) surged to attain a new 52-week high of $37.23 on May 3, 2013,
before closing at $37.15, up 2.3% from the previous day's
session. Shares of this Zacks Rank #3 (Hold) stock have amassed a
year-to-date return of roughly 46.4%.
Based on the current price, this video game and entertainment
software retailer is 12.7% above the Zacks Consensus average
analyst price target of $32.97. The company currently trades at a
forward P/E of 12.05x, a 6.7% discount to the peer group average
GameStop is well positioned to take the advantage of the
growing market for video game products and PC entertainment
software. The company's strategy is to branch out through store
expansions in favorable localities, by providing the largest
title collection of video games, and leveraging its
first-to-market distribution network to offer the latest hardware
and software releases.
GameStop has been evolving continuously and transformed as a
mixed retailer of physical and digital gaming and electronic
products. The company's ventures in digital, iDevice and gaming
tablet businesses are expected to be accretive to its
This is evident from its better-than-expected fourth-quarter
fiscal 2012 results on the back of strength witnessed across
digital and mobile businesses and gross margin improvement.
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%.
Alongside, companies like
Time Warner Inc.
Wolverine World Wide Inc.
) achieved new 52-week highs of $46.45, $60.72 and $49.86,
respectively on May 3.
GAMESTOP CORP (GME): Free Stock Analysis
MACYS INC (M): Free Stock Analysis Report
TIME WARNER INC (TWX): Free Stock Analysis
WOLVERINE WORLD (WWW): Free Stock Analysis
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