Zacks Investment Research upgraded shares of PriceSmart (NASDAQ:PSMT) from a strong sell rating to a hold rating in a research note issued to investors on Tuesday.
According to Zacks, “PriceSmart, Inc. is primarily engaged in the operation of membership shopping warehouses in international markets. The company’s business consists of international membership shopping stores similar to, but smaller in size than, warehouse clubs in the United States. The warehouses sell basic consumer goods with an emphasis on quality, low prices and efficient operations. By offering low prices on brand name and private label merchandise, the warehouses seek to generate sufficient sales volumes to operate profitably at relatively low gross margins. “
Several other equities analysts have also recently weighed in on PSMT. BidaskClub cut shares of PriceSmart from a hold rating to a sell rating in a research note on Thursday, December 21st. Ifs Securities raised shares of PriceSmart from a market perform rating to an outperform rating in a research note on Friday, December 29th. Scotiabank cut shares of PriceSmart to a hold rating and set a $90.00 target price for the company. in a research note on Friday, January 5th. Howard Weil cut shares of PriceSmart from a sector outperform rating to a sector perform rating in a research note on Friday, January 5th. Finally, Scotia Howard Weill reaffirmed a sector perform rating on shares of PriceSmart in a research note on Friday, January 5th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $92.50.
PriceSmart (NASDAQ:PSMT) last posted its earnings results on Thursday, January 4th. The company reported $0.74 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.82 by ($0.08). The company had revenue of $767.10 million for the quarter, compared to analysts’ expectations of $764.67 million. PriceSmart had a net margin of 2.92% and a return on equity of 12.61%. The business’s revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.82 earnings per share. equities analysts predict that PriceSmart will post 3.2 EPS for the current fiscal year.
The firm also recently disclosed a semiannual dividend, which will be paid on Friday, August 31st. Shareholders of record on Wednesday, August 15th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, August 14th. This represents a dividend yield of 0.8%. PriceSmart’s payout ratio is currently 24.14%.
Several large investors have recently modified their holdings of the business. Public Employees Retirement System of Ohio grew its stake in shares of PriceSmart by 16.4% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 1,464 shares of the company’s stock worth $128,000 after buying an additional 206 shares in the last quarter. M&T Bank Corp grew its stake in shares of PriceSmart by 18.7% in the 4th quarter. M&T Bank Corp now owns 4,017 shares of the company’s stock worth $345,000 after buying an additional 633 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of PriceSmart by 0.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 110,022 shares of the company’s stock worth $9,820,000 after buying an additional 972 shares in the last quarter. Aperio Group LLC grew its stake in shares of PriceSmart by 30.6% in the 4th quarter. Aperio Group LLC now owns 4,383 shares of the company’s stock worth $377,000 after buying an additional 1,027 shares in the last quarter. Finally, American International Group Inc. grew its stake in shares of PriceSmart by 8.1% in the 3rd quarter. American International Group Inc. now owns 14,820 shares of the company’s stock worth $1,323,000 after buying an additional 1,109 shares in the last quarter. 77.33% of the stock is owned by institutional investors and hedge funds.
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PriceSmart Company Profile
PriceSmart, Inc, through its subsidiaries, is engaged in the international operation of membership shopping in warehouse clubs. In addition, the Company operates distribution centers and offices in the United States. The Company’s segments include the United States, Central America, the Caribbean and Colombia.
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