GameStop Q2 Profit Rises, Sales Misses View; Shares Down

GameStop Corp. has a 52-week low of $24.33 and a 52-week high of $47.62.

GameStop shares were down more than 7% in after hours trading. Shares price moving down from its 20 days moving average with -18.31% and isolated negatively from 50 days moving average with -18.62%. The stock has a market capitalization of $3.34 billion and a P/E ratio of 8.60.

Big Lots Inc. (NYSE:BIG) traded 3.3 Million shares on last trading day with closing price of $52.94. The EPS reflected an increase of 12.5% from $0.24 to $0.27 on YoY basis. The company earned $1.63 billion during the quarter, compared to analysts’ expectations of $1.73 billion.

Sales in the company’s gaming business have been on a downward spiral as video game publishers nudge consumers to buy games on their consoles directly instead of stores.

GameStop Corp. (NYSE:GME) last announced its quarterly earnings data on Thursday, August 25th. A lack of recent releases of big-name titles from either Activision Blizzard or Electronic Arts certainly played a role in GameStop’s struggle during the quarter, but there may be more to the story than that. Investors of record on Friday, September 9th will be paid a dividend of 0.37 per share on Thursday, September 22nd. This indicates annual dividend of $1.48, representing a 4.60% dividend yield.

A number of brokerages have recently commented on GME.

Technology brands revenues were up 55% to $175 million, accounting for just over 10% of GameStop’s revenues.

Also covering Gamestop’s target price, a total of 11 brokerages have released a research note on the stock.

Baird today set a target price of 40 on the company’s stock. TheStreet raised GameStop Corp. from a hold rating to a buy rating in a research report on Tuesday.

Pachter reiterated his outperform rating on GameStop with a 12-month price target of 36. Moreover, S&T Bank Pa has 2.57% invested in the company for 590,365 shares. The company has its Price to Sales (P/S) ratio of 2.04 where Price to Book (P/B) ratio of 0.81, Price to Cash Per share (P/C) of 3.31 and Price to Free Cash Flow (P/FCF) has a value of 0. Groesbeck Investment Management Corp Nj, a New Jersey-based fund reported 92,850 shares. Americafirst Capital Management LLC purchased a new position in GameStop Corp. during the second quarter worth $150,000.

GameStop Corp.is an omnichannel video game retailer. Similarly, while the company’s consumer electronics and mobile segment indicated solid strength, with a 43% sales increase to $203.3 million, video game accessories showed sales decline by 5% to $119.5 million. Each of the Video Game Brands segments consists of retail operations, with all stores engaged in the sale of new and pre-owned video game systems, software and accessories.