GameStop (GME) Stock Sinks As Market Gains: What You Should Know

GameStop (GME) closed the most recent trading day at $20.01, moving -1.09% from the previous trading session. This change lagged the S&P 500's 1.1% gain on the day. Elsewhere, the Dow gained 0.61%, while the tech-heavy Nasdaq added 6.59%.Coming into today, shares of the video game retailer had gained 12.89% in the past month. In that same time, the Retail-Wholesale sector gained 8.83%, while the S&P 500 gained 4.58%.Investors will be hoping for strength from GameStop as it approaches its next earnings release. The company is expected to report EPS of -$0.16, up 65.96% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.17 billion, down 3.82% from the year-ago period.For the full year, our Zacks Consensus Estimates are projecting earnings of -$1.34 per share and revenue of $5.87 billion, which would represent changes of -17.54% and -2.36%, respectively, from the prior year.Investors should also note any recent changes to analyst estimates for GameStop. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 2.3% higher. GameStop is currently a Zacks Rank #2 (Buy).The Retail - Consumer Electronics industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 183, putting it in the bottom 28% of all 250+ industries.The Zacks Industry Rank gauges the strength of our individual 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.Free Report: Must-See Energy Stocks for 2023Record profits at oil companies can mean big gains for you. With soaring demand and elevated prices, oil stocks could be top performers by far in 2023. Zacks has released a special report revealing the 4 oil stocks experts believe will deliver the biggest gains. (You’ll never guess Stock #2!) Download Oil Market on Fire today, absolutely free.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report GameStop Corp. (GME): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research
Weiter zum vollständigen Artikel bei "Zacks"