Zacks: Brokerages Expect PriceSmart, Inc. (PSMT) Will Post Earnings of $0.69 Per Share

Brokerages expect PriceSmart, Inc. (NASDAQ:PSMT) to report $0.69 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have provided estimates for PriceSmart’s earnings. PriceSmart reported earnings of $0.62 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 11.3%. The firm is scheduled to report its next quarterly earnings report on Wednesday, July 4th.

According to Zacks, analysts expect that PriceSmart will report full-year earnings of $3.20 per share for the current financial year. For the next fiscal year, analysts anticipate that the firm will post earnings of $3.67 per share. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that cover PriceSmart.

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PriceSmart (NASDAQ:PSMT) last released its quarterly earnings data on Thursday, April 5th. The company reported $1.04 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.30. PriceSmart had a return on equity of 12.29% and a net margin of 2.45%. The business had revenue of $839.56 million for the quarter, compared to analyst estimates of $832.43 million. During the same quarter in the prior year, the firm posted $0.90 EPS.

Several equities research analysts have commented on PSMT shares. Zacks Investment Research upgraded PriceSmart from a “hold” rating to a “buy” rating and set a $92.00 price objective on the stock in a research report on Saturday, January 13th. BidaskClub upgraded PriceSmart from a “hold” rating to a “buy” rating in a research report on Tuesday, March 27th. Scotiabank lowered PriceSmart to a “hold” rating and set a $90.00 price objective on the stock. in a research report on Friday, January 5th. ValuEngine upgraded PriceSmart from a “sell” rating to a “hold” rating in a research report on Friday, March 23rd. Finally, Ifs Securities raised PriceSmart from a “market perform” rating to an “outperform” rating in a research note on Friday, December 29th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $92.50.

PriceSmart stock traded up $0.50 during mid-day trading on Thursday, hitting $90.65. The company had a trading volume of 28,225 shares, compared to its average volume of 188,755. The company has a current ratio of 1.42, a quick ratio of 0.54 and a debt-to-equity ratio of 0.11. PriceSmart has a 12-month low of $77.50 and a 12-month high of $93.55. The firm has a market cap of $2,705.73, a PE ratio of 30.78 and a beta of 1.21.

The firm also recently announced a semiannual dividend, which will be paid on Friday, August 31st. Stockholders of record on Wednesday, August 15th will be paid a dividend of $0.35 per share. This represents a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, August 14th. PriceSmart’s payout ratio is 23.49%.

In related news, COO William J. Naylon sold 3,975 shares of the stock in a transaction on Friday, April 13th. The stock was sold at an average price of $88.91, for a total value of $353,417.25. Following the completion of the transaction, the chief operating officer now directly owns 37,898 shares of the company’s stock, valued at approximately $3,369,511.18. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP John D. Hildebrandt sold 517 shares of the stock in a transaction on Tuesday, April 10th. The shares were sold at an average price of $87.68, for a total value of $45,330.56. Following the completion of the transaction, the executive vice president now directly owns 16,209 shares of the company’s stock, valued at $1,421,205.12. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,492 shares of company stock valued at $1,721,748. Corporate insiders own 28.00% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC purchased a new stake in PriceSmart in the 4th quarter valued at $186,000. Guggenheim Capital LLC purchased a new position in shares of PriceSmart during the 4th quarter worth $203,000. Ellington Management Group LLC purchased a new position in shares of PriceSmart during the 4th quarter worth $232,000. Xact Kapitalforvaltning AB purchased a new position in shares of PriceSmart during the 4th quarter worth $246,000. Finally, Millennium Management LLC purchased a new position in shares of PriceSmart during the 4th quarter worth $337,000. 77.97% of the stock is owned by hedge funds and other institutional investors.

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About PriceSmart

PriceSmart, Inc owns and operates the U.S.-style membership shopping warehouse clubs in Latin America and the Caribbean. The company's warehouse clubs offer brand name and private label consumer goods to individuals and businesses. As of October 26, 2017, it operated 40 warehouse clubs comprising 7 each in Colombia and Costa Rica; 5 in Panama; 4 in Trinidad; 3 each in Guatemala, Honduras, and the Dominican Republic; 2 in El Salvador and Nicaragua; and 1 each in Aruba, Barbados, Jamaica, and the United States Virgin Islands.

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