Smiths News (LON:SNWS) Trading Down 9.5% – What’s Next?

Smiths News plc (LON:SNWS)’s stock price dropped 9.5% during trading on Thursday . The stock traded as low as GBX 59.40 ($0.73) and last traded at GBX 61.20 ($0.75). Approximately 1,615,870 shares were traded during trading, an increase of 37% from the average daily volume of 1,183,762 shares. The stock had previously closed at GBX 67.60 ($0.83).

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group reiterated a “buy” rating and issued a GBX 95 ($1.16) target price on shares of Smiths News in a research note on Tuesday, November 5th.

Smiths News Stock Performance

The stock has a 50-day moving average price of GBX 63.07 and a 200-day moving average price of GBX 59.83. The stock has a market cap of £138.46 million, a P/E ratio of 648.89, a P/E/G ratio of 0.29 and a beta of 0.83.

Smiths News Increases Dividend

The business also recently declared a dividend, which will be paid on Thursday, February 6th. Stockholders of record on Thursday, January 9th will be issued a GBX 5.40 ($0.07) dividend. This is a positive change from Smiths News’s previous dividend of $1.75. The ex-dividend date of this dividend is Thursday, January 9th. This represents a dividend yield of 9.47%. Smiths News’s dividend payout ratio is presently 5,555.56%.

Insider Activity

In other Smiths News news, insider Deborah Rabey bought 20,663 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were bought at an average price of GBX 63 ($0.77) per share, for a total transaction of £13,017.69 ($15,894.62). Also, insider Jonathan Bunting sold 1,183,423 shares of the business’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of GBX 61 ($0.74), for a total transaction of £721,888.03 ($881,426.17). In the last quarter, insiders have sold 1,993,578 shares of company stock worth $121,608,258. 13.12% of the stock is currently owned by corporate insiders.

About Smiths News

In 1792 we started delivering the nation’s newspapers. Today, we’re proud to be the UK’s largest wholesaler of newspapers and magazines, serving 24,000 retailers from superstores to corner shops.

Service and efficiency put us at the forefront of our industry and with 55% market share we are the leading player in one of the world’s fastest-moving supply chains.