GameStop (GME) Stock Moves -1.45%: What You Should Know

Zacks Equity Research
·2 min read
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GameStop (GME) closed the most recent trading day at $144.79, moving -1.45% from the previous trading session. This change was narrower than the S&P 500's 2.15% loss on the day.

Coming into today, shares of the video game retailer had gained 4.21% in the past month. In that same time, the Retail-Wholesale sector lost 1.65%, while the S&P 500 gained 0.7%.

Investors will be hoping for strength from GME as it approaches its next earnings release. On that day, GME is projected to report earnings of -$0.56 per share, which would represent year-over-year growth of 65.22%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.17 billion, up 14.63% from the year-ago period.

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.

Investors might also notice recent changes to analyst estimates for GME. 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

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 is holding a Zacks Rank of #3 (Hold) right now.

The Retail - Consumer Electronics industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 47, putting it in the top 19% 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.

You can find more information on all of these metrics, and much more, on Zacks.com.


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