Zacks Investment Research upgraded shares of PriceSmart (NASDAQ:PSMT) from a hold rating to a buy rating in a research report released on Friday, February 2nd. The firm currently has $95.00 target price on the stock.
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. “
A number of other analysts have also recently weighed in on the stock. Ifs Securities upgraded shares of PriceSmart from a market perform rating to an outperform rating in a research note on Friday, December 29th. Scotiabank restated a sector perform rating on shares of PriceSmart in a research note on Tuesday, January 9th. BidaskClub cut shares of PriceSmart from a hold rating to a sell rating in a research note on Thursday, December 21st. TheStreet upgraded shares of PriceSmart from a c+ rating to a b rating in a research note on Monday, October 23rd. Finally, Howard Weil cut shares of PriceSmart from a sector outperform rating to a sector perform rating in a research note on Friday, January 5th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $92.50.
Shares of PriceSmart (NASDAQ:PSMT) opened at $83.25 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.39 and a quick ratio of 0.44. The company has a market cap of $2,530.00, a P/E ratio of 28.71 and a beta of 1.29. PriceSmart has a 52-week low of $77.50 and a 52-week high of $94.00.
PriceSmart (NASDAQ:PSMT) last posted its earnings results on Thursday, January 4th. The company reported $0.74 EPS for the quarter, missing the Zacks’ consensus estimate of $0.82 by ($0.08). The company had revenue of $767.10 million during 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 company’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period last year, the business earned $0.82 earnings per share. equities research analysts anticipate that PriceSmart will post 3.2 earnings per share for the current year.
The business also recently disclosed a semiannual dividend, which will be paid on Friday, August 31st. Investors of record on Wednesday, August 15th will be paid a $0.35 dividend. This represents a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, August 14th. PriceSmart’s dividend payout ratio (DPR) is 24.14%.
Several hedge funds and other institutional investors have recently made changes to their positions in PSMT. Citigroup Inc. increased its holdings in PriceSmart by 18.5% during the 2nd quarter. Citigroup Inc. now owns 1,411 shares of the company’s stock valued at $124,000 after acquiring an additional 220 shares in the last quarter. Public Employees Retirement System of Ohio increased its holdings in PriceSmart by 16.4% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 1,464 shares of the company’s stock valued at $128,000 after acquiring an additional 206 shares in the last quarter. Ameritas Investment Partners Inc. increased its holdings in PriceSmart by 12.1% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,940 shares of the company’s stock valued at $170,000 after acquiring an additional 210 shares in the last quarter. SG Americas Securities LLC purchased a new position in PriceSmart during the 4th quarter valued at about $186,000. Finally, Guggenheim Capital LLC purchased a new position in PriceSmart during the 4th quarter valued at about $203,000. Hedge funds and other institutional investors own 73.53% of the company’s stock.
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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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