GameStop (GME) Stock Moves -0.95%: What You Should Know
GameStop (GME) closed the most recent trading day at $16.60, moving -0.95% from the previous trading session. This move was narrower than the S&P 500's daily loss of 1.1%. Meanwhile, the Dow lost 1.19%, and the Nasdaq, a tech-heavy index, lost 3.27%.
Heading into today, shares of the video game retailer had lost 22.41% over the past month, lagging the Retail-Wholesale sector's loss of 5.15% and the S&P 500's loss of 3.02% in that time.
Wall Street will be looking for positivity from GameStop as it approaches its next earnings report date. This is expected to be March 21, 2023. The company is expected to report EPS of -$0.16, up 65.96% from the prior-year quarter. 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 typically reflect the latest short-term business trends, which can change frequently. 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. 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 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 remained stagnant within the past month. GameStop is currently a Zacks Rank #3 (Hold).
The Retail - Consumer Electronics industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 98, which puts it in the top 39% 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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GameStop Corp. (GME) : Free Stock Analysis Report
