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GameStop (GME) Stock Moves -1.46%: What You Should Know
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GameStop (GME - Free Report) closed at $122.47 in the latest trading session, marking a -1.46% move from the prior day. This change was narrower than the S&P 500's daily loss of 1.81%. At the same time, the Dow lost 1.47%, and the tech-heavy Nasdaq lost 0.51%.
Prior to today's trading, shares of the video game retailer had lost 2.94% over the past month. This has lagged the Retail-Wholesale sector's loss of 2.51% and the S&P 500's loss of 1.84% in that time.
Wall Street will be looking for positivity from GameStop as it approaches its next earnings report date. On that day, GameStop is projected to report earnings of $0.77 per share, which would represent a year-over-year decline of 42.54%. Meanwhile, our latest consensus estimate is calling for revenue of $2.19 billion, up 3.15% from the prior-year quarter.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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.
Digging into valuation, GameStop currently has a Forward P/E ratio of 8286.01. This valuation marks a premium compared to its industry's average Forward P/E of 10.71.
The Retail - Consumer Electronics industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 248, which puts it in the bottom 3% 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.
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 (GME) Stock Moves -1.46%: What You Should Know
GameStop (GME - Free Report) closed at $122.47 in the latest trading session, marking a -1.46% move from the prior day. This change was narrower than the S&P 500's daily loss of 1.81%. At the same time, the Dow lost 1.47%, and the tech-heavy Nasdaq lost 0.51%.
Prior to today's trading, shares of the video game retailer had lost 2.94% over the past month. This has lagged the Retail-Wholesale sector's loss of 2.51% and the S&P 500's loss of 1.84% in that time.
Wall Street will be looking for positivity from GameStop as it approaches its next earnings report date. On that day, GameStop is projected to report earnings of $0.77 per share, which would represent a year-over-year decline of 42.54%. Meanwhile, our latest consensus estimate is calling for revenue of $2.19 billion, up 3.15% from the prior-year quarter.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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.
Digging into valuation, GameStop currently has a Forward P/E ratio of 8286.01. This valuation marks a premium compared to its industry's average Forward P/E of 10.71.
The Retail - Consumer Electronics industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 248, which puts it in the bottom 3% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.