In a report published Friday, Ascendiant Capital analyst Edward Woo reiterated a Buy rating on GameStop Corp. GME, and raised the price target from $34.00 to $44.00.
In the report, Woo noted, “GameStop will report Q1 2013 (April) results before market open on Thursday, May 23 with a conference call at 8:00am PT. We expect Q1 results slightly below our estimates, for revenue of $1.85 billion and EPS of $0.43, and consensus for revenue of $1.84 billion and EPS of $0.40. Q1 guidance is for revenue of $1.83 – 1.88 billion, comps of -8.0% to -5.5%, and EPS of $0.38 – 0.43. We estimate that overall U.S. video game industry sales were weak at -20% in GameStop's Q1, but that GameStop performed better due to market share gains (similar to Q4 when it reported comps of -4.6% although industry sales were ~-17%). We expect management to maintain FY13 EPS guidance of $2.75 – 3.15, but to lower guidance for revenue (for $8.18 - 8.89 billion (-8.0% to 0% growth)) and comps (for-6.0% to +1.5%) due to continued weak video game industry sales.”
GameStop Corp. closed on Thursday at $38.05.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in