C.L. King Raises GME's Q3 And Q4 EPS Estimates

C.L. King & Associates raised its Q3 EPS estimate for GamesStop Corporation (NYSE: GME) after GME reaffirmed its Q3 guidance.

Their initial estimate of $0.25 was below the low end of the $0.27-$0.33 guidance range, because they were concerned with weakening used game margins. In last few weeks, the situation has changed and C.L. King lifted its estimate to $0.29.

C.L. King has also raised GME's Q4 EPS estimate to $1.52, and their full year estimate is now $2.48. Management's guidance for Q4 is in the $1.47-$1.65 range, and their full year guidance range is $2.40-$2.64. GME earned $2.4 in 2008.

GameStop Corp. (GME) trades around $25.14 which is a 1.41% drop, and C.L. King rates it as a Strong Buy, as they think a further downturn is limited.