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GameStop (GME) Stock Moves -1.2%: What You Should Know
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GameStop (GME - Free Report) closed at $23.14 in the latest trading session, marking a -1.2% move from the prior day. The stock's performance was ahead of the S&P 500's daily loss of 2.12%. Elsewhere, the Dow lost 1.51%, while the tech-heavy Nasdaq lost 3.26%.
Shares of the video game retailer have appreciated by 13.41% over the course of the past month, outperforming the Consumer Discretionary sector's gain of 7.22% and the S&P 500's gain of 5.78%.
Market participants will be closely following the financial results of GameStop in its upcoming release. The company plans to announce its earnings on September 10, 2024. The company's upcoming EPS is projected at -$0.01, signifying a 66.67% increase compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $900 million, down 22.67% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $0.08 per share and revenue of $4.13 billion, which would represent changes of +33.33% and -21.64%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for GameStop. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. GameStop is currently a Zacks Rank #3 (Hold).
With respect to valuation, GameStop is currently being traded at a Forward P/E ratio of 292.75. This expresses a premium compared to the average Forward P/E of 19.62 of its industry.
The Gaming industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 152, which puts it in the bottom 40% 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 -1.2%: What You Should Know
GameStop (GME - Free Report) closed at $23.14 in the latest trading session, marking a -1.2% move from the prior day. The stock's performance was ahead of the S&P 500's daily loss of 2.12%. Elsewhere, the Dow lost 1.51%, while the tech-heavy Nasdaq lost 3.26%.
Shares of the video game retailer have appreciated by 13.41% over the course of the past month, outperforming the Consumer Discretionary sector's gain of 7.22% and the S&P 500's gain of 5.78%.
Market participants will be closely following the financial results of GameStop in its upcoming release. The company plans to announce its earnings on September 10, 2024. The company's upcoming EPS is projected at -$0.01, signifying a 66.67% increase compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $900 million, down 22.67% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $0.08 per share and revenue of $4.13 billion, which would represent changes of +33.33% and -21.64%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for GameStop. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. GameStop is currently a Zacks Rank #3 (Hold).
With respect to valuation, GameStop is currently being traded at a Forward P/E ratio of 292.75. This expresses a premium compared to the average Forward P/E of 19.62 of its industry.
The Gaming industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 152, which puts it in the bottom 40% 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.