PriceSmart (NASDAQ:PSMT) Announces Quarterly Earnings Results, Misses Expectations By $0.22 EPS

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

PriceSmart Stock Performance

Shares of NASDAQ PSMT traded up $1.23 during midday trading on Wednesday, hitting $93.45. 384,837 shares of the stock traded hands, compared to its average volume of 195,494. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.45 and a current ratio of 1.22. The firm has a market capitalization of $2.87 billion, a P/E ratio of 20.45 and a beta of 0.86. The firm has a 50-day moving average of $91.18 and a two-hundred day moving average of $88.58. PriceSmart has a one year low of $72.30 and a one year high of $99.23.

Wall Street Analyst Weigh In

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

Insider Transactions at PriceSmart

In other news, EVP Francisco Velasco sold 827 shares of the stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $91.03, for a total value of $75,281.81. Following the sale, the executive vice president now directly owns 84,385 shares in the company, valued at approximately $7,681,566.55. This represents a 0.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP David R. Price sold 2,750 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $92.24, for a total transaction of $253,660.00. Following the transaction, the executive vice president now owns 48,844 shares in the company, valued at approximately $4,505,370.56. The trade was a 5.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 16,290 shares of company stock worth $1,476,009 in the last 90 days. 17.10% of the stock is currently owned by 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.