|Bid||0.00 x 1100|
|Ask||0.00 x 1400|
|Day's Range||5.18 - 5.81|
|52 Week Range||3.15 - 16.90|
|Beta (3Y Monthly)||0.53|
|PE Ratio (TTM)||N/A|
|Earnings Date||Dec 10, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||4.97|
Gamestop shares are dropping Wednesday after it missed Wall Street estimates in its latest earnings report. Yahoo Finance’s Dan Howley joins On the Move to discuss.
GameStop Corp. shares were hit again on Wednesday, as analysts weighed in on another weak quarter that prompted one to invoke Jim Morrison to describe the continued unraveling of the video game retailer.
GameStop Corp. had another difficult quarter – and investors aren’t happy. Shares of the struggling video game retailer were down more than 17 percent in midday trading. Revenue came in light, falling by 26 percent in the third fiscal quarter that ended Nov. 2.
A range bound market ahead of the Federal Reserve meeting was predicted on today's PreMarket Prep Show and so far, the market has not disappointed us. Fed Won't Move Rates, But What Is Their Tone? On most Fed decision days, the stock indexes trade in a tight range ahead of the announcement and then get volatile once the announcement is made. What the Street will be interpreting from Jerome Powell's speech is willingness to hike rates in 2020 based on his outlook for inflation.
Benchmark analyst Mike Hickey maintains a Sell rating on Gamestop's stock with an $3 price target. Credit Suisse analyst Seth Sigman maintains at Underperform, price target lowered from $6 to $5. GameStop's disappointing quarter was accompanied with yet another reduction to its outlook, Hickey said.
(Bloomberg) -- GameStop Corp., the ailing video-game retailer, plunged as much as 19% after posting a third-quarter loss that was larger than even the most dire Wall Street estimate.The adjusted quarterly loss came to 49 cents a share, the merchant said Tuesday. The most pessimistic analyst had expected a deficit of 16 cents. Sales plummeted 26% from a year earlier to $1.44 billion, and GameStop also reduced its forecast for the year.The shares tumbled to as low as $5.25 in their worst decline in three months. The stock had lost 48% this year as of Tuesday’s close.The dismal results came at the start of the industry’s biggest season, with top-sellers including Call of Duty: Modern Warfare and Luigi’s Mansion 3 being released in the period.The chain has struggled to sustain its revenue as more video-game players gravitate to free online titles that generate money by selling fans online merchandise while they play. The Grapevine, Texas-based retailer, which once boasted annual sales of more than $9 billion, is forecast to finish the current fiscal year with revenue of $7.17 billion, based on analysts’ estimates.Another headwind: The current generation of game consoles is aging, leaving consumers without a reason to upgrade.Chief Executive Officer George Sherman blamed “the unprecedented decline in new hardware sales” for hurting sales last quarter, “as the current generation of gaming consoles reach the end of their life cycle.”Mike Hickey, an analyst at Benchmark Co., described the latest results as “awful.”The company’s “voyage seems doomed as the digital storm intensifies.”To contact the reporters on this story: Rob Golum in Los Angeles at firstname.lastname@example.org;Olga Kharif in Portland at email@example.com;Christopher Palmeri in Los Angeles at firstname.lastname@example.orgTo contact the editors responsible for this story: Nick Turner at email@example.com, John J. Edwards III, Molly SchuetzFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
GameStop shares have lost more than half their value this year as video game enthusiasts put off new console and game purchases ahead of next generation console launches expected late next year.
The company, which gained popularity by selling video games for Atari consoles in the 1980s, now also faces the rise of game streaming services from technology giants such as Alphabet unit Google and Apple Inc. "With console makers set to introduce new and innovative gaming consoles late next year, we anticipate this trend to continue until the fourth quarter of 2020," Chief Executive Officer George Sherman said in a statement. Newer versions of Sony Corp's PlayStation and Microsoft Corp's Xbox are expected to be unveiled next year.
GameStop Corp reported a plunge in quarterly sales and slashed its full-year profit forecast on Tuesday, as the company struggles with consumers delaying purchases ahead of the launch of new consoles, sending its shares plunging 21%. Latest versions of Sony Corp's PlayStation and Microsoft Corp's Xbox are due to be unveiled next year, with video game and console retailers also hit by the shift to downloadable or streamable games and away from physical versions. GameStop now sees full-year earnings per share in the range of 10 cents to 20 cents, down from an earlier forecast of $1.15 to $1.30.
GameStop Corp. shares dropped in the extended session Tuesday after the video game retailer's results and outlook fell well short of Wall Street expectations. GameStop shares dropped 21% after hours, following a 2.8% rise in the regular session to close at $6.51. GameStop forecast adjusted full-year earnings of 10 cents to 20 cents a share with a decline in same store sales "in the high-teens," while analysts surveyed by FactSet had forecast $1.21 a share on a 0.3% decline in same-store sales. The company reported a third-quarter loss of $83.4 million, or $1.02 a share, compared with a loss of $488.6 million, or $4.78 a share, in the year-ago period. The company reported an adjusted loss of 49 cents a share. Revenue declined to $1.44 billion from $1.94 billion in the year-ago quarter. Analysts surveyed by FactSet had forecast earnings of 11 cents on revenue of $1.62 billion. "Our third quarter results continue to reflect the prevailing industry trends, most notably the unprecedented decline in new hardware sales seen across the market as the current generation of gaming consoles reach the end of their lifecycle and consumers delay their spending in anticipation of new hardware releases," said George Sherman, GameStop chief executive, in a statement.
GameStop Corp. (NYSE: GME ) shares are falling following a massive third-quarter earnings miss. Adjusted earnings came in at a loss of 49 cents per share, missing estimates by 60 cents. Sales came in at ...
GRAPEVINE, Texas, Dec. 10, 2019 -- GameStop Corp. (NYSE: GME), today reported sales, earnings and share repurchase activity for the third quarter ended November 2, 2019, and.
GameStop shares dropped double digits in after-hours trading Tuesday, after the videogame retailer missed analyst estimates for its third quarter and in its outlook. Analysts were expecting the company to report earnings of 11 cents a share on revenue of $1.62 billion. "We remain on track to achieve our $200 million annualized operating-profit improvement goal by 2021, and we believe our strategic initiatives will enable to us to achieve our long-term growth and profit objectives," CEO George Sherman said in a statement.
Revisions to Q3 Productivity and Unit Labor Cost both came in lower than expected, while AutoZone (AZO) beat estimates on top and bottom lines.
On Tuesday, December 10, GameStop (NYSE: GME ) will release its latest earnings report. Here is Benzinga's outlook for the company. Earnings and Revenue Wall Street expects EPS of 11 cents and sales around ...
The Federal Open Market Committee’s (FOMC) last policy-setting meeting of the year begins and the National Federation of Independent Business’ (NFIB) latest reading on small business sentiment are due on Tuesday.
Astralis is the first pure-play team to sell stock to the public in the burgeoning world of professional videogame playing.