Market Overview

UPDATE: Benchmark Reduces PT to $80 on PriceSmart on More Conservative 2013 EPS Estimates

Related PSMT
8 US Retail Stocks With Low Cash Conversion Cycles
Top 4 Mid-Cap Stocks In The Discount, Variety Stores Industry With The Highest EPS
Related PSMT
Top 4 Mid-Cap Stocks In The Discount, Variety Stores Industry With The Highest EPS
Bear of the Day: PriceSmart (PSMT) - Bear of the Day

Benchmark reiterated its Buy rating on PriceSmart (NASDAQ: PSMT) but reduced its price target from $87 to $80.

Benchmark commented, "While PriceSmart's operating margin declined on one-time costs and a lack of leverage of SG&A, despite double digit comps, management implemented its first membership fee increase in eight years. While we lowered our 4Q12 EPS to $0.58, from $0.63, we maintained our FY13 EPS of $2.68, as the increase in highly profitable membership fee income offset our more conservative SG&A outlook. We lowered our price target to $80, from $87, on a more conservative 30x our 2013 EPS estimate."

PriceSmart closed at $66.64 on Tuesday.

Latest Ratings for PSMT

DateFirmActionFromTo
Apr 2014Roth CapitalUpgradesNeutralBuy
Dec 2012BenchmarkMaintainsHold
Nov 2012The Benchmark CompanyDowngradesBuyHold

View More Analyst Ratings for PSMT
View the Latest Analyst Ratings

Posted-In: BenchmarkAnalyst Color Price Target Reiteration Pre-Market Outlook Analyst Ratings

 

Related Articles (PSMT)

Around the Web, We're Loving...

Get Benzinga's Newsletters