PriceSmart (NASDAQ:PSMT) Issues Quarterly Earnings Results

PriceSmart (NASDAQ:PSMT) announced its quarterly earnings results on Monday. The company reported $1.21 earnings per share for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.06), FiscalAI reports. The business had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the previous year, the business posted $1.02 EPS. The firm’s revenue was up 13.9% compared to the same quarter last year.

PriceSmart Stock Performance

NASDAQ:PSMT traded down $1.09 during trading hours on Wednesday, hitting $165.40. 10,896 shares of the company’s stock traded hands, compared to its average volume of 249,058. The stock’s fifty day moving average price is $171.25 and its two-hundred day moving average price is $165.85. The firm has a market cap of $5.10 billion, a P/E ratio of 30.63 and a beta of 0.73. PriceSmart has a twelve month low of $111.68 and a twelve month high of $199.84.

Insider Transactions at PriceSmart

In other PriceSmart news, EVP Francisco Velasco sold 338 shares of PriceSmart stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $177.87, for a total value of $60,120.06. Following the completion of the sale, the executive vice president directly owned 75,321 shares in the company, valued at $13,397,346.27. The trade was a 0.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sherry Bahrambeygui sold 3,499 shares of the firm’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $197.38, for a total value of $690,632.62. Following the transaction, the director owned 32,150 shares in the company, valued at approximately $6,345,767. This trade represents a 9.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 4,837 shares of company stock valued at $945,213 over the last ninety days. Company insiders own 17.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Jefferies Financial Group restated a “buy” rating and set a $198.00 target price on shares of PriceSmart in a research note on Wednesday, August 12th. Weiss Ratings restated a “buy (b)” rating on shares of PriceSmart in a research note on Wednesday, August 26th. Two investment analysts have rated the stock with a Buy rating. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $198.00.

About PriceSmart

PriceSmart, Inc operates membership warehouse clubs serving consumers and businesses in Latin America and the Caribbean. The company offers a broad selection of products at value-oriented prices, including groceries, fresh foods, beverages, household supplies, apparel, appliances, electronics, furniture and other general merchandise.

Through its warehouse clubs and digital commerce platforms, PriceSmart provides shopping and delivery options designed for both individual members and small businesses.