PriceSmart, Inc. (PSMT) Announces Earnings Results, Misses Expectations By $0.09 EPS
PriceSmart, Inc. (NASDAQ:PSMT) announced its earnings results on Thursday. The company reported $0.64 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.73 by ($0.09), Bloomberg Earnings reports. PriceSmart had a return on equity of 14.05% and a net margin of 3.13%. The firm had revenue of $733.50 million for the quarter, compared to analyst estimates of $733.64 million. During the same quarter last year, the business posted $0.74 EPS. The firm’s revenue was up 3.2% compared to the same quarter last year.
PriceSmart (PSMT) traded down 2.52% during trading on Friday, reaching $87.10. 352,728 shares of the company’s stock were exchanged. The company’s 50 day moving average price is $88.12 and its 200-day moving average price is $86.17. PriceSmart has a 52 week low of $78.00 and a 52 week high of $94.40. The stock has a market capitalization of $2.62 billion, a price-to-earnings ratio of 28.47 and a beta of 1.26.
In related news, Director Sherry S. Bahrambeygui sold 3,561 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $84.88, for a total transaction of $302,257.68. Following the transaction, the director now directly owns 125,374 shares of the company’s stock, valued at $10,641,745.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 28.00% of the company’s stock.
A number of brokerages recently issued reports on PSMT. TheStreet upgraded shares of PriceSmart from a “c+” rating to a “b” rating in a research report on Monday. Roth Capital restated a “buy” rating and set a $100.00 target price on shares of PriceSmart in a research report on Monday, October 2nd. BidaskClub upgraded shares of PriceSmart from a “sell” rating to a “hold” rating in a research report on Thursday, July 6th. Ifs Securities began coverage on shares of PriceSmart in a research report on Monday, September 25th. They set a “market perform” rating and a $85.00 target price on the stock. Finally, Zacks Investment Research upgraded shares of PriceSmart from a “sell” rating to a “hold” rating in a research report on Tuesday, September 12th. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $92.50.
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.
Receive News & Ratings for PriceSmart Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PriceSmart Inc. and related companies with MarketBeat.com's FREE daily email newsletter.