Baird Maintains an 'Outperform' on GameStop (GME); Pre=announcement Not Surprising
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Price: $18.21 +0.94%
Rating Summary:
3 Buy, 11 Hold, 8 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
3 Buy, 11 Hold, 8 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Baird maintains an 'Outperform' on GameStop (NYSE: GME) price target of $29.00.
Analyst, Colin Sebastian, said, "Not surprisingly, GME preannounces softer Q1 results. Consistent with our lowered estimates earlier this week, GameStop pre-announced Q1 results below guidance and consensus estimates. Comp store sales for Q1 declined 12.5% vs. the guidance range of -9% to -7.5%. Importantly, however, EPS of $0.54 is in line with guidance and $0.02 above target as GameStop exercises cost controls and continues share repurchases. Additionally, the company reaffirmed the full-year EPS range of $3.10-3.30.
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 $21.07 yesterday.
Analyst, Colin Sebastian, said, "Not surprisingly, GME preannounces softer Q1 results. Consistent with our lowered estimates earlier this week, GameStop pre-announced Q1 results below guidance and consensus estimates. Comp store sales for Q1 declined 12.5% vs. the guidance range of -9% to -7.5%. Importantly, however, EPS of $0.54 is in line with guidance and $0.02 above target as GameStop exercises cost controls and continues share repurchases. Additionally, the company reaffirmed the full-year EPS range of $3.10-3.30.
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 $21.07 yesterday.
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