Stein Mart Trading Down 5.8% on Analyst Downgrade (SMRT)
Stein Mart (NASDAQ:SMRT)’s share price dropped 5.8% on Thursday after Canaccord Genuity lowered their price target on the stock from $20.00 to $19.00, ARN reports. Canaccord Genuity currently has a buy rating on the stock. Stein Mart traded as low as $12.84 and last traded at $12.87, with a volume of 62,501 shares traded. The stock had previously closed at $13.66.
The stock has a 50-day moving average of $13.4 and a 200-day moving average of $13.3. The company has a market cap of $577.0 million and a P/E ratio of 24.75.
Stein Mart (NASDAQ:SMRT) last announced its earnings results on Thursday, August 21st. The company reported $0.08 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.08. The company had revenue of $298.20 million for the quarter, compared to the consensus estimate of $300.80 million. During the same quarter in the prior year, the company posted $0.08 earnings per share. The company’s quarterly revenue was up 2.4% on a year-over-year basis. On average, analysts predict that Stein Mart will post $0.70 earnings per share for the current fiscal year.
Stein Mart, Inc (NASDAQ:SMRT) is a national retailer offering the fashion merchandise, service and presentation of a department or specialty store.
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