In the latest trading session, GameStop (GME - Free Report) closed at $4.13, marking a +1.72% move from the previous day. This move outpaced the S&P 500's daily gain of 0.38%. Elsewhere, the Dow gained 0.36%, while the tech-heavy Nasdaq added 0.66%.
GME will be looking to display strength as it nears its next earnings release, which is expected to be June 9, 2020. The company is expected to report EPS of -$0.73, down 1142.86% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.05 billion, down 32.04% from the year-ago period.
GME's full-year Zacks Consensus Estimates are calling for earnings of -$0.67 per share and revenue of $5.81 billion. These results would represent year-over-year changes of -404.55% and -10.1%, respectively.
Investors should also note any recent changes to analyst estimates for GME. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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. GME is holding a Zacks Rank of #3 (Hold) right now.
The Retail - Consumer Electronics industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 57, which puts it in the top 23% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.