PriceSmart (PSMT) Upgraded at BidaskClub

BidaskClub upgraded shares of PriceSmart (NASDAQ:PSMT) from a sell rating to a hold rating in a research note issued to investors on Tuesday.

A number of other analysts have also issued reports on PSMT. Zacks Investment Research raised PriceSmart from a strong sell rating to a hold rating in a research report on Tuesday, March 13th. Scotiabank reissued a sector perform rating and issued a $90.00 target price on shares of PriceSmart in a research report on Thursday, March 8th. Scotia Howard Weill reaffirmed a sector perform rating on shares of PriceSmart in a research report on Friday, January 5th. Finally, Howard Weil lowered PriceSmart from a sector outperform rating to a sector perform rating in a research report on Friday, January 5th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. PriceSmart has a consensus rating of Hold and an average target price of $92.50.

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Shares of PriceSmart (PSMT) opened at $82.35 on Tuesday. The stock has a market capitalization of $2,490.05, a P/E ratio of 28.40 and a beta of 1.30. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.39 and a quick ratio of 0.44. PriceSmart has a 12-month low of $77.50 and a 12-month high of $94.00.

PriceSmart (NASDAQ:PSMT) last announced its earnings results on Thursday, January 4th. The company reported $0.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.08). The firm had revenue of $767.10 million during the quarter, compared to analysts’ expectations of $764.67 million. PriceSmart had a net margin of 2.92% and a return on equity of 12.61%. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.82 EPS. equities research analysts expect that PriceSmart will post 3.2 EPS for the current year.

The business also recently disclosed a semiannual dividend, which will be paid on Friday, August 31st. Stockholders of record on Wednesday, August 15th will be given a dividend of $0.35 per share. This represents a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, August 14th. PriceSmart’s dividend payout ratio is currently 24.14%.

Several institutional investors have recently bought and sold shares of PSMT. First Trust Advisors LP increased its position in shares of PriceSmart by 28.5% during the third quarter. First Trust Advisors LP now owns 7,116 shares of the company’s stock worth $635,000 after acquiring an additional 1,580 shares during the period. Bank of New York Mellon Corp increased its position in shares of PriceSmart by 0.9% during the third quarter. Bank of New York Mellon Corp now owns 110,022 shares of the company’s stock worth $9,820,000 after acquiring an additional 972 shares during the period. Russell Investments Group Ltd. increased its position in shares of PriceSmart by 105.7% during the third quarter. Russell Investments Group Ltd. now owns 79,557 shares of the company’s stock worth $7,100,000 after acquiring an additional 40,877 shares during the period. D.A. Davidson & CO. increased its position in shares of PriceSmart by 12.6% during the third quarter. D.A. Davidson & CO. now owns 10,215 shares of the company’s stock worth $911,000 after acquiring an additional 1,140 shares during the period. Finally, American International Group Inc. increased its position in shares of PriceSmart by 8.1% during the third quarter. American International Group Inc. now owns 14,820 shares of the company’s stock worth $1,323,000 after acquiring an additional 1,109 shares during the period. 77.30% of the stock is currently owned by institutional investors and hedge funds.

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PriceSmart Company Profile

PriceSmart, Inc, through its subsidiaries, is engaged in the international operation of membership shopping in warehouse clubs. In addition, the Company operates distribution centers and offices in the United States. The Company’s segments include the United States, Central America, the Caribbean and Colombia.

Analyst Recommendations for PriceSmart (NASDAQ:PSMT)

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