Retail
GameStop Earnings To Set 2008 Video Game Expectations (GME)
Published:
Last Updated:
Tuesday morning we’ll get to see earnings out of GameStop Corp. (NYSE: GME). The estimates for the largest pure-play video game retailer from First Call are $1.12 EPS on $2.89 billion in revenues. Next quarter estimates are $0.29 EPS on $1.55 billion in revenues. Estimates for fiscal Jan-2009 are $2.23 EPS on $8.15 billion in revenues.
Analysts have an average price target north of $63.00. Back in January we had asked if these were recession proof, and then just last week we saw some strong sales data at a time when overall sales are coming in soft elsewhere in retail. One thing that is different about GameStop versus many other retail names is that earnings expectations have climbed slowly over the last quarter, while the opposite has been the case in other electronics sellers.
This is an odd juncture for GameStop, and for that matter the entire video game sector. 2007 saw major gains because of video game console launches in 2006 and a series of stronger and stronger game title sales. As this is the leader in video game retail sales in the U.S., they may be able to offer some unique insight that other more diversified retailers might not see quite as clearly. GameStop Corp. closed down 4% today at $47.00 and its 52-week trading range is $26.50 to $63.77.
Jon C. Ogg
March 17, 2008
Let’s face it: If your money is just sitting in a checking account, you’re losing value every single day. With most checking accounts offering little to no interest, the cash you worked so hard to save is gradually being eroded by inflation.
However, by moving that money into a high-yield savings account, you can put your cash to work, growing steadily with little to no effort on your part. In just a few clicks, you can set up a high-yield savings account and start earning interest immediately.
There are plenty of reputable banks and online platforms that offer competitive rates, and many of them come with zero fees and no minimum balance requirements. Click here to see if you’re earning the best possible rate on your money!
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.