U.S. markets closed
  • S&P 500

    4,210.24
    +87.77 (+2.13%)
     
  • Dow 30

    32,774.41
    +0.01 (+0.00%)
     
  • Nasdaq

    12,854.80
    +360.88 (+2.89%)
     
  • Russell 2000

    1,969.25
    +56.36 (+2.95%)
     
  • Crude Oil

    91.58
    +1.08 (+1.19%)
     
  • Gold

    1,808.00
    -4.30 (-0.24%)
     
  • Silver

    20.57
    +0.09 (+0.43%)
     
  • EUR/USD

    1.0306
    +0.0088 (+0.87%)
     
  • 10-Yr Bond

    2.7860
    -0.0110 (-0.39%)
     
  • GBP/USD

    1.2217
    +0.0141 (+1.17%)
     
  • USD/JPY

    132.8990
    -2.2170 (-1.64%)
     
  • BTC-USD

    23,844.71
    +684.52 (+2.96%)
     
  • CMC Crypto 200

    559.85
    +28.63 (+5.39%)
     
  • FTSE 100

    7,507.11
    +18.96 (+0.25%)
     
  • Nikkei 225

    27,819.33
    -180.63 (-0.65%)
     

GameStop (GME) Gains As Market Dips: What You Should Know

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
·2 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

GameStop (GME) closed at $38.36 in the latest trading session, marking a +1.13% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.08%. Meanwhile, the Dow lost 0.26%, and the Nasdaq, a tech-heavy index, lost 0.06%.

Prior to today's trading, shares of the video game retailer had gained 29.2% over the past month. This has outpaced the Retail-Wholesale sector's gain of 11.4% and the S&P 500's gain of 8.78% in that time.

GameStop will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of -$0.38, down 100% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.25 billion, up 6.03% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of -$1.50 per share and revenue of $6.41 billion, which would represent changes of -31.58% and +6.72%, respectively, from the prior year.

Investors might also notice recent changes to analyst estimates for GameStop. These recent revisions tend to reflect the evolving nature of short-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. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.08% lower within the past month. GameStop currently has a Zacks Rank of #4 (Sell).

The Retail - Consumer Electronics industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 238, putting it in the bottom 6% 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.


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
GameStop Corp. (GME) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.