GameStop (GME) Gains As Market Dips: What You Should Know
GameStop (GME) closed at $180.67 in the latest trading session, marking a +0.04% move from the prior day. This change outpaced the S&P 500's 0.85% loss on the day.
Prior to today's trading, shares of the video game retailer had gained 9.87% over the past month. This has outpaced the Retail-Wholesale sector's loss of 4.09% and the S&P 500's loss of 0.41% in that time.
GME will be looking to display strength as it nears its next earnings release. In that report, analysts expect GME to post earnings of -$0.56 per share. This would mark year-over-year growth of 65.22%. Meanwhile, our latest consensus estimate is calling for revenue of $1.17 billion, up 14.63% from the prior-year quarter.
GME's full-year Zacks Consensus Estimates are calling for earnings of -$0.63 per share and revenue of $5.63 billion. These results would represent year-over-year changes of +70.56% and +10.69%, respectively.
Any recent changes to analyst estimates for GME should also be noted by investors. 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. 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.
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 has moved 13.15% higher within the past month. GME currently has a Zacks Rank of #3 (Hold).
The Retail - Consumer Electronics industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 91, which puts it in the top 36% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
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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