Gamestop Corporation (NYSE:GME) is reporting third quarter financial results on Tuesday 8th December 2020, after market close.
According to analysts surveyed by Thomson Reuters, GME is expected to report 3Q20 loss of $ 0.85 per share from revenue of $ 1089.08 million.
For the full year, analysts anticipate top line of $ 5573.40 million, while looking forward to loss of $ 2.07 per share bottom line.
Previous Quarter Performance
Gamestop Corporation posted loss for the second quarter of $ 1.40 per share, from the revenue of $ 942.00 million. The quarterly revenues dropped 26.75 percent compared with the same quarter last year. Street analysts expected Gamestop Corporation to report loss of $ 1.13 per share on revenue of $ 1018.60 million for the second quarter. The bottom line results missed street analysts by $ 0.27 or 23.89 percent, at the same time, top line results fell short of analysts by $ 76.6 million or 7.52 percent.
Stock Performance
Shares of Gamestop Corporation traded low $ -0.55 or -3.25 percent on Monday, reaching $ 16.35 with volume of 7.29 million shares. Gamestop Corporation has traded high as $ 17.50 and has cracked $ 16.22 on the downward trend
According to the previous trading day, closing price of $ 16.35, representing a 557.59 % increase from the 52 week low of $ 2.57 and a 12.98 % decrease over the 52 week high of $ 19.42.
The company has a market capital of $ 1.06 billion and is part of the Consumer Cyclical sector and Specialty Retail industry.
Recent Analyst recommendations
- On 12th October 2020, downgraded by Jefferies Financial Group to Hold from Buy rating, with $ 13.00 target price.
Conference Call
Gamestop Corporation will be hosting a conference call at 5:00 PM eastern time on 8th December 2020, to discuss its 3Q20 financial results with the investment community. The participants may dial, 877-451-6152 U.S., and the passcode is 13713035 in order to access the live audio call. A live webcast with presentations will be available on the Internet by visiting the Company website www.gamestop.com
GameStop Corp. operates as a multichannel video game and consumer electronics retailer in the United States, Canada, Australia, and Europe. The company sells new and pre-owned video game hardware; video game software; pre-owned and value video games; video game accessories, including controllers, gaming headsets, virtual reality products, memory cards, and other add-ons for use with video game hardware and software; and digital products, such as downloadable content, network points cards, prepaid digital and prepaid subscription cards, and digitally downloadable software, as well as collectible products.
