According to Zacks, “Stein Mart, Inc. operates retail store chain offering fashionable, current-season, primarily branded merchandise comparable in quality and presentation to that of traditional department and fine specialty stores at prices typically 25% to 60% below those regularly charged by such stores. The company is focused on assorting merchandise that features moderate to designer brand-name apparel for women, men and children, as well as accessories, gifts, linens, shoes and fragrances. “
Separately, TheStreet raised Stein Mart from a hold rating to a buy rating in a research note on Monday, August 15th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. Stein Mart has a consensus rating of Hold and an average target price of $7.50.
Shares of Stein Mart (NASDAQ:SMRT) opened at 7.83 on Friday. Stein Mart has a 12 month low of $5.61 and a 12 month high of $10.28. The stock has a 50 day moving average price of $8.17 and a 200-day moving average price of $7.56. The stock has a market cap of $367.24 million, a P/E ratio of 16.38 and a beta of 0.90.
Stein Mart (NASDAQ:SMRT) last issued its quarterly earnings results on Friday, August 19th. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by $0.01. The firm had revenue of $319 million for the quarter. Stein Mart had a net margin of 1.63% and a return on equity of 30.61%. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.10 earnings per share. On average, analysts forecast that Stein Mart will post $0.57 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Thursday, September 29th will be given a dividend of $0.075 per share. The ex-dividend date is Tuesday, September 27th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 3.83%. Stein Mart’s dividend payout ratio (DPR) is presently 63.83%.
Several large investors have recently made changes to their positions in the stock. Royce & Associates LP increased its stake in shares of Stein Mart by 0.7% in the first quarter. Royce & Associates LP now owns 5,726,822 shares of the company’s stock worth $41,978,000 after buying an additional 37,698 shares during the period. Wedge Capital Management L L P NC increased its stake in shares of Stein Mart by 5,393.2% in the second quarter. Wedge Capital Management L L P NC now owns 3,960,627 shares of the company’s stock worth $53,746,000 after buying an additional 3,888,527 shares during the period. BlackRock Fund Advisors increased its stake in shares of Stein Mart by 7.7% in the second quarter. BlackRock Fund Advisors now owns 2,046,357 shares of the company’s stock worth $15,798,000 after buying an additional 147,001 shares during the period. Paradigm Capital Management Inc. NY increased its stake in shares of Stein Mart by 9.6% in the second quarter. Paradigm Capital Management Inc. NY now owns 1,899,600 shares of the company’s stock worth $14,665,000 after buying an additional 166,292 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of Stein Mart by 12.0% in the second quarter. Vanguard Group Inc. now owns 1,340,356 shares of the company’s stock worth $10,348,000 after buying an additional 143,394 shares during the period. Institutional investors own 50.67% of the company’s stock.
About Stein Mart
Stein Mart, Inc is a national retailer offering the fashion merchandise, service and presentation of a department or specialty store. The Company offers apparel for women and men, as well as accessories, shoes and home fashions. The Company’s target customers are women over 45 years old. The Company operates approximately 280 stores in over 30 states and an Internet store.
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