GameStop Corp. (GME) is Initiated by Macquarie to Outperform, Price Target at $36

GameStop Corp. (GME) was Initiated by Macquarie to “Outperform” and the brokerage firm has set the Price Target at $36. Macquarie advised their investors in a research report released on Jul 1, 2016.

Many Wall Street Analysts have commented on GameStop Corp.. Telsey Advisory Group Upgraded GameStop Corp. on Jun 27, 2016 to ” Outperform”, Price Target of the shares are set at $35.Shares were Reiterated by The Benchmark Company on May 27, 2016 to “Sell” and Lowered the Price Target to $ 24.99 from a previous price target of $26.33 .Company shares were Reiterated by Telsey Advisory Group on Apr 15, 2016 to “Market Perform”, Firm has raised the Price Target to $ 34 from a previous price target of $32 .

On the company’s financial health, GameStop Corp. reported $0.66 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on May 26, 2016. Analyst had a consensus of $0.61. The company had revenue of $1971.50 million for the quarter, compared to analysts expectations of $1970.59 million. The company’s revenue was down -4.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.68 EPS.

GameStop Corp. opened for trading at $26.47 and hit $26.97 on the upside on Wednesday, eventually ending the session at $26.41, with a gain of 1.38% or 0.36 points. The heightened volatility saw the trading volume jump to 24,85,809 shares. Company has a market cap of $2,745 M.

In a different news, on Mar 30, 2016, Stephanie M Shern (director) sold 1,769 shares at $31.19 per share price. According to the SEC, on Dec 2, 2015, Steven R Koonin (director) sold 1,250 shares at $35.39 per share price. On Oct 22, 2015, Julian Paul Raines (Chief Executive Officer) sold 30,000 shares at $45.00 per share price, according to the Form-4 filing with the securities and exchange commission.

GameStop Corp. is a multichannel video game consumer electronics and wireless services retailer. The Company operates its business in four Video Game Brands segments: United States Canada Australia and Europe and a Technology Brands segment. The Video Game Brands segments include 6206 stores 4138 of which are included in the United States segment. There are 331 421 and 1316 stores in the Canadian Australian and European segments respectively. Each of the Video Game Brands segments consists primarily of retail operations with all stores engaged in the sale of video game systems software and accessories. Its Video Game Brands stores sell various types of digital products including downloadable content network points cards and prepaid digital among others. They also carry mobile and consumer electronics products which consist primarily of mobile devices tablets and related accessories. Its Technology Brands segment includes its Spring Mobile and Simply Mac businesses.

GameStop Corp.

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