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GameStop (GME) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, GameStop (GME - Free Report) closed at $20.52, marking a -0.68% move from the previous day. This move lagged the S&P 500's daily loss of 0.16%. Elsewhere, the Dow lost 0.26%, while the tech-heavy Nasdaq added 1.58%.
Prior to today's trading, shares of the video game retailer had lost 3.46% over the past month. This has lagged the Retail-Wholesale sector's loss of 2.03% and the S&P 500's gain of 0.84% 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 -$0.16 per share, which would represent year-over-year growth of 65.96%. Meanwhile, our latest consensus estimate is calling for revenue of $2.17 billion, down 3.82% from the prior-year quarter.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. GameStop is holding a Zacks Rank of #2 (Buy) right now.
The Retail - Consumer Electronics industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 191, putting it in the bottom 25% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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) Dips More Than Broader Markets: What You Should Know
In the latest trading session, GameStop (GME - Free Report) closed at $20.52, marking a -0.68% move from the previous day. This move lagged the S&P 500's daily loss of 0.16%. Elsewhere, the Dow lost 0.26%, while the tech-heavy Nasdaq added 1.58%.
Prior to today's trading, shares of the video game retailer had lost 3.46% over the past month. This has lagged the Retail-Wholesale sector's loss of 2.03% and the S&P 500's gain of 0.84% 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 -$0.16 per share, which would represent year-over-year growth of 65.96%. Meanwhile, our latest consensus estimate is calling for revenue of $2.17 billion, down 3.82% from the prior-year quarter.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. GameStop is holding a Zacks Rank of #2 (Buy) right now.
The Retail - Consumer Electronics industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 191, putting it in the bottom 25% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.