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Before everybody goes nuts over here and calls me an overzealous wannabe that must have just watched “Dumb Money” I want to hammer home the fact that this has nothing to do with Roaring Kitty. Really, it’s just based on facts and actions taken by analysts on Wall Street that Zacks happens to aggregate. All-in-all, it’s a great way to highlight the Zacks Rank by pointing out the action in today’s Bull of the Day, GameStop ((GME - Free Report) ).
GameStop Corp., a specialty retailer, provides games and entertainment products through its stores and ecommerce platforms in the United States, Canada, Australia, and Europe. The company sells new and pre-owned gaming platforms; accessories, such as controllers, gaming headsets, and virtual reality products; new and pre-owned gaming software; and in-game digital currency, digital downloadable content, and full-game downloads. It also sells collectibles comprising apparel, toys, trading cards, gadgets, and other retail products for pop culture and technology enthusiasts, as well as engages in the digital asset wallet and NFT marketplace activities.
The stock is currently a Zacks Rank #1 (Strong Buy) in the Retail – Consumer Electronics industry which ranks in the Top 5% of our Zacks Industry Rank. The reason for the strong rank is that two analysts have come out over the last week and increased their earnings estimates for both the current year and next year. The bullish move has catapulted the current year Zacks Consensus Estimate from a 17-cent loss to just a 2-cent loss. That now represents growth of 98% over last year. Next year’s number is up from a 20-cent loss to just a 5-cent loss.
Image Source: Zacks Investment Research
A quick look at the Price, Consensus and EPS Surprise Chart on GameStop shows that estimates and the stock’s price has been moving in opposite directions. Since the end of 2022, estimates have trended in a singular direction, up. At the same time, the stock has come down from near $30 to the $15 level it sits at today. That sort of divergence between earnings and price will not last forever. Either earnings will come down or the stock’s price will come up. For now, this divergence, coupled with four consecutive quarterly earnings beats are reason enough to name GameStop today’s Bull of the Day.
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Bull of the Day: GameStop (GME)
Before everybody goes nuts over here and calls me an overzealous wannabe that must have just watched “Dumb Money” I want to hammer home the fact that this has nothing to do with Roaring Kitty. Really, it’s just based on facts and actions taken by analysts on Wall Street that Zacks happens to aggregate. All-in-all, it’s a great way to highlight the Zacks Rank by pointing out the action in today’s Bull of the Day, GameStop ((GME - Free Report) ).
GameStop Corp., a specialty retailer, provides games and entertainment products through its stores and ecommerce platforms in the United States, Canada, Australia, and Europe. The company sells new and pre-owned gaming platforms; accessories, such as controllers, gaming headsets, and virtual reality products; new and pre-owned gaming software; and in-game digital currency, digital downloadable content, and full-game downloads. It also sells collectibles comprising apparel, toys, trading cards, gadgets, and other retail products for pop culture and technology enthusiasts, as well as engages in the digital asset wallet and NFT marketplace activities.
The stock is currently a Zacks Rank #1 (Strong Buy) in the Retail – Consumer Electronics industry which ranks in the Top 5% of our Zacks Industry Rank. The reason for the strong rank is that two analysts have come out over the last week and increased their earnings estimates for both the current year and next year. The bullish move has catapulted the current year Zacks Consensus Estimate from a 17-cent loss to just a 2-cent loss. That now represents growth of 98% over last year. Next year’s number is up from a 20-cent loss to just a 5-cent loss.
Image Source: Zacks Investment Research
A quick look at the Price, Consensus and EPS Surprise Chart on GameStop shows that estimates and the stock’s price has been moving in opposite directions. Since the end of 2022, estimates have trended in a singular direction, up. At the same time, the stock has come down from near $30 to the $15 level it sits at today. That sort of divergence between earnings and price will not last forever. Either earnings will come down or the stock’s price will come up. For now, this divergence, coupled with four consecutive quarterly earnings beats are reason enough to name GameStop today’s Bull of the Day.