PriceSmart, Inc. to Issue Semiannual Dividend of $0.35 (PSMT)
PriceSmart, Inc. (NASDAQ:PSMT) declared a semiannual dividend on Thursday, February 2nd, Wall Street Journal reports. Stockholders of record on Tuesday, August 15th will be given a dividend of 0.35 per share on Thursday, August 31st. This represents a dividend yield of 0.82%. The ex-dividend date is Friday, August 11th.
PriceSmart (PSMT) opened at 82.25 on Thursday. The stock has a 50 day moving average price of $84.12 and a 200 day moving average price of $87.31. The company has a market cap of $2.47 billion, a P/E ratio of 26.89 and a beta of 1.24. PriceSmart has a 1-year low of $78.00 and a 1-year high of $94.40.
PriceSmart (NASDAQ:PSMT) last issued its quarterly earnings data on Wednesday, July 5th. The company reported $0.62 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by $0.05. The company had revenue of $730.30 million during the quarter, compared to analyst estimates of $734.80 million. PriceSmart had a net margin of 3.13% and a return on equity of 14.05%. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period last year, the firm earned $0.55 EPS. On average, equities research analysts anticipate that PriceSmart will post $3.08 EPS for the current fiscal year.
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Several brokerages have recently issued reports on PSMT. BidaskClub cut PriceSmart from a “hold” rating to a “sell” rating in a report on Sunday, July 16th. Roth Capital set a $102.00 price objective on PriceSmart and gave the company a “buy” rating in a report on Thursday, May 18th. Zacks Investment Research cut PriceSmart from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 12th. Finally, TheStreet cut PriceSmart from a “b” rating to a “c+” rating in a report on Thursday, July 13th.
In related news, Director Sherry S. Bahrambeygui sold 3,561 shares of the company’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $84.88, for a total value of $302,257.68. Following the completion of the transaction, the director now owns 125,374 shares of the company’s stock, valued at approximately $10,641,745.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 28.00% of the company’s stock.
PriceSmart Company Profile
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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