PriceSmart, Inc.’s Same Store Sales Numbers Miss Expectations, Shares Rise by 0% (NASDAQ:PSMT)

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PriceSmart’s (NASDAQ:PSMT) same store sales decreased by 1.9% in the month of February. PriceSmart’s shares climbed by 0% in the first full-day of trading following the report.

PSMT has been the topic of several analyst reports. BidaskClub downgraded shares of PriceSmart from a “sell” rating to a “strong sell” rating in a research note on Wednesday, December 12th. Zacks Investment Research raised shares of PriceSmart from a “hold” rating to a “buy” rating and set a $73.00 price objective for the company in a report on Friday, January 18th. Finally, ValuEngine lowered shares of PriceSmart from a “hold” rating to a “sell” rating in a report on Tuesday, January 29th. Two equities research analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $77.00.

In other PriceSmart news, Director Mitchell G. Lynn sold 592 shares of the business’s stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $60.91, for a total transaction of $36,058.72. Following the completion of the transaction, the director now directly owns 1,988 shares of the company’s stock, valued at approximately $121,089.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert E. Price sold 10,000 shares of the business’s stock in a transaction dated Wednesday, January 2nd. The shares were sold at an average price of $58.55, for a total transaction of $585,500.00. Following the transaction, the director now directly owns 80 shares of the company’s stock, valued at $4,684. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,309 shares of company stock valued at $2,065,264. 27.10% of the stock is owned by company insiders.

PriceSmart stock traded down $1.90 during midday trading on Thursday, reaching $61.83. 5,386 shares of the stock traded hands, compared to its average volume of 87,291. The company has a quick ratio of 0.38, a current ratio of 1.30 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $1.92 billion, a price-to-earnings ratio of 25.59 and a beta of 0.89. PriceSmart has a fifty-two week low of $55.53 and a fifty-two week high of $94.45.

PriceSmart (NASDAQ:PSMT) last released its quarterly earnings results on Wednesday, January 9th. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.17. PriceSmart had a net margin of 2.09% and a return on equity of 11.73%. The company had revenue of $779.60 million for the quarter, compared to the consensus estimate of $795.03 million. During the same period in the previous year, the firm earned $0.74 EPS. PriceSmart’s revenue was up 1.6% on a year-over-year basis. Research analysts expect that PriceSmart will post 2.67 earnings per share for the current year.

The firm also recently announced a semiannual dividend, which was paid on Thursday, February 28th. Investors of record on Friday, February 15th were issued a $0.35 dividend. The ex-dividend date of this dividend was Thursday, February 14th. This represents a dividend yield of 1.15%. PriceSmart’s payout ratio is currently 28.81%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC increased its position in shares of PriceSmart by 6.1% in the second quarter. FMR LLC now owns 1,337,985 shares of the company’s stock worth $121,088,000 after acquiring an additional 76,580 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of PriceSmart by 17.3% in the third quarter. Russell Investments Group Ltd. now owns 33,137 shares of the company’s stock worth $2,694,000 after acquiring an additional 4,888 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of PriceSmart by 24.5% in the third quarter. Victory Capital Management Inc. now owns 6,394 shares of the company’s stock worth $518,000 after acquiring an additional 1,260 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of PriceSmart by 4.8% in the third quarter. Wells Fargo & Company MN now owns 304,354 shares of the company’s stock worth $24,637,000 after acquiring an additional 14,046 shares in the last quarter. Finally, Thornburg Investment Management Inc. increased its position in shares of PriceSmart by 2.8% in the third quarter. Thornburg Investment Management Inc. now owns 158,513 shares of the company’s stock worth $12,832,000 after acquiring an additional 4,250 shares in the last quarter. Institutional investors and hedge funds own 74.50% of the company’s stock.

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PriceSmart Company Profile

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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