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GameStop (GME) Stock Moves -1.99%: What You Should Know
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GameStop (GME - Free Report) closed the most recent trading day at $20.65, moving -1.99% from the previous trading session. This move was narrower than the S&P 500's daily loss of 3%. Elsewhere, the Dow saw a downswing of 2.6%, while the tech-heavy Nasdaq depreciated by 3.43%.
Heading into today, shares of the video game retailer had lost 12.86% over the past month, lagging the Consumer Discretionary sector's loss of 2.92% and the S&P 500's loss of 2.92% in that time.
Analysts and investors alike will be keeping a close eye on the performance of GameStop in its upcoming earnings disclosure. The company is expected to report EPS of -$0.01, up 66.67% from the prior-year quarter. At the same time, our most recent consensus estimate is projecting a revenue of $900 million, reflecting a 22.67% fall from the equivalent quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0.08 per share and revenue of $4.13 billion, indicating changes of +33.33% and -21.64%, respectively, compared to the previous year.
It is also important to note the recent changes to analyst estimates for GameStop. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. GameStop currently has a Zacks Rank of #3 (Hold).
Looking at valuation, GameStop is presently trading at a Forward P/E ratio of 263.38. Its industry sports an average Forward P/E of 18.13, so one might conclude that GameStop is trading at a premium comparatively.
The Gaming industry is part of the Consumer Discretionary sector. This industry, currently bearing a Zacks Industry Rank of 83, finds itself in the top 33% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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GameStop (GME) Stock Moves -1.99%: What You Should Know
GameStop (GME - Free Report) closed the most recent trading day at $20.65, moving -1.99% from the previous trading session. This move was narrower than the S&P 500's daily loss of 3%. Elsewhere, the Dow saw a downswing of 2.6%, while the tech-heavy Nasdaq depreciated by 3.43%.
Heading into today, shares of the video game retailer had lost 12.86% over the past month, lagging the Consumer Discretionary sector's loss of 2.92% and the S&P 500's loss of 2.92% in that time.
Analysts and investors alike will be keeping a close eye on the performance of GameStop in its upcoming earnings disclosure. The company is expected to report EPS of -$0.01, up 66.67% from the prior-year quarter. At the same time, our most recent consensus estimate is projecting a revenue of $900 million, reflecting a 22.67% fall from the equivalent quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0.08 per share and revenue of $4.13 billion, indicating changes of +33.33% and -21.64%, respectively, compared to the previous year.
It is also important to note the recent changes to analyst estimates for GameStop. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. GameStop currently has a Zacks Rank of #3 (Hold).
Looking at valuation, GameStop is presently trading at a Forward P/E ratio of 263.38. Its industry sports an average Forward P/E of 18.13, so one might conclude that GameStop is trading at a premium comparatively.
The Gaming industry is part of the Consumer Discretionary sector. This industry, currently bearing a Zacks Industry Rank of 83, finds itself in the top 33% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.