Separately, Zacks Investment Research upgraded shares of Stein Mart from a sell rating to a hold rating in a research report on Friday, June 3rd. One analyst has rated the stock with a sell rating and four have given a hold rating to the company. Stein Mart currently has a consensus rating of Hold and a consensus target price of $7.50.
Shares of Stein Mart (NASDAQ:SMRT) traded down 1.43% during trading on Monday, hitting $7.59. 51,694 shares of the stock traded hands. The stock has a 50-day moving average of $8.13 and a 200 day moving average of $7.55. The company has a market cap of $355.99 million, a P/E ratio of 15.88 and a beta of 0.90. Stein Mart has a 1-year low of $5.61 and a 1-year high of $9.83.
Stein Mart (NASDAQ:SMRT) last posted its earnings results on Friday, August 19th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by $0.01. Stein Mart had a return on equity of 30.61% and a net margin of 1.63%. The firm earned $319 million during the quarter. During the same period last year, the firm posted $0.10 EPS. Stein Mart’s quarterly revenue was up 2.6% on a year-over-year basis. On average, equities research analysts predict that Stein Mart will post $0.57 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Thursday, September 29th will be given a dividend of $0.075 per share. The ex-dividend date of this dividend is Tuesday, September 27th. This represents a $0.30 annualized dividend and a yield of 3.95%. Stein Mart’s payout ratio is currently 63.83%.
A number of institutional investors have recently bought and sold shares of the stock. State Board of Administration of Florida Retirement System raised its position in Stein Mart by 12.5% in the second quarter. State Board of Administration of Florida Retirement System now owns 35,449 shares of the company’s stock valued at $274,000 after buying an additional 3,942 shares during the last quarter. California Public Employees Retirement System raised its position in shares of Stein Mart by 4.6% in the second quarter. California Public Employees Retirement System now owns 195,500 shares of the company’s stock worth $1,509,000 after buying an additional 8,600 shares in the last quarter. California State Teachers Retirement System raised its position in shares of Stein Mart by 5.0% in the second quarter. California State Teachers Retirement System now owns 65,304 shares of the company’s stock worth $504,000 after buying an additional 3,133 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Stein Mart by 3.1% in the second quarter. Bank of New York Mellon Corp now owns 542,647 shares of the company’s stock worth $4,189,000 after buying an additional 16,092 shares in the last quarter. Finally, Wedge Capital Management L L P NC raised its position 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 in the last quarter. 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.
Receive News & Ratings for Stein Mart Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Stein Mart Inc. and related companies with MarketBeat.com's FREE daily email newsletter.