Roth Capital Equities Analysts Decrease Earnings Estimates for PriceSmart Inc. (PSMT)
PriceSmart Inc. (NASDAQ:PSMT) – Equities researchers at Roth Capital dropped their FY2016 earnings per share (EPS) estimates for shares of PriceSmart in a report released on Monday. Roth Capital analyst D. King now expects that the brokerage will post earnings per share of $2.83 for the year, down from their prior forecast of $2.85. Roth Capital has a “Buy” rating and a $95.00 price target on the stock. Roth Capital also issued estimates for PriceSmart’s Q4 2016 earnings at $0.65 EPS, Q1 2017 earnings at $0.73 EPS, Q3 2017 earnings at $0.66 EPS, Q4 2017 earnings at $0.72 EPS and FY2017 earnings at $3.00 EPS.
Separately, Zacks Investment Research raised PriceSmart from a “sell” rating to a “hold” rating in a research note on Tuesday, September 13th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. PriceSmart has an average rating of “Buy” and an average target price of $69.33.
PriceSmart (NASDAQ:PSMT) traded up 0.70% during midday trading on Wednesday, hitting $86.07. 51,994 shares of the stock traded hands. The stock has a market capitalization of $2.57 billion, a PE ratio of 29.40 and a beta of 1.50. The firm’s 50 day moving average is $82.97 and its 200-day moving average is $84.59. PriceSmart has a 12-month low of $68.51 and a 12-month high of $98.49.
Institutional investors have recently modified their holdings of the stock. Bank of Montreal Can purchased a new position in shares of PriceSmart during the second quarter worth $60,005,000. Emerald Acquisition Ltd. purchased a new position in shares of PriceSmart during the second quarter worth $16,624,000. Genesis Asset Managers LLP purchased a new position in shares of PriceSmart during the third quarter worth $13,781,000. Renaissance Technologies LLC raised its position in shares of PriceSmart by 105.5% in the first quarter. Renaissance Technologies LLC now owns 279,900 shares of the company’s stock worth $23,674,000 after buying an additional 143,700 shares during the last quarter. Finally, Franklin Resources Inc. purchased a new position in shares of PriceSmart during the second quarter worth $6,220,000. 72.69% of the stock is currently owned by hedge funds and other institutional investors.
PriceSmart Company Profile
PriceSmart, Inc (PriceSmart) business consists primarily of international membership shopping warehouse clubs similar to warehouse clubs in the United States. The Company owns and operates United States-style membership shopping warehouse clubs through wholly owned subsidiaries operating in Latin America and the Caribbean using the trade name PriceSmart.
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