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GameStop (GME) Gains As Market Dips: What You Should Know
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GameStop (GME - Free Report) closed at $19.23 in the latest trading session, marking a +0.68% move from the prior day. This move outpaced the S&P 500's daily loss of 0.3%. Elsewhere, the Dow lost 0.71%, while the tech-heavy Nasdaq added 0.84%.
Coming into today, shares of the video game retailer had lost 10.12% in the past month. In that same time, the Retail-Wholesale sector lost 6.57%, while the S&P 500 lost 2%.
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%. 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 recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 remained stagnant within the past month. GameStop is currently sporting a Zacks Rank of #2 (Buy).
The Retail - Consumer Electronics industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 109, putting it in the top 44% 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.
To follow GME in the coming trading sessions, be sure to utilize Zacks.com.
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GameStop (GME) Gains As Market Dips: What You Should Know
GameStop (GME - Free Report) closed at $19.23 in the latest trading session, marking a +0.68% move from the prior day. This move outpaced the S&P 500's daily loss of 0.3%. Elsewhere, the Dow lost 0.71%, while the tech-heavy Nasdaq added 0.84%.
Coming into today, shares of the video game retailer had lost 10.12% in the past month. In that same time, the Retail-Wholesale sector lost 6.57%, while the S&P 500 lost 2%.
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%. 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 recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 remained stagnant within the past month. GameStop is currently sporting a Zacks Rank of #2 (Buy).
The Retail - Consumer Electronics industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 109, putting it in the top 44% 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.
To follow GME in the coming trading sessions, be sure to utilize Zacks.com.