Goldman Anticipates Better-Than-Expected Q2 Results From GameStop (GME) on Thursday
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Price: $33.67 -6.5%
Rating Summary:
7 Buy, 4 Hold, 3 Sell
Rating Trend:
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Today's Overall Ratings:
Up: 11 | Down: 15 | New: 13
Rating Summary:
7 Buy, 4 Hold, 3 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 15 | New: 13
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With GameStop (NYSE: GME) set to report earnings on Thursday, analysts at Goldman Sachs have revised their EPS estimates to reflect better than expected results. Early this month, a few top video game publishers beat top-line estimates for quarter. Much of the gains came in digital, but one company, Activision Blizzard (Nasdaq: ATVI) reported a 50 percent gain in revenue and 141 percent year-over-year growth in retail sales. As a result, Goldman analysts are reading through the numbers and revising GameStop estimates.
“We estimate that GME’s sales of Diablo 3 outperformed GME’s expectations by around 1 mn units, and we increase our estimate for GME’s “other” category, which includes PC packaged goods and digital sales,” said analyst Brian Karimzad.
Analyst now expect same-store sales comps and EPS for 2Q12 of (- 4%) and $0.21 from (-5%) and $0.17. Guidance is expected to show comps of (-5%) to (-11%), and may be enough to drive upside, according to today’s report.
Goldman Sachs has a Neutral rating on GameStop (NYSE: GME) with a price target of $20.00.
For an analyst ratings summary and ratings history on GameStop click here. For more ratings news on GameStop click here.
Shares of GameStop closed at $17.74 yesterday, with a 52 week range of $15.32-$26.66.
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“We estimate that GME’s sales of Diablo 3 outperformed GME’s expectations by around 1 mn units, and we increase our estimate for GME’s “other” category, which includes PC packaged goods and digital sales,” said analyst Brian Karimzad.
Analyst now expect same-store sales comps and EPS for 2Q12 of (- 4%) and $0.21 from (-5%) and $0.17. Guidance is expected to show comps of (-5%) to (-11%), and may be enough to drive upside, according to today’s report.
Goldman Sachs has a Neutral rating on GameStop (NYSE: GME) with a price target of $20.00.
For an analyst ratings summary and ratings history on GameStop click here. For more ratings news on GameStop click here.
Shares of GameStop closed at $17.74 yesterday, with a 52 week range of $15.32-$26.66.
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