PriceSmart, Inc. Same Store Sales Rise 0.5% in January, Shares Drop by 7.5% (NASDAQ:PSMT)

PriceSmart’s (NASDAQ:PSMT) same-store sales climbed 0.5% in the month of January. PriceSmart’s shares fell by 7.5% in the first full-day of trading following the news.

Several research analysts recently weighed in on the stock. Scotiabank set a $90.00 price target on shares of PriceSmart and gave the stock a “sector perform” rating in a report on Thursday, February 8th. Zacks Investment Research upgraded shares of PriceSmart from a “hold” rating to a “buy” rating and set a $95.00 price target on the stock in a report on Friday, February 2nd. Scotia Howard Weill restated a “sector perform” rating on shares of PriceSmart in a report on Friday, January 5th. Howard Weil cut shares of PriceSmart from a “sector outperform” rating to a “sector perform” rating in a report on Friday, January 5th. Finally, BidaskClub upgraded shares of PriceSmart from a “sell” rating to a “hold” rating in a report on Thursday, January 4th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $92.50.

PriceSmart (NASDAQ:PSMT) opened at $80.10 on Thursday. 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 cap of $2,440.00, a PE ratio of 27.62 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 released its 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 analysts’ expectations of $764.67 million. PriceSmart had a net margin of 2.92% and a return on equity of 12.61%. The firm’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.82 earnings per share. equities research analysts anticipate that PriceSmart will post 3.2 EPS for the current year.

The business also recently announced a semiannual dividend, which will be paid on Friday, August 31st. Shareholders of record on Wednesday, August 15th will be paid a $0.35 dividend. This represents a yield of 0.8%. The ex-dividend date is Tuesday, August 14th. PriceSmart’s payout ratio is 24.14%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PSMT. Prudential Financial Inc. boosted its stake in PriceSmart by 8.0% in the second quarter. Prudential Financial Inc. now owns 3,632 shares of the company’s stock valued at $318,000 after acquiring an additional 270 shares during the last quarter. Principal Financial Group Inc. boosted its stake in PriceSmart by 7.6% in the second quarter. Principal Financial Group Inc. now owns 3,075 shares of the company’s stock valued at $269,000 after acquiring an additional 218 shares during the last quarter. Teachers Advisors LLC boosted its stake in PriceSmart by 11.6% in the second quarter. Teachers Advisors LLC now owns 50,591 shares of the company’s stock valued at $4,432,000 after acquiring an additional 5,267 shares during the last quarter. TIAA CREF Investment Management LLC boosted its stake in PriceSmart by 7.5% in the second quarter. TIAA CREF Investment Management LLC now owns 85,831 shares of the company’s stock valued at $7,519,000 after acquiring an additional 5,990 shares during the last quarter. Finally, Nationwide Fund Advisors boosted its stake in PriceSmart by 31.5% in the second quarter. Nationwide Fund Advisors now owns 26,651 shares of the company’s stock valued at $2,335,000 after acquiring an additional 6,391 shares during the last quarter. Hedge funds and other institutional investors own 74.43% of the company’s stock.

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About PriceSmart

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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