PriceSmart (NASDAQ:PSMT) Releases Earnings Results, Misses Estimates By $0.04 EPS

PriceSmart (NASDAQ:PSMT) announced its quarterly earnings data on Wednesday. The company reported $1.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by ($0.04), FiscalAI reports. The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.43 billion. PriceSmart had a return on equity of 12.23% and a net margin of 2.82%.PriceSmart’s revenue was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.14 earnings per share.

PriceSmart Trading Down 1.5%

PriceSmart stock opened at $189.11 on Thursday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.29 and a quick ratio of 0.52. The company has a market capitalization of $5.84 billion, a price-to-earnings ratio of 37.30 and a beta of 0.76. PriceSmart has a one year low of $101.30 and a one year high of $199.84. The company’s fifty day moving average price is $174.18 and its two-hundred day moving average price is $155.88.

Insiders Place Their Bets

In other PriceSmart news, EVP Francisco Velasco sold 338 shares of the business’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $158.56, for a total value of $53,593.28. Following the completion of the sale, the executive vice president owned 75,659 shares of the company’s stock, valued at $11,996,491.04. The trade was a 0.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gordon H. Hanson sold 635 shares of the firm’s stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $157.60, for a total value of $100,076.00. Following the completion of the transaction, the director directly owned 8,149 shares in the company, valued at $1,284,282.40. The trade was a 7.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 3,232 shares of company stock valued at $504,198 over the last quarter. Insiders own 17.00% of the company’s stock.

Hedge Funds Weigh In On PriceSmart

Institutional investors have recently made changes to their positions in the business. Progeny 3 Inc. acquired a new position in shares of PriceSmart during the 3rd quarter worth about $27,825,000. Invesco Ltd. increased its position in PriceSmart by 54.7% in the 2nd quarter. Invesco Ltd. now owns 551,566 shares of the company’s stock worth $57,936,000 after buying an additional 194,980 shares during the period. Millennium Management LLC lifted its holdings in shares of PriceSmart by 5,150.6% during the third quarter. Millennium Management LLC now owns 114,936 shares of the company’s stock worth $13,929,000 after buying an additional 112,747 shares during the last quarter. Marshall Wace LLP boosted its position in shares of PriceSmart by 1,057.7% in the fourth quarter. Marshall Wace LLP now owns 82,096 shares of the company’s stock valued at $10,071,000 after acquiring an additional 75,005 shares during the period. Finally, Pertento Partners LLP boosted its position in shares of PriceSmart by 17.3% in the fourth quarter. Pertento Partners LLP now owns 488,387 shares of the company’s stock valued at $59,910,000 after acquiring an additional 71,879 shares during the period. 80.46% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded PriceSmart from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, May 29th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, PriceSmart presently has an average rating of “Buy”.

About PriceSmart

PriceSmart, Inc (NASDAQ: PSMT) is a U.S.-based retailer specializing in membership warehouse clubs. Founded in 1993, the company operates under a business model that offers bulk quantities of goods at discounted prices to individuals and businesses that purchase annual memberships. PriceSmart’s value proposition centers on low-cost operations, high-volume purchasing, and a no-frills shopping environment designed to pass savings directly to its members.

The company’s product assortment covers a broad range of merchandise categories, including groceries and fresh produce, household essentials, electronics, appliances, office supplies, furniture, and health and beauty items.