The momentum gathered from the better-than-expected
fourth-quarter fiscal 2012 results on the back of strength
witnessed across digital and mobile businesses and gross margin
improvement facilitated the shares of
) to attain a new 52-week high of $28.67 on Mar 28, 2013.
Shares of this Zacks Rank #3 (Hold) video game and
entertainment software retailer eventually closed at $27.97, up
5.8% from the previous day's session and generated a year-to-date
return of roughly 10.2%. The company currently trades at a
forward P/E of 8.95x, a 27.8% discount to the peer group average
GameStop, which competes with
), has been evolving continuously and transformed as a mixed
retailer of physical and digital gaming and electronics products.
The company's ventures in digital, iDevice and gaming tablet
businesses are expected to be accretive to its results.
GameStop declared impressive results on Mar 28, 2013, wherein
earnings of $2.16 per share beat the Zacks Consensus Estimate of
$2.09, and rose 24.9% from $1.73 earned in the prior-year
quarter. In the last 4 quarters, the company has outpaced the
Zacks Consensus Estimate by an average of 12.1%.
The Grapevine, Texas-based GameStop's total net sales of
$3,561.5 million fell marginally by 0.5% from the year-ago
quarter but came ahead of the Zacks Consensus Estimate of $3,493
million. Digital receipts increased 60.3% year over year, whereas
Mobile sales came in at $100 million.
Recently, on Feb 19, 2013, GameStop raised its quarterly
dividend by 10% to 27.5 cents (or $1.10 annually) from 25 cents a
share (or $1.00 annually). The increased dividend was paid on Mar
19, 2013, to stockholders of record as of Mar 5, 2013.
Alongside, companies like
Time Warner Inc.
Lions Gate Entertainment Corp.
) achieved new 52-week highs on Mar 28 of $58.02 and $24.15,
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