What is Wedbush's Forecast for GameStop FY2028 Earnings?

GameStop Corp. (NYSE:GME - Free Report) - Equities researchers at Wedbush issued their FY2028 EPS estimates for GameStop in a note issued to investors on Wednesday, March 26th. Wedbush analyst M. Pachter forecasts that the company will post earnings per share of $0.47 for the year. Wedbush has a "Underperform" rating and a $10.00 price target on the stock. The consensus estimate for GameStop's current full-year earnings is $0.08 per share.

Separately, StockNews.com upgraded shares of GameStop from a "sell" rating to a "hold" rating in a research report on Thursday.

GameStop Trading Up 1.7 %

Shares of GameStop stock traded up $0.38 during trading on Thursday, reaching $22.11. The company's stock had a trading volume of 8,388,455 shares, compared to its average volume of 19,993,858. GameStop has a one year low of $9.95 and a one year high of $64.83. The stock has a 50-day moving average price of $25.36 and a two-hundred day moving average price of $25.69. The stock has a market capitalization of $9.88 billion, a P/E ratio of 122.42 and a beta of -0.29.

GameStop (NYSE:GME - Get Free Report) last issued its earnings results on Tuesday, March 25th. The company reported $0.30 EPS for the quarter, beating analysts' consensus estimates of $0.09 by $0.21. GameStop had a return on equity of 2.11% and a net margin of 1.45%. The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same period in the prior year, the company posted $0.21 earnings per share. GameStop's revenue was down 28.5% on a year-over-year basis.

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Hedge Funds Weigh In On GameStop

Several hedge funds have recently added to or reduced their stakes in the stock. Thrivent Financial for Lutherans increased its stake in shares of GameStop by 40.0% in the 3rd quarter. Thrivent Financial for Lutherans now owns 91,868 shares of the company's stock valued at $2,107,000 after acquiring an additional 26,259 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in GameStop by 22.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,502,910 shares of the company's stock valued at $80,322,000 after purchasing an additional 646,488 shares in the last quarter. Penserra Capital Management LLC raised its holdings in GameStop by 110.8% in the third quarter. Penserra Capital Management LLC now owns 47,118 shares of the company's stock worth $1,080,000 after purchasing an additional 24,761 shares during the period. Centaurus Financial Inc. bought a new position in shares of GameStop during the third quarter worth $171,000. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of GameStop by 29.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 303,826 shares of the company's stock valued at $6,967,000 after buying an additional 69,340 shares during the period. Institutional investors and hedge funds own 29.21% of the company's stock.

Insider Activity

In other GameStop news, insider Daniel William Moore sold 895 shares of the company's stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $31.07, for a total transaction of $27,807.65. Following the completion of the sale, the insider now owns 31,385 shares in the company, valued at approximately $975,131.95. The trade was a 2.77 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Mark Haymond Robinson sold 1,577 shares of the firm's stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $31.07, for a total value of $48,997.39. Following the completion of the transaction, the general counsel now owns 42,350 shares in the company, valued at $1,315,814.50. This represents a 3.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.28% of the stock is currently owned by insiders.

About GameStop

GameStop Corp., a specialty retailer, provides games and entertainment products through its stores and ecommerce platforms in the United States, Canada, Australia, and Europe. The company sells new and pre-owned gaming platforms; accessories, such as controllers, gaming headsets, and virtual reality products; new and pre-owned gaming software; and in-game digital currency, digital downloadable content, and full-game downloads.