Stein Mart Inc. (SMRT) Lowered to “Hold” at Johnson Rice
A number of other equities research analysts have also recently weighed in on the company. Sidoti cut Stein Mart from a buy rating to a neutral rating in a research note on Thursday. TheStreet cut Stein Mart from a buy rating to a hold rating in a research note on Monday. Finally, Zacks Investment Research cut Stein Mart from a hold rating to a sell rating in a research report on Saturday, September 24th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $7.50.
Shares of Stein Mart (NASDAQ:SMRT) traded up 0.4778% during trading on Thursday, reaching $6.3301. 109,128 shares of the company were exchanged. The company has a 50 day moving average price of $8.06 and a 200-day moving average price of $7.54. The stock has a market capitalization of $296.89 million, a price-to-earnings ratio of 13.2429 and a beta of 0.90. Stein Mart has a one year low of $5.61 and a one year high of $9.63.
Stein Mart (NASDAQ:SMRT) last posted its quarterly earnings results on Friday, August 19th. The company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by $0.01. Stein Mart had a net margin of 1.63% and a return on equity of 30.61%. The business earned $319 million during the quarter. During the same quarter in the previous year, the business posted $0.10 EPS. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. Equities analysts predict that Stein Mart will post $0.57 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Thursday, September 29th will be given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 4.76%. The ex-dividend date of this dividend is Tuesday, September 27th. Stein Mart’s payout ratio is 63.83%.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Louisiana State Employees Retirement System boosted its position in shares of Stein Mart by 1.6% in the second quarter. Louisiana State Employees Retirement System now owns 13,100 shares of the company’s stock worth $101,000 after buying an additional 200 shares during the last quarter. Alliancebernstein L.P. boosted its position in shares of Stein Mart by 32.4% in the second quarter. Alliancebernstein L.P. now owns 13,900 shares of the company’s stock worth $107,000 after buying an additional 3,400 shares during the last quarter. BlackRock Advisors LLC boosted its position in shares of Stein Mart by 9.9% in the second quarter. BlackRock Advisors LLC now owns 14,019 shares of the company’s stock worth $108,000 after buying an additional 1,260 shares during the last quarter. Arizona State Retirement System boosted its position in shares of Stein Mart by 3.5% in the first quarter. Arizona State Retirement System now owns 14,907 shares of the company’s stock worth $109,000 after buying an additional 500 shares during the last quarter. Finally, American International Group Inc. boosted its position in shares of Stein Mart by 3.7% in the second quarter. American International Group Inc. now owns 22,928 shares of the company’s stock worth $177,000 after buying an additional 815 shares during the last quarter. Hedge funds and other institutional investors own 50.67% of the company’s stock.
Stein Mart Company Profile
Stein Mart, Inc is a national retailer offering the fashion merchandise, service and presentation of a department or specialty store. The Company offers apparel for women and men, as well as accessories, shoes and home fashions. The Company’s target customers are women over 45 years old. The Company operates approximately 280 stores in over 30 states and an Internet store.
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