Q3 2017 Earnings Forecast for Stein Mart Inc. (SMRT) Issued By Northcoast Research
Stein Mart Inc. (NASDAQ:SMRT) – Equities researchers at Northcoast Research cut their Q3 2017 earnings estimates for Stein Mart in a report released on Thursday. Northcoast Research analyst J. Stein now expects that the brokerage will post earnings per share of ($0.16) for the quarter, down from their previous forecast of ($0.03). Northcoast Research also issued estimates for Stein Mart’s FY2017 earnings at $0.33 EPS and Q3 2018 earnings at ($0.11) EPS.
Stein Mart (NASDAQ:SMRT) last posted its quarterly earnings data on Friday, August 19th. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.07 by $0.01. Stein Mart had a net margin of 1.63% and a return on equity of 30.61%. The business earned $319 million during the quarter. During the same period last year, the company earned $0.10 earnings per share. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year.
Several other research firms have also recently weighed in on SMRT. TheStreet upgraded Stein Mart from a “hold” rating to a “buy” rating in a report on Monday, August 15th. Zacks Investment Research cut Stein Mart from a “hold” rating to a “sell” rating in a report on Wednesday, August 24th. Sidoti cut Stein Mart from a “buy” rating to a “neutral” rating and cut their price objective for the company from $10.00 to $7.00 in a report on Thursday, September 29th. Finally, Johnson Rice lowered Stein Mart from a “buy” rating to a “hold” rating in a research report on Thursday, September 29th. One research analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $7.50.
Shares of Stein Mart (NASDAQ:SMRT) opened at 6.19 on Monday. The company has a market capitalization of $290.32 million, a PE ratio of 12.95 and a beta of 0.86. The stock has a 50 day moving average price of $7.83 and a 200 day moving average price of $7.52. Stein Mart has a 52-week low of $5.61 and a 52-week high of $9.27.
Hedge funds and other institutional investors have recently bought and sold shares of the company. 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 valued at $101,000 after buying an additional 200 shares during the period. Alliancebernstein L.P. raised its position in Stein Mart by 32.4% in the second quarter. Alliancebernstein L.P. now owns 13,900 shares of the company’s stock valued at $107,000 after buying an additional 3,400 shares during the period. BlackRock Advisors LLC raised its position in Stein Mart by 9.9% in the second quarter. BlackRock Advisors LLC now owns 14,019 shares of the company’s stock valued at $108,000 after buying an additional 1,260 shares during the period. Arizona State Retirement System raised its position in Stein Mart by 3.5% in the first quarter. Arizona State Retirement System now owns 14,907 shares of the company’s stock valued at $109,000 after buying an additional 500 shares during the period. Finally, American International Group Inc. raised its position in Stein Mart by 3.7% in the second quarter. American International Group Inc. now owns 22,928 shares of the company’s stock valued at $177,000 after buying an additional 815 shares during the period. 50.67% of the stock is currently owned by hedge funds and other institutional investors.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Thursday, September 29th will be given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 4.85%. The ex-dividend date of this dividend is Tuesday, September 27th. Stein Mart’s dividend payout ratio (DPR) is 63.83%.
Stein Mart Company Profile
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.
Receive News & Stock Ratings for Stein Mart Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Stein Mart Inc. and related stocks with our FREE daily email newsletter.