GameStop's October Quarter In Line With Estimates

Piper Jaffray maintains their estimates on GameStop GME after GME reported October quarter results in line with estimates. GME's October quarter sales are expected to be in line with the consensus estimate of $1.96B. Piper Jaffray expects GME's EPS to meet consensus or be slightly higher. The consensus EPS estimate is $0.37 and Piper Jaffray's estimate is $0.38. Piper Jaffray writes, "There is no change to our estimates. We expect management will maintain its sales and earnings ($2.58-$2.68) outlook for the fiscal year. Additionally, our earnings model reflects ~$400M in equity repurchases during the next 15-month period." GME closed at $20.72 on Monday.