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Amazing : GameStop (GME) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, GameStop (GME) closed at $183.94, marking a +1.98% move from the previous day. This move outpaced the S&P 500's daily gain of 0.24%.
Coming into today, shares of the video game retailer had lost 13.91% in the past month. In that same time, the Retail-Wholesale sector gained 0.22%, while the S&P 500 gained 4.09%.
GME will be looking to display strength as it nears its next earnings release. On that day, GME is projected to report earnings of -$0.42 per share, which would represent year-over-year growth of 70%. Our most recent consensus estimate is calling for quarterly revenue of $1.12 billion, up 18.69% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.02 per share and revenue of $5.67 billion. These totals would mark changes of +100.93% and +11.4%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for GME. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 101.63% higher within the past month. GME is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note GME's current valuation metrics, including its Forward P/E ratio of 9018. This represents a premium compared to its industry's average Forward P/E of 13.29.
The Retail - Consumer Electronics industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 66, which puts it in the top 26% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.