Baird Adjusts Estimates on GameStop (GME); Solid Results Given Limited Titles and Tough Hardware Comps
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Price: $18.66 +0.48%
Rating Summary:
3 Buy, 11 Hold, 8 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
3 Buy, 11 Hold, 8 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Baird maintains an 'Outperform' on GameStop (NYSE: GME) price target of $29.00.
Analyst, Colin Sebastian, said, "Q4 results were directionally consistent with our preview; a bit light on the top line and an in-line EPS. Revenue was hurt by tough hardware comps (Kinect launch in 2010) and aging consoles. Notably, both new software sales and their used business grew and took share. GameStop also continued to demonstrate its ability to manage profitability efficiently in a tough market."
"We are adjusting our estimates in-line with guidance, including Q1 revenue and EPS estimates of $2.10 billion and $0.53 vs. our original $2.24 billion and $0.57 targets. We are lowering our 2012 revenue estimate to $9.69 billion from $9.91 billion and maintaining our EPS estimate of $3.15."
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 $23.16 yesterday.
Analyst, Colin Sebastian, said, "Q4 results were directionally consistent with our preview; a bit light on the top line and an in-line EPS. Revenue was hurt by tough hardware comps (Kinect launch in 2010) and aging consoles. Notably, both new software sales and their used business grew and took share. GameStop also continued to demonstrate its ability to manage profitability efficiently in a tough market."
"We are adjusting our estimates in-line with guidance, including Q1 revenue and EPS estimates of $2.10 billion and $0.53 vs. our original $2.24 billion and $0.57 targets. We are lowering our 2012 revenue estimate to $9.69 billion from $9.91 billion and maintaining our EPS estimate of $3.15."
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 $23.16 yesterday.
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