PriceSmart (NASDAQ:PSMT) issued its earnings results on Wednesday. The company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.13, Morningstar.com reports. PriceSmart had a net margin of 2.23% and a return on equity of 11.19%. The company had revenue of $788.56 million for the quarter, compared to the consensus estimate of $792.96 million. During the same period in the previous year, the firm earned $0.61 earnings per share. PriceSmart’s quarterly revenue was up .8% compared to the same quarter last year.
PriceSmart stock opened at $61.21 on Friday. The company has a 50 day moving average of $51.66. The stock has a market cap of $1.73 billion, a P/E ratio of 20.05 and a beta of 1.01. PriceSmart has a 1 year low of $48.06 and a 1 year high of $88.65. The company has a quick ratio of 0.42, a current ratio of 1.28 and a debt-to-equity ratio of 0.09.
In other news, Director Sherry S. Bahrambeygui sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $57.16, for a total value of $1,143,200.00. Following the sale, the director now directly owns 154,201 shares of the company’s stock, valued at approximately $8,814,129.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Sherry S. Bahrambeygui sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $55.42, for a total transaction of $554,200.00. Following the completion of the sale, the director now directly owns 154,201 shares in the company, valued at $8,545,819.42. The disclosure for this sale can be found here. Insiders sold a total of 64,007 shares of company stock worth $3,673,796 over the last three months. Insiders own 27.10% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of PriceSmart in the fourth quarter valued at approximately $9,644,000. Raymond James & Associates grew its holdings in shares of PriceSmart by 33.2% in the fourth quarter. Raymond James & Associates now owns 93,902 shares of the company’s stock valued at $5,550,000 after purchasing an additional 23,389 shares in the last quarter. Stone Ridge Asset Management LLC grew its holdings in shares of PriceSmart by 73.8% in the fourth quarter. Stone Ridge Asset Management LLC now owns 13,174 shares of the company’s stock valued at $779,000 after purchasing an additional 5,593 shares in the last quarter. Stifel Financial Corp grew its holdings in shares of PriceSmart by 30.3% in the fourth quarter. Stifel Financial Corp now owns 31,337 shares of the company’s stock valued at $1,844,000 after purchasing an additional 7,296 shares in the last quarter. Finally, Baillie Gifford & Co. grew its holdings in shares of PriceSmart by 0.9% in the fourth quarter. Baillie Gifford & Co. now owns 1,214,396 shares of the company’s stock valued at $71,771,000 after purchasing an additional 11,345 shares in the last quarter. 72.64% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have commented on PSMT. BidaskClub downgraded shares of Wave Life Sciences from a “sell” rating to a “strong sell” rating in a research note on Saturday. Zacks Investment Research downgraded shares of IQIYI from a “hold” rating to a “sell” rating in a research note on Friday, March 29th.
PriceSmart, Inc owns and operates U.S. style membership shopping warehouse clubs in Central America, the Caribbean, and Colombia. Its warehouse clubs sells brand name and private label consumer goods to individuals and businesses. As of November 30, 2018, the company operated 41 warehouse clubs comprising 7 each in Colombia and Costa Rica; 5 in Panama; 4 each in Trinidad and Dominican Republic; 3 each in Guatemala and Honduras; 2 each in El Salvador and Nicaragua; and 1 each in Aruba, Barbados, Jamaica, and the United States Virgin Islands.
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