In the latest trading session, GameStop (GME) closed at $207.18, marking a -0.94% move from the previous day. This change lagged the S&P 500’s 0.39% gain on the day. Meanwhile, the Dow gained 0.15%, and the Nasdaq, a tech-heavy index, added 0.02%.
Prior to today’s trading, shares of the video game retailer had gained 12.43% over the past month. This has outpaced the Retail-Wholesale sector’s gain of 4.26% and the S&P 500’s gain of 4.82% in that time.
Investors will be hoping for strength from GME as it approaches its next earnings release. On that day, GME is projected to report earnings of -$0.22 per share, which would represent year-over-year growth of 58.49%. Our most recent consensus estimate is calling for quarterly revenue of $1.3 billion, up 29.69% from the year-ago period.
GME’s full-year Zacks Consensus Estimates are calling for earnings of -$0.27 per share and revenue of $5.77 billion. These results would represent year-over-year changes of +87.38% and +13.3%, respectively.
Investors might also notice recent changes to analyst estimates for GME. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company’s business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. GME is currently a Zacks Rank #3 (Hold).
The Retail – Consumer Electronics industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 31, which puts it in the top 13% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow GME in the coming trading sessions, be sure to utilize Zacks.com.
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GameStop Corp. (GME): Free Stock Analysis Report
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