PriceSmart (NASDAQ:PSMT) Posts Quarterly Earnings Results

PriceSmart (NASDAQ:PSMT) issued its quarterly earnings data on Wednesday. The company reported $1.21 earnings per share for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.22), Zacks reports. The firm had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.24 billion. PriceSmart had a net margin of 2.83% and a return on equity of 12.63%. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.24 EPS.

PriceSmart Stock Up 1.3 %

PSMT traded up $1.23 on Wednesday, hitting $93.45. The company had a trading volume of 398,869 shares, compared to its average volume of 213,535. The stock has a fifty day moving average price of $91.18 and a 200-day moving average price of $88.58. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.45 and a current ratio of 1.22. PriceSmart has a 12-month low of $72.30 and a 12-month high of $99.23. The stock has a market capitalization of $2.87 billion, a price-to-earnings ratio of 20.45 and a beta of 0.86.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of PriceSmart from a “hold” rating to a “buy” rating in a research note on Saturday, November 30th.

Insider Buying and Selling

In other PriceSmart news, CFO Michael Mccleary sold 4,000 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $89.62, for a total transaction of $358,480.00. Following the sale, the chief financial officer now directly owns 62,141 shares of the company’s stock, valued at approximately $5,569,076.42. This trade represents a 6.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeffrey Fisher sold 5,478 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $90.83, for a total transaction of $497,566.74. Following the sale, the director now directly owns 21,646 shares in the company, valued at $1,966,106.18. This trade represents a 20.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,290 shares of company stock worth $1,476,009 in the last ninety days. 17.10% of the stock is owned by insiders.

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.