GameStop (GME) closed the most recent trading day at $27.51, moving +0.18% from the previous trading session. The stock's performance was ahead of the S&P 500's daily loss of 0.47%. Elsewhere, the Dow saw a downswing of 0.31%, while the tech-heavy Nasdaq depreciated by 0.51%.

The video game retailer's shares have seen a decrease of 12.38% over the last month, not keeping up with the Consumer Discretionary sector's gain of 2.51% and the S&P 500's gain of 1.67%.

Investors will be eagerly watching for the performance of GameStop in its upcoming earnings disclosure. The company is predicted to post an EPS of $0.09, indicating a 59.09% decline compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $1.45 billion, indicating a 19.16% decline compared to the corresponding quarter of the prior year.

For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.08 per share and a revenue of $3.99 billion, representing changes of +33.33% and -24.32%, respectively, from the prior year.

It's also important for investors to be aware of any recent modifications to analyst estimates for GameStop. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 #1 (Strong Buy).

Investors should also note GameStop's current valuation metrics, including its Forward P/E ratio of 343.25. This represents a premium compared to its industry's average Forward P/E of 17.28.

The Gaming industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 45, which puts it in the top 18% of all 250+ industries.

The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

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