IBD'S TAKE: GameStop has an IBD Composite Rating of 34, meaning it has been outperformed by 66% of stocks in key metrics over the past 12 months.
As of 1659 BST shares in GameStop were down by 10.48% to $29.11. The company also reaffirmed its full-year 2017 EPS forecast of $3.90 to $4.05, which could miss analyst estimates of $4.01. Gamestop Corp. (GME) released that quarterly income came in under Wall Street targets. 6,053,652 shares of the stock were exchanged.
Net sales fell 7.4% to reach $1.63bn year-on-year during the company's fiscal second quarter, alongside a 10.6% drop in comparable like-for-like sales due to hard comparators.
Sales fell 7.4 percent to $1.63 billion in the quarter ended July 30, the Grapevine-based company said Thursday in a statement, missing the $1.71 billion average of analysts' estimates compiled by Bloomberg. The Tech Brands segment alone, which accounts for less than 13% of total company sales, contributed 23.8% to GME's operating income in the second quarter.
For the fiscal year 2016, the company continues to expects adjusted earnings of $3.90 to $4.05 per share. BRCD market capitalization is 4.18B with 4640 employees. Finally, Zacks Investment Research raised shares of GameStop Corp. from a "hold" rating to a "strong-buy" rating and set a $36.00 target price on the stock in a research note on Wednesday, July 27th. These results include approximately two months of financial results from Ruckus Wireless, which was acquired on May 27, 2016.
"We are delighted to report another great quarter with record revenue", Pure Storage CEO Scott Dietzen said. The company watched its shares sink early on Friday following a weaker-than-expected report. The company's shares are trading 10.85% above their 50-day moving average. Analyst's mean target price for SYNA is 64.91 while analysts mean recommendation is 2.50.
GameStop Corp. has a 52-week low of $24.33 and a 52-week high of $47.62. SYNA Gross Margin is 35.70% and its return on assets is 5.20%. The firm's Debt to equity ratio was 0.00. Seven Eight Capital LLC now owns 5,401 shares of the company's stock worth $171,000 after buying an additional 2,635 shares during the last quarter. SecurePad delivers swift biometric authentication and integrates Synaptics' Natural ID™ fingerprint sensors directly into the TouchPad™convenient to where fingers are naturally located. The gaming industry will rebound, and the investment case improved after the latest quarter as GME showed progress in transitioning to more profitable categories that should lead to an improved capacity to pay dividends going forward.
Big Lots Inc. (NYSE:BIG) announced on August 25, 2016 our Board of Directors declared a quarterly cash dividend of $0.21 per common share.