BidaskClub upgraded shares of PriceSmart (NASDAQ:PSMT) from a sell rating to a hold rating in a research note released on Tuesday morning.
A number of other research analysts also recently weighed in on the company. Ifs Securities upgraded PriceSmart from a market perform rating to an outperform rating in a research note on Friday, December 29th. Scotiabank reiterated a sector perform rating on shares of PriceSmart in a research note on Tuesday, January 9th. Zacks Investment Research upgraded PriceSmart from a hold rating to a buy rating and set a $92.00 target price for the company in a research note on Saturday, January 13th. Howard Weil downgraded PriceSmart from a sector outperform rating to a sector perform rating in a research note on Friday, January 5th. Finally, Scotia Howard Weill reiterated a sector perform rating on shares of PriceSmart in a research note on Friday, January 5th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $92.50.
PriceSmart (NASDAQ:PSMT) opened at $81.90 on Tuesday. 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 firm has a market capitalization of $2,468.77, a P/E ratio of 28.24 and a beta of 1.30. PriceSmart has a one year low of $77.50 and a one year high of $94.00.
PriceSmart (NASDAQ:PSMT) last posted its quarterly earnings results on Thursday, January 4th. The company reported $0.74 earnings per share 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 the consensus estimate of $764.67 million. PriceSmart had a net margin of 2.92% and a return on equity of 12.61%. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.82 earnings per share. equities research analysts predict that PriceSmart will post 3.2 EPS for the current year.
The firm also recently announced a semiannual dividend, which will be paid on Friday, August 31st. Stockholders of record on Wednesday, August 15th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Tuesday, August 14th. This represents a dividend yield of 0.8%. PriceSmart’s dividend payout ratio is currently 24.14%.
Several hedge funds and other institutional investors have recently modified their holdings of PSMT. First Trust Advisors LP boosted its stake in shares of PriceSmart by 28.5% during the 3rd quarter. First Trust Advisors LP now owns 7,116 shares of the company’s stock worth $635,000 after acquiring an additional 1,580 shares during the period. Bank of New York Mellon Corp lifted its holdings in PriceSmart by 0.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 110,022 shares of the company’s stock worth $9,820,000 after purchasing an additional 972 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in PriceSmart by 105.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 79,557 shares of the company’s stock worth $7,100,000 after purchasing an additional 40,877 shares during the last quarter. D.A. Davidson & CO. lifted its holdings in PriceSmart by 12.6% during the 3rd quarter. D.A. Davidson & CO. now owns 10,215 shares of the company’s stock worth $911,000 after purchasing an additional 1,140 shares during the last quarter. Finally, American International Group Inc. lifted its holdings in PriceSmart by 8.1% during the 3rd quarter. American International Group Inc. now owns 14,820 shares of the company’s stock worth $1,323,000 after purchasing an additional 1,109 shares during the last quarter. Institutional investors own 77.30% 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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