PriceSmart (NASDAQ:PSMT) Releases Earnings Results, Beats Estimates By $0.07 EPS

PriceSmart (NASDAQ:PSMT) issued its earnings results on Wednesday. The company reported $1.08 EPS for the quarter, topping the consensus estimate of $1.01 by $0.07, Briefing.com reports. The firm had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.21 billion. PriceSmart had a return on equity of 11.89% and a net margin of 2.60%. PriceSmart’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period last year, the business earned $1.02 earnings per share.

PriceSmart Stock Up 2.5 %

Shares of NASDAQ:PSMT opened at $80.23 on Friday. The company’s fifty day moving average is $82.25 and its 200-day moving average is $80.56. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.49 and a current ratio of 1.20. PriceSmart has a 52 week low of $61.82 and a 52 week high of $87.99. The company has a market capitalization of $2.46 billion, a PE ratio of 19.47 and a beta of 0.85.

Insider Buying and Selling

In other PriceSmart news, Director Gordon H. Hanson sold 937 shares of the business’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $79.86, for a total value of $74,828.82. Following the transaction, the director now directly owns 7,969 shares in the company, valued at $636,404.34. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Sherry S. Bahrambeygui sold 1,500 shares of the stock in a transaction on Friday, April 26th. The stock was sold at an average price of $80.52, for a total transaction of $120,780.00. Following the sale, the director now owns 98,508 shares in the company, valued at $7,931,864.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gordon H. Hanson sold 937 shares of PriceSmart stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $79.86, for a total value of $74,828.82. Following the completion of the transaction, the director now directly owns 7,969 shares of the company’s stock, valued at $636,404.34. The disclosure for this sale can be found here. Insiders sold 26,125 shares of company stock worth $2,175,282 in the last quarter. 18.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PriceSmart

Hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its stake in shares of PriceSmart by 76.4% in the second quarter. GAMMA Investing LLC now owns 418 shares of the company’s stock worth $34,000 after acquiring an additional 181 shares during the last quarter. Covestor Ltd increased its holdings in shares of PriceSmart by 237.4% in the first quarter. Covestor Ltd now owns 442 shares of the company’s stock valued at $38,000 after purchasing an additional 311 shares in the last quarter. TFO Wealth Partners LLC raised its position in PriceSmart by 30,300.0% in the 4th quarter. TFO Wealth Partners LLC now owns 912 shares of the company’s stock worth $69,000 after purchasing an additional 909 shares during the last quarter. CWM LLC raised its position in PriceSmart by 331.4% in the 4th quarter. CWM LLC now owns 1,044 shares of the company’s stock worth $79,000 after purchasing an additional 802 shares during the last quarter. Finally, SYSTM Wealth Solutions LLC acquired a new position in PriceSmart during the 1st quarter worth $85,000. Institutional investors own 80.46% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. StockNews.com lowered shares of PriceSmart from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Jefferies Financial Group upped their price objective on PriceSmart from $82.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th.

PriceSmart Company Profile

PriceSmart, Inc owns and operates U.S.-style membership shopping warehouse clubs in the United States, Central America, the Caribbean, and Colombia. The company provides basic and private label consumer products under the Member's Selection brand, including groceries, cleaning supplies, health and beauty aids, meat, produce, deli, seafood, and poultry.