Stein Mart Inc. (NASDAQ:SMRT) issued its earnings results on Thursday. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.15) by $0.09. The firm earned $299.50 million during the quarter, compared to analysts’ expectations of $304.14 million. Stein Mart had a return on equity of 30.61% and a net margin of 1.63%. The company’s quarterly revenue was down .4% compared to the same quarter last year. During the same period last year, the business posted $0.01 earnings per share.

Shares of Stein Mart (NASDAQ:SMRT) opened at 6.81 on Thursday. The company has a market capitalization of $319.40 billion, a price-to-earnings ratio of 12.16 and a beta of 0.76. The company’s 50 day moving average is $6.21 and its 200 day moving average is $7.29. Stein Mart has a one year low of $5.61 and a one year high of $9.23.

Earnings History for Stein Mart (NASDAQ:SMRT)

Several brokerages recently weighed in on SMRT. Credit Suisse Group AG set a $8.00 target price on Stein Mart and gave the stock a “hold” rating in a research report on Saturday, October 1st. Zacks Investment Research raised Stein Mart from a “sell” rating to a “hold” rating in a research report on Friday, September 16th. Sidoti lowered Stein Mart from a “buy” rating to a “neutral” rating and cut their target price for the stock from $10.00 to $7.00 in a research report on Thursday, September 29th. Johnson Rice lowered Stein Mart from a “buy” rating to a “hold” rating in a research report on Thursday, September 29th. Finally, TheStreet raised Stein Mart from a “hold” rating to a “buy” rating in a research report on Monday, August 15th. One analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. Stein Mart has an average rating of “Hold” and a consensus price target of $7.50.

A number of large investors have recently made changes to their positions in SMRT. BlackRock Advisors LLC boosted its stake in shares of Stein Mart by 12.1% in the third quarter. BlackRock Advisors LLC now owns 15,722 shares of the company’s stock worth $100,000 after buying an additional 1,703 shares during the period. Louisiana State Employees Retirement System increased 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 during the period. Arizona State Retirement System increased its position in Stein Mart by 3.9% in the third quarter. Arizona State Retirement System now owns 16,007 shares of the company’s stock worth $102,000 after buying an additional 600 shares during the period. Alliancebernstein L.P. increased 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 worth $107,000 after buying an additional 3,400 shares during the period. Finally, First Trust Advisors LP increased its position in Stein Mart by 9.8% in the third quarter. First Trust Advisors LP now owns 16,826 shares of the company’s stock worth $107,000 after buying an additional 1,507 shares during the period. Hedge funds and other institutional investors own 51.35% of the company’s stock.

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.

5 Day Chart for NASDAQ:SMRT

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