PriceSmart (NASDAQ:PSMT) Posts Earnings Results, Misses Estimates By $0.06 EPS

PriceSmart (NASDAQ:PSMT) posted its quarterly earnings results on Wednesday. The company reported $1.45 earnings per share for the quarter, missing the consensus estimate of $1.51 by ($0.06), Zacks reports. PriceSmart had a return on equity of 12.29% and a net margin of 2.76%. The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the previous year, the company earned $1.31 earnings per share. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year.

PriceSmart Price Performance

PSMT stock opened at $85.79 on Thursday. PriceSmart has a 12-month low of $77.51 and a 12-month high of $99.23. The stock has a 50-day moving average price of $87.95 and a two-hundred day moving average price of $89.94. The company has a current ratio of 1.26, a quick ratio of 0.43 and a debt-to-equity ratio of 0.08. The company has a market cap of $2.63 billion, a PE ratio of 18.90 and a beta of 0.87.

PriceSmart Dividend Announcement

The business also recently declared a dividend, which was paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th were given a dividend of $0.63 per share. The ex-dividend date of this dividend was Tuesday, February 18th. PriceSmart’s payout ratio is 27.75%.

Insider Buying and Selling

In other PriceSmart news, Director Gordon H. Hanson sold 1,107 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $87.22, for a total transaction of $96,552.54. Following the completion of the transaction, the director now owns 6,862 shares in the company, valued at $598,503.64. This trade represents a 13.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey Fisher sold 1,700 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $95.00, for a total transaction of $161,500.00. Following the completion of the transaction, the director now owns 16,911 shares of the company’s stock, valued at $1,606,545. This trade represents a 9.13 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,162 shares of company stock worth $1,930,402. 17.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Separately, StockNews.com raised PriceSmart from a “hold” rating to a “buy” rating in a report on Monday, March 10th.

About PriceSmart

PriceSmart, Inc owns and operates U.S.-style membership shopping warehouse clubs in the United States, Central America, the Caribbean, and Colombia. The company provides basic and private label consumer products under the Member's Selection brand, including groceries, cleaning supplies, health and beauty aids, meat, produce, deli, seafood, and poultry.