Other equities analysts also recently issued research reports about the company. TheStreet upgraded Stein Mart from a hold rating to a buy rating in a report on Monday, August 15th. Zacks Investment Research upgraded Stein Mart from a sell rating to a hold rating in a report on Wednesday, July 20th. Finally, Sidoti downgraded Stein Mart from a buy rating to a neutral rating and decreased their price objective for the stock from $10.00 to $7.00 in a report on Thursday, September 29th. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. The company currently has an average rating of Hold and a consensus price target of $7.50.
Stein Mart (NASDAQ:SMRT) opened at 6.19 on Thursday. The stock has a market capitalization of $290.32 million, a P/E ratio of 12.95 and a beta of 0.86. Stein Mart has a one year low of $5.61 and a one year high of $9.27. The company has a 50 day moving average of $7.83 and a 200-day moving average of $7.52.
Stein Mart (NASDAQ:SMRT) last announced its earnings results on Friday, August 19th. The company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by $0.01. The business 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 firm’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.10 EPS. Equities research analysts predict that Stein Mart will post $0.38 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Thursday, September 29th will be issued a dividend of $0.075 per share. The ex-dividend date is Tuesday, September 27th. This represents a $0.30 annualized dividend and a dividend yield of 4.85%. Stein Mart’s payout ratio is presently 63.83%.
Several institutional investors have recently modified their holdings of SMRT. Louisiana State Employees Retirement System increased its position in shares of Stein Mart by 1.6% in the second quarter. Louisiana State Employees Retirement System now owns 13,100 shares of the company’s stock valued at $101,000 after buying an additional 200 shares during the last quarter. Alliancebernstein L.P. increased its position in shares of Stein Mart by 32.4% in the second quarter. Alliancebernstein L.P. now owns 13,900 shares of the company’s stock valued at $107,000 after buying an additional 3,400 shares during the last quarter. BlackRock Advisors LLC increased its position in shares of Stein Mart by 9.9% in the second quarter. BlackRock Advisors LLC now owns 14,019 shares of the company’s stock valued at $108,000 after buying an additional 1,260 shares during the last quarter. Arizona State Retirement System increased its position in shares of Stein Mart by 3.5% in the first quarter. Arizona State Retirement System now owns 14,907 shares of the company’s stock valued at $109,000 after buying an additional 500 shares during the last quarter. Finally, American International Group Inc. increased its position in shares of Stein Mart by 3.7% in the second quarter. American International Group Inc. now owns 22,928 shares of the company’s stock valued at $177,000 after buying an additional 815 shares during the last quarter. Hedge funds and other 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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