PriceSmart (NASDAQ:PSMT) Posts Quarterly Earnings Results, Beats Estimates By $0.07 EPS

PriceSmart (NASDAQ:PSMT) announced its quarterly earnings data on Tuesday. The company reported $1.31 EPS for the quarter, beating the consensus estimate of $1.24 by $0.07, Briefing.com reports. PriceSmart had a return on equity of 11.92% and a net margin of 2.53%. The business had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the previous year, the business earned $1.25 earnings per share. The business’s revenue was up 13.1% on a year-over-year basis.

PriceSmart Trading Down 0.5 %

Shares of NASDAQ PSMT opened at $83.09 on Wednesday. The business’s 50 day moving average is $81.39 and its two-hundred day moving average is $75.52. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.25 and a quick ratio of 0.50. PriceSmart has a 1-year low of $61.82 and a 1-year high of $84.93. The stock has a market capitalization of $2.54 billion, a P/E ratio of 22.52 and a beta of 0.92.

PriceSmart Dividend Announcement

The business also recently disclosed a semi-annual dividend, which will be paid on Friday, August 30th. Shareholders of record on Thursday, August 15th will be paid a dividend of $0.58 per share. The ex-dividend date is Wednesday, August 14th. This represents a yield of 1.5%. PriceSmart’s payout ratio is currently 31.44%.

Analyst Upgrades and Downgrades

PSMT has been the topic of several research reports. TheStreet raised PriceSmart from a “c+” rating to a “b-” rating in a report on Tuesday, January 30th. StockNews.com raised PriceSmart from a “buy” rating to a “strong-buy” rating in a report on Friday, April 5th.

Institutional Investors Weigh In On PriceSmart

Large investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. grew its stake in shares of PriceSmart by 14.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 198,989 shares of the company’s stock valued at $15,079,000 after buying an additional 25,831 shares during the last quarter. Townsquare Capital LLC grew its stake in shares of PriceSmart by 1.0% during the fourth quarter. Townsquare Capital LLC now owns 13,063 shares of the company’s stock valued at $990,000 after buying an additional 131 shares during the last quarter. Barclays PLC grew its stake in shares of PriceSmart by 342.1% during the fourth quarter. Barclays PLC now owns 58,388 shares of the company’s stock valued at $4,425,000 after buying an additional 45,180 shares during the last quarter. Perpetual Ltd grew its stake in shares of PriceSmart by 14.5% during the fourth quarter. Perpetual Ltd now owns 116,541 shares of the company’s stock valued at $8,831,000 after buying an additional 14,802 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of PriceSmart by 4.5% during the fourth quarter. Vanguard Group Inc. now owns 3,319,255 shares of the company’s stock valued at $251,533,000 after buying an additional 141,920 shares during the last quarter. 80.46% of the stock is owned by institutional investors.

About PriceSmart

PriceSmart, Inc owns and operates U.S.-style membership shopping warehouse clubs in the United States, Central America, the Caribbean, and Colombia. The company provides basic and private label consumer products under the Member's Selection brand, including groceries, cleaning supplies, health and beauty aids, meat, produce, deli, seafood, and poultry.