Stein Mart Inc. (SMRT) Lowered to “Hold” at Johnson Rice
Other analysts have also recently issued reports about the stock. TheStreet upgraded shares of Stein Mart from a hold rating to a buy rating in a report on Monday, August 15th. Zacks Investment Research upgraded shares of Stein Mart from a sell rating to a hold rating in a report on Wednesday, July 20th. Finally, Sidoti cut shares of Stein Mart from a buy rating to a neutral rating in a report on Thursday. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the company. Stein Mart presently has a consensus rating of Hold and a consensus target price of $7.50.
Shares of Stein Mart (NASDAQ:SMRT) traded up 0.4778% during mid-day trading on Thursday, hitting $6.3301. 109,128 shares of the company’s stock traded hands. Stein Mart has a 1-year low of $5.61 and a 1-year high of $9.63. The stock has a 50 day moving average price of $8.06 and a 200-day moving average price of $7.54. The stock has a market cap of $296.89 million, a P/E ratio of 13.2429 and a beta of 0.90.
Stein Mart (NASDAQ:SMRT) last posted its quarterly earnings results on Friday, August 19th. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.07 by $0.01. The company had revenue of $319 million for the quarter. Stein Mart had a return on equity of 30.61% and a net margin of 1.63%. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.10 EPS. Equities research analysts anticipate that Stein Mart will post $0.57 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Thursday, September 29th will be given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 4.76%. The ex-dividend date of this dividend is Tuesday, September 27th. Stein Mart’s dividend payout ratio is 63.83%.
Several institutional investors have recently added to or reduced their stakes in SMRT. Louisiana State Employees Retirement System raised its position in Stein Mart by 1.6% in the second quarter. Louisiana State Employees Retirement System now owns 13,100 shares of the company’s stock worth $101,000 after buying an additional 200 shares in the last quarter. Alliancebernstein L.P. raised its position in shares of Stein Mart by 32.4% in the second quarter. Alliancebernstein L.P. now owns 13,900 shares of the company’s stock worth $107,000 after buying an additional 3,400 shares during the period. BlackRock Advisors LLC raised its position in shares of Stein Mart by 9.9% in the second quarter. BlackRock Advisors LLC now owns 14,019 shares of the company’s stock worth $108,000 after buying an additional 1,260 shares during the period. Arizona State Retirement System raised its position in shares of Stein Mart by 3.5% in the first quarter. Arizona State Retirement System now owns 14,907 shares of the company’s stock worth $109,000 after buying an additional 500 shares during the period. Finally, American International Group Inc. raised its position in shares of Stein Mart by 3.7% in the second quarter. American International Group Inc. now owns 22,928 shares of the company’s stock worth $177,000 after buying an additional 815 shares during the period. 50.67% of the stock is currently owned by institutional investors.
About Stein Mart
Stein Mart, Inc is a national retailer offering the fashion merchandise, service and presentation of a department or specialty store. The Company offers apparel for women and men, as well as accessories, shoes and home fashions. The Company’s target customers are women over 45 years old. The Company operates approximately 280 stores in over 30 states and an Internet store.
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