PriceSmart (NASDAQ:PSMT) Issues Quarterly Earnings Results, Beats Estimates By $0.13 EPS

PriceSmart (NASDAQ:PSMT) issued its quarterly earnings results on Wednesday. The company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.42 by $0.13, Morningstar.com reports. The company had revenue of $788.56 million for the quarter, compared to the consensus estimate of $792.96 million. PriceSmart had a net margin of 2.23% and a return on equity of 11.19%. The firm’s revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.61 EPS.

Shares of NASDAQ:PSMT opened at $61.21 on Friday. The company has a market cap of $1.73 billion, a P/E ratio of 20.05 and a beta of 1.01. PriceSmart has a 12 month low of $48.06 and a 12 month high of $88.65. The firm’s 50-day moving average price is $51.66. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.28 and a quick ratio of 0.42.

Several equities analysts recently commented on PSMT shares. BidaskClub downgraded shares of Wave Life Sciences from a “sell” rating to a “strong sell” rating in a report on Saturday. Zacks Investment Research downgraded shares of IQIYI from a “hold” rating to a “sell” rating in a report on Friday, March 29th.

In related news, Director Sherry S. Bahrambeygui sold 20,000 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $57.16, for a total transaction of $1,143,200.00. Following the transaction, the director now directly owns 154,201 shares in the company, valued at approximately $8,814,129.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert E. Price sold 10,000 shares of the company’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $62.76, for a total transaction of $627,600.00. Following the transaction, the director now owns 80 shares in the company, valued at $5,020.80. The disclosure for this sale can be found here. Insiders have sold a total of 64,007 shares of company stock worth $3,673,796 over the last quarter. 27.10% of the stock is currently owned by insiders.

A number of hedge funds have recently modified their holdings of PSMT. First Trust Advisors LP grew its position in shares of PriceSmart by 137.9% in the first quarter. First Trust Advisors LP now owns 13,080 shares of the company’s stock valued at $770,000 after purchasing an additional 7,583 shares during the period. Marshall Wace LLP grew its position in shares of PriceSmart by 105.6% in the first quarter. Marshall Wace LLP now owns 13,737 shares of the company’s stock valued at $809,000 after purchasing an additional 7,057 shares during the period. AlphaCrest Capital Management LLC grew its position in shares of PriceSmart by 14.9% in the first quarter. AlphaCrest Capital Management LLC now owns 8,500 shares of the company’s stock valued at $500,000 after purchasing an additional 1,100 shares during the period. GAM Holding AG acquired a new stake in shares of PriceSmart in the first quarter valued at about $1,105,000. Finally, Ontario Teachers Pension Plan Board acquired a new stake in shares of PriceSmart in the first quarter valued at about $389,000. Institutional investors and hedge funds own 72.64% of the company’s stock.

PriceSmart Company Profile

PriceSmart, Inc owns and operates U.S. style membership shopping warehouse clubs in Central America, the Caribbean, and Colombia. Its warehouse clubs sells brand name and private label consumer goods to individuals and businesses. As of November 30, 2018, the company operated 41 warehouse clubs comprising 7 each in Colombia and Costa Rica; 5 in Panama; 4 each in Trinidad and Dominican Republic; 3 each in Guatemala and Honduras; 2 each in El Salvador and Nicaragua; and 1 each in Aruba, Barbados, Jamaica, and the United States Virgin Islands.

Further Reading: Are analyst ratings accurate?

Earnings History for PriceSmart (NASDAQ:PSMT)

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