Today: The PriceSmart Inc. (PSMT) Posts Quarterly Earnings Results, Beats Estimates By $0.09 EPS

The PriceSmart Inc. (PSMT) Posts Quarterly  Earnings Results, Beats Estimates By $0.09 EPS

PriceSmart Inc. (NASDAQ:PSMT) announced its earnings results on Thursday. The company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.09. The business had revenue of $711.05 million for the quarter, compared to analyst estimates of $708.17 million. PriceSmart had a net margin of 3.05% and a return on equity of 14.61%. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period last year, the firm posted $0.75 earnings per share.

PriceSmart (NASDAQ:PSMT) opened at 89.10 on Monday. The company has a 50-day moving average of $83.87 and a 200-day moving average of $84.87. PriceSmart has a 52-week low of $68.51 and a 52-week high of $98.49. The stock has a market capitalization of $2.71 billion, a price-to-earnings ratio of 30.51 and a beta of 1.50.

Several institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its position in shares of PriceSmart by 1.4% in the first quarter. BlackRock Inc. now owns 31,743 shares of the company’s stock worth $2,685,000 after buying an additional 431 shares during the last quarter. BlackRock Group LTD raised its position in shares of PriceSmart by 12.5% in the first quarter. BlackRock Group LTD now owns 96,281 shares of the company’s stock worth $8,144,000 after buying an additional 10,703 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its position in shares of PriceSmart by 2.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 487,339 shares of the company’s stock worth $41,219,000 after buying an additional 10,942 shares during the last quarter. M&T Bank Corp raised its position in shares of PriceSmart by 0.4% in the first quarter. M&T Bank Corp now owns 9,829 shares of the company’s stock worth $831,000 after buying an additional 37 shares during the last quarter. Finally, State Street Corp raised its position in shares of PriceSmart by 1.8% in the first quarter. State Street Corp now owns 407,286 shares of the company’s stock worth $34,450,000 after buying an additional 7,092 shares during the last quarter. 73.69% of the stock is currently owned by institutional investors.

A number of equities analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of PriceSmart from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 13th. Roth Capital reiterated a “buy” rating on shares of PriceSmart in a research report on Monday, July 11th. One analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. PriceSmart has an average rating of “Buy” and an average target price of $69.33.

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