GameStop Corp.’s (GME) “Neutral” Rating Reaffirmed at Credit Suisse Group AG

GameStop Corp. (NYSE:GME)‘s stock had its “neutral” rating restated by equities research analysts at Credit Suisse Group AG in a research report issued on Saturday. They currently have a $20.00 price objective on the stock, down from their previous price objective of $22.00. Credit Suisse Group AG’s price target indicates a potential downside of 13.76% from the stock’s current price.

Other research analysts also recently issued research reports about the company. Wedbush set a $30.00 target price on GameStop Corp. and gave the stock a “buy” rating in a research note on Saturday, November 26th. Bank of America Corp reissued a “buy” rating on shares of GameStop Corp. in a research note on Saturday, March 11th. Piper Jaffray Companies reissued a “neutral” rating and set a $23.00 target price on shares of GameStop Corp. in a research note on Wednesday, December 28th. Zacks Investment Research raised GameStop Corp. from a “sell” rating to a “hold” rating in a research note on Friday, March 24th. Finally, Telsey Advisory Group downgraded GameStop Corp. from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $28.00 to $27.00 in a research note on Monday, March 13th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $26.18.

Analyst Recommendations for GameStop Corp. (NYSE:GME)

GameStop Corp. (NYSE:GME) remained flat at $23.19 during midday trading on Friday. The stock had a trading volume of 1,766,850 shares. GameStop Corp. has a 52 week low of $20.10 and a 52 week high of $33.72. The stock has a market capitalization of $2.35 billion, a PE ratio of 6.82 and a beta of 1.18. The company’s 50-day moving average is $23.17 and its 200-day moving average is $24.31.

GameStop Corp. (NYSE:GME) last issued its earnings results on Thursday, March 23rd. The company reported $2.38 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.29 by $0.09. The firm earned $3.05 billion during the quarter, compared to the consensus estimate of $3.06 billion. GameStop Corp. had a return on equity of 18.74% and a net margin of 4.32%. The business’s quarterly revenue was down 13.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.40 earnings per share. Equities research analysts expect that GameStop Corp. will post $3.29 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 28th. Shareholders of record on Tuesday, March 14th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 6.55%. This is a boost from GameStop Corp.’s previous quarterly dividend of $0.37. The ex-dividend date was Friday, March 10th. GameStop Corp.’s dividend payout ratio is presently 39.47%.

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Institutional investors have recently bought and sold shares of the company. Premier Asset Managment LLC boosted its position in shares of GameStop Corp. by 2.7% in the third quarter. Premier Asset Managment LLC now owns 46,250 shares of the company’s stock worth $1,276,000 after buying an additional 1,200 shares in the last quarter. Reliance Trust Co. of Delaware purchased a new position in shares of GameStop Corp. during the third quarter worth about $284,000. Rothschild Investment Corp IL purchased a new position in shares of GameStop Corp. during the third quarter worth about $290,000. First Western Capital Management Co purchased a new position in shares of GameStop Corp. during the third quarter worth about $1,192,000. Finally, Coastline Trust Co boosted its position in shares of GameStop Corp. by 16.9% in the third quarter. Coastline Trust Co now owns 29,940 shares of the company’s stock worth $827,000 after buying an additional 4,320 shares in the last quarter.

About GameStop Corp.

GameStop Corp. is an omnichannel video game retailer. The Company sells video game hardware, physical and digital video game software, video game accessories, as well as mobile and consumer electronics products and other merchandise through its GameStop, EB Games and Micromania stores. The Company operates its business in four Video Game Brands segments: United States, Canada, Australia and Europe, and Technology Brands segment.

5 Day Chart for NYSE:GME

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