What is Wedbush’s Forecast for GameStop FY2028 Earnings?

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

Separately, StockNews.com raised GameStop from a “sell” rating to a “hold” rating in a report on Thursday.

GameStop Price Performance

GameStop stock opened at $21.89 on Thursday. The business has a fifty day moving average price of $25.48 and a 200-day moving average price of $25.66. GameStop has a 1-year low of $9.95 and a 1-year high of $64.83. The stock has a market capitalization of $9.78 billion, a price-to-earnings ratio of 121.64 and a beta of -0.29.

GameStop (NYSE:GME) last announced its earnings results on Tuesday, March 25th. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.21. The company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.48 billion. GameStop had a net margin of 1.45% and a return on equity of 2.11%. During the same period last year, the firm earned $0.21 earnings per share. GameStop’s revenue was down 28.5% compared to the same quarter last year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its position in GameStop by 22.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,502,910 shares of the company’s stock worth $80,322,000 after acquiring an additional 646,488 shares during the last quarter. Foundations Investment Advisors LLC purchased a new position in GameStop in the 4th quarter worth approximately $878,000. Retirement Systems of Alabama lifted its stake in GameStop by 41.7% in the 3rd quarter. Retirement Systems of Alabama now owns 471,156 shares of the company’s stock worth $10,804,000 after purchasing an additional 138,597 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of GameStop by 2.4% during the 4th quarter. Bank of New York Mellon Corp now owns 2,565,455 shares of the company’s stock worth $80,401,000 after purchasing an additional 60,673 shares during the last quarter. Finally, Swiss National Bank grew its position in shares of GameStop by 5.5% in the fourth quarter. Swiss National Bank now owns 834,228 shares of the company’s stock valued at $26,145,000 after purchasing an additional 43,700 shares in the last quarter. Hedge funds and other institutional investors own 29.21% of the company’s stock.

Insider Transactions at GameStop

In related news, General Counsel Mark Haymond Robinson sold 1,577 shares of the firm’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 $48,997.39. Following the sale, the general counsel now owns 42,350 shares in the company, valued at approximately $1,315,814.50. This trade represents a 3.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Daniel William Moore sold 895 shares of the business’s stock in a transaction on Friday, January 3rd. The stock was 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 directly owns 31,385 shares of the company’s stock, valued at approximately $975,131.95. The trade was a 2.77 % decrease in their position. The disclosure for this sale can be found here. Insiders own 12.28% of the company’s stock.

GameStop Company Profile

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.