PriceSmart (NASDAQ:PSMT) Posts Earnings Results, Misses Estimates By $0.22 EPS

PriceSmart (NASDAQ:PSMT) announced its earnings results on Wednesday. The company reported $1.21 EPS for the quarter, missing the consensus estimate of $1.43 by ($0.22), Zacks reports. The business had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.24 billion. PriceSmart had a net margin of 2.83% and a return on equity of 12.63%. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.24 EPS.

PriceSmart Stock Up 1.3 %

PSMT stock traded up $1.23 during trading on Wednesday, reaching $93.45. The stock had a trading volume of 384,837 shares, compared to its average volume of 195,494. The company’s 50 day moving average is $91.18 and its two-hundred day moving average is $88.58. The company has a quick ratio of 0.45, a current ratio of 1.22 and a debt-to-equity ratio of 0.08. PriceSmart has a one year low of $72.30 and a one year high of $99.23. The company has a market capitalization of $2.87 billion, a price-to-earnings ratio of 20.45 and a beta of 0.86.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at PriceSmart

In other PriceSmart news, EVP Paul Kovaleski sold 3,235 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $89.96, for a total transaction of $291,020.60. Following the sale, the executive vice president now directly owns 44,309 shares of the company’s stock, valued at $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 is available through this link. Also, CFO Michael Mccleary sold 4,000 shares of PriceSmart stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $89.62, for a total transaction of $358,480.00. Following the completion of the transaction, the chief financial officer now owns 62,141 shares of the company’s stock, valued at $5,569,076.42. The trade was a 6.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,290 shares of company stock worth $1,476,009 in the last quarter. 17.10% of the stock is currently owned by company insiders.

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.