GameStop (GME) Gains As Market Dips: What You Should Know

In the latest trading session, GameStop (GME) closed at $30.89, marking a +1.85% move from the previous day. The stock's change was more than the S&P 500's daily loss of 0.38%. Elsewhere, the Dow lost 0.31%, while the tech-heavy Nasdaq lost 0.59%.Shares of the video game retailer have appreciated by 33.73% over the course of the past month, outperforming the Consumer Discretionary sector's gain of 9.85% and the S&P 500's gain of 3.76%.Analysts and investors alike will be keeping a close eye on the performance of GameStop in its upcoming earnings disclosure. The company's earnings report is set to go public on December 10, 2024. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $900 million, down 16.54% from the year-ago period.For the full year, the Zacks Consensus Estimates are projecting earnings of $0.01 per share and revenue of $4.03 billion, which would represent changes of -83.33% and -23.57%, respectively, from the prior year.Investors might also notice recent changes to analyst estimates for GameStop. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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.The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. GameStop currently has a Zacks Rank of #3 (Hold).From a valuation perspective, GameStop is currently exchanging hands at a Forward P/E ratio of 3033. This represents a premium compared to its industry's average Forward P/E of 23.38.The Gaming industry is part of the Consumer Discretionary sector. At present, this industry carries a Zacks Industry Rank of 158, placing it within the bottom 38% of over 250 industries.The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.7 Best Stocks for the Next 30 DaysJust released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.1% per year. So be sure to give these hand picked 7 your immediate attention. See them now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report GameStop Corp. (GME): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks