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GameStop (GME) Stock Sinks As Market Gains: What You Should Know
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GameStop (GME - Free Report) closed at $21.83 in the latest trading session, marking a -0.18% move from the prior day. This change lagged the S&P 500's 1.05% gain on the day. Elsewhere, the Dow gained 0.02%, while the tech-heavy Nasdaq added 9.7%.
Heading into today, shares of the video game retailer had gained 27.15% over the past month, outpacing the Retail-Wholesale sector's gain of 11.69% and the S&P 500's gain of 6.27% in that time.
Wall Street will be looking for positivity from GameStop as it approaches its next earnings report date. In that report, analysts expect GameStop to post earnings of -$0.29 per share. This would mark year-over-year growth of 38.3%. Our most recent consensus estimate is calling for quarterly revenue of $2.17 billion, down 3.82% from the year-ago period.
It is also important to note the recent changes to analyst estimates for GameStop. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. The Zacks Consensus EPS estimate has moved 2.3% higher within the past month. GameStop currently has a Zacks Rank of #2 (Buy).
The Retail - Consumer Electronics industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 190, which puts it in the bottom 25% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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GameStop (GME) Stock Sinks As Market Gains: What You Should Know
GameStop (GME - Free Report) closed at $21.83 in the latest trading session, marking a -0.18% move from the prior day. This change lagged the S&P 500's 1.05% gain on the day. Elsewhere, the Dow gained 0.02%, while the tech-heavy Nasdaq added 9.7%.
Heading into today, shares of the video game retailer had gained 27.15% over the past month, outpacing the Retail-Wholesale sector's gain of 11.69% and the S&P 500's gain of 6.27% in that time.
Wall Street will be looking for positivity from GameStop as it approaches its next earnings report date. In that report, analysts expect GameStop to post earnings of -$0.29 per share. This would mark year-over-year growth of 38.3%. Our most recent consensus estimate is calling for quarterly revenue of $2.17 billion, down 3.82% from the year-ago period.
It is also important to note the recent changes to analyst estimates for GameStop. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. The Zacks Consensus EPS estimate has moved 2.3% higher within the past month. GameStop currently has a Zacks Rank of #2 (Buy).
The Retail - Consumer Electronics industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 190, which puts it in the bottom 25% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.