PriceSmart (NASDAQ:PSMT) Releases Earnings Results, Misses Expectations By $0.04 EPS

PriceSmart (NASDAQ:PSMT) issued its quarterly earnings results on Wednesday. The company reported $1.28 EPS for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.04), FiscalAI reports. PriceSmart had a return on equity of 12.39% and a net margin of 2.82%.The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter last year, the business posted $1.14 earnings per share. The business’s revenue was up 12.5% compared to the same quarter last year.

PriceSmart Trading Down 0.4%

Shares of PSMT opened at $188.26 on Friday. PriceSmart has a fifty-two week low of $101.30 and a fifty-two week high of $199.84. The business has a 50-day moving average of $174.83 and a 200 day moving average of $156.33. The firm has a market cap of $5.82 billion, a P/E ratio of 36.13 and a beta of 0.76. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.52 and a current ratio of 1.29.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded shares of PriceSmart from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, May 29th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy”.

Insiders Place Their Bets

In other PriceSmart news, Director Edgar Zurcher sold 2,259 shares of the firm’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $155.17, for a total value of $350,529.03. Following the sale, the director owned 8,151 shares of the company’s stock, valued at $1,264,790.67. This trade represents a 21.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Gordon H. Hanson sold 635 shares of the business’s stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $157.60, for a total value of $100,076.00. Following the transaction, the director directly owned 8,149 shares of the company’s stock, valued at $1,284,282.40. The trade was a 7.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 3,232 shares of company stock worth $504,198 over the last quarter. 17.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On PriceSmart

Hedge funds have recently bought and sold shares of the stock. Corient Private Wealth LLC bought a new position in PriceSmart in the fourth quarter valued at $251,000. T. Rowe Price Investment Management Inc. boosted its holdings in shares of PriceSmart by 2.0% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 170,686 shares of the company’s stock worth $20,939,000 after purchasing an additional 3,330 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its position in shares of PriceSmart by 37.5% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 2,447 shares of the company’s stock valued at $300,000 after purchasing an additional 668 shares during the last quarter. Susquehanna Portfolio Strategies LLC increased its position in shares of PriceSmart by 258.9% during the 4th quarter. Susquehanna Portfolio Strategies LLC now owns 19,195 shares of the company’s stock valued at $2,355,000 after purchasing an additional 13,846 shares during the last quarter. Finally, Man Group plc increased its position in shares of PriceSmart by 92.5% during the 4th quarter. Man Group plc now owns 32,250 shares of the company’s stock valued at $3,956,000 after purchasing an additional 15,499 shares during the last quarter. 80.46% of the stock is currently owned by institutional investors.

PriceSmart Company Profile

PriceSmart, Inc (NASDAQ: PSMT) is a U.S.-based retailer specializing in membership warehouse clubs. Founded in 1993, the company operates under a business model that offers bulk quantities of goods at discounted prices to individuals and businesses that purchase annual memberships. PriceSmart’s value proposition centers on low-cost operations, high-volume purchasing, and a no-frills shopping environment designed to pass savings directly to its members.

The company’s product assortment covers a broad range of merchandise categories, including groceries and fresh produce, household essentials, electronics, appliances, office supplies, furniture, and health and beauty items.