PriceSmart (NASDAQ:PSMT) Releases Earnings Results, Beats Expectations By $0.22 EPS


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PriceSmart (NASDAQ:PSMT) issued its earnings results on Wednesday. The company reported $0.90 EPS for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.22, MarketWatch Earnings reports. PriceSmart had a net margin of 2.37% and a return on equity of 9.67%. The business had revenue of $877.43 million during the quarter, compared to analysts’ expectations of $837.37 million. During the same period in the prior year, the business earned $0.64 earnings per share. The company’s quarterly revenue was up 8.1% compared to the same quarter last year.

Shares of NASDAQ PSMT traded up $1.97 during midday trading on Friday, hitting $99.26. The company’s stock had a trading volume of 5,219 shares, compared to its average volume of 147,012. The business’s fifty day simple moving average is $87.04 and its two-hundred day simple moving average is $72.12. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.23 and a quick ratio of 0.68. PriceSmart has a 1 year low of $41.15 and a 1 year high of $97.96. The firm has a market capitalization of $3.05 billion, a price-to-earnings ratio of 38.91 and a beta of 0.90.

A number of equities research analysts recently issued reports on PSMT shares. TheStreet raised shares of PriceSmart from a “c+” rating to a “b-” rating in a report on Thursday, October 22nd. BidaskClub raised shares of PriceSmart from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, December 15th.

In related news, major shareholder Philanthropies Foundatio Price sold 8,679 shares of the firm’s stock in a transaction that occurred on Thursday, December 10th. The shares were sold at an average price of $86.85, for a total value of $753,771.15. Following the sale, the insider now owns 4,157,490 shares of the company’s stock, valued at $361,078,006.50. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Jeffrey Fisher sold 7,100 shares of the firm’s stock in a transaction that occurred on Tuesday, November 10th. The shares were sold at an average price of $75.00, for a total transaction of $532,500.00. Following the completion of the sale, the director now directly owns 1,699 shares in the company, valued at approximately $127,425. The disclosure for this sale can be found here. In the last three months, insiders sold 55,945 shares of company stock valued at $4,922,988. Insiders own 27.10% of the company’s stock.

About PriceSmart

PriceSmart, Inc owns and operates U.S. style membership shopping warehouse clubs in Central America, the Caribbean, and Colombia. Its warehouse clubs sell brand name and private label consumer products and provide services, such as optical and tires to individuals and businesses. As of December 04, 2020, the company operated 47 warehouse clubs.

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Earnings History for PriceSmart (NASDAQ:PSMT)

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