Yahoo Finance GameStop (GME) Gains But Lags Market: What You Should Know
GameStop (GME) closed at $24.10 in the latest trading session, marking a +0.21% move from the prior day. This change lagged the S&P 500's 0.99% gain on the day.
Heading into today, shares of the video game retailer had gained 27.25% over the past month, outpacing the Retail-Wholesale sector's loss of 0.04% and the S&P 500's gain of 0.42% in that time.
Investors will be hoping for strength from GameStop as it approaches its next earnings release, which is expected to be June 7, 2023. In that report, analysts expect GameStop to post earnings of -$0.17 per share. This would mark year-over-year growth of 67.31%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.34 billion, down 2.68% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.51 per share and revenue of $5.8 billion. These totals would mark changes of +50% and -2.19%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for GameStop. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Within the past 30 days, our consensus EPS projection remained stagnant. GameStop is holding a Zacks Rank of #3 (Hold) right now.
The Retail - Consumer Electronics industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 236, putting it in the bottom 7% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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GameStop Corp. (GME) : Free Stock Analysis Report
