PriceSmart (NASDAQ:PSMT) Releases Quarterly Earnings Results

PriceSmart (NASDAQ:PSMT) released its quarterly earnings results on Wednesday. The company reported $1.21 EPS for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.22), Zacks reports. PriceSmart had a return on equity of 12.63% and a net margin of 2.83%. The business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same period in the prior year, the business earned $1.24 EPS. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year.

PriceSmart Stock Performance

PSMT opened at $93.45 on Thursday. The business’s 50-day simple moving average is $91.18 and its 200 day simple moving average is $88.58. PriceSmart has a 52-week low of $72.30 and a 52-week high of $99.23. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.45 and a current ratio of 1.22. The firm has a market capitalization of $2.87 billion, a PE ratio of 20.45 and a beta of 0.86.

Insider Transactions at PriceSmart

In other news, EVP Paul Kovaleski sold 3,235 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $89.96, for a total value of $291,020.60. Following the transaction, the executive vice president now owns 44,309 shares of the company’s stock, valued at approximately $3,986,037.64. This represents a 6.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP David R. Price sold 2,750 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $92.24, for a total value of $253,660.00. Following the transaction, the executive vice president now owns 48,844 shares in the company, valued at $4,505,370.56. The trade was a 5.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,463 shares of company stock worth $1,400,727 in the last 90 days. Corporate insiders own 17.10% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of PriceSmart from a “hold” rating to a “buy” rating in a report on Saturday, November 30th.

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.