform” rating and a $10.00 price target on the stock. The consensus estimate for GameStop’s current full-year earnings is $0.08 per share.

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

GameStop Price Performance

NYSE:GME opened at $21.77 on Thursday. The company has a market cap of $9.72 billion, a price-to-earnings ratio of 120.92 and a beta of -0.29. GameStop has a 1 year low of $9.95 and a 1 year high of $64.83. The stock’s 50 day simple moving average is $25.36 and its two-hundred day simple moving average is $25.64.

GameStop (NYSE:GME) last released its quarterly earnings data on Tuesday, March 25th. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.09 by $0.21. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.48 billion. GameStop had a net margin of 1.45% and a return on equity of 2.11%. The business’s revenue was down 28.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.21 EPS.

Institutional Investors Weigh In On GameStop

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of GameStop by 5.5% during the fourth quarter. Vanguard Group Inc. now owns 39,144,063 shares of the company’s stock valued at $1,226,775,000 after acquiring an additional 2,036,032 shares in the last quarter. State Street Corp increased its stake in shares of GameStop by 38.0% during the third quarter. State Street Corp now owns 11,143,759 shares of the company’s stock valued at $255,526,000 after buying an additional 3,070,571 shares during the period. Geode Capital Management LLC lifted its stake in GameStop by 6.1% in the fourth quarter. Geode Capital Management LLC now owns 6,659,234 shares of the company’s stock worth $208,769,000 after acquiring an additional 380,554 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in GameStop by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,610,264 shares of the company’s stock worth $113,146,000 after acquiring an additional 107,354 shares in the last quarter. Finally, Northern Trust Corp increased its position in GameStop by 26.2% during the 4th quarter. Northern Trust Corp now owns 3,171,303 shares of the company’s stock valued at $99,389,000 after purchasing an additional 659,345 shares during the period. Institutional investors own 29.21% of the company’s stock.

Insider Transactions at GameStop

In other GameStop news, insider Daniel William Moore sold 895 shares of the stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $31.07, for a total value of $27,807.65. Following the sale, the insider now owns 31,385 shares in the company, valued at $975,131.95. This trade represents a 2.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Mark Haymond Robinson sold 1,577 shares of GameStop stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $31.07, for a total value of $48,997.39. Following the sale, the general counsel now 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 disclosure for this sale can be found here. Company 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.