Needham & Company Lowers Estimates on GameStop (GME)

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Needham & Company updated estimates on Hold-rated GameStop (NYSE: GME) on a change in assumptions and Q2 results.

The firm reduces 2012 EPS estimate from $3.15 to $3.10, and reduced sales estimate from $9.077 billion to $8.997 billion. The firm is maintaining 2013 EPS estimate of $3.60, and reducing 2014 EPS estimate from $4.55 to $4.20.

"We maintain our Hold rating, but acknowledge that upcoming video game hardware launches may cast a positive light on GME's business," analyst Sean McGowan states.

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 $23.15 yesterday, with a 52 week range of $15.32-$26.66.

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