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PriceSmart Inc (NASDAQ:PSMT) stock reached a 52-week high, hitting $113.40, showcasing the company’s strong performance over the past year. According to InvestingPro data, the company maintains a GOOD financial health score, with a P/E ratio of 21.8x and robust revenue growth of 8.7% over the last twelve months. This milestone reflects a significant upward trajectory, with the stock experiencing a 29.8% increase over the last 12 months. The company’s ability to achieve this 52-week high underscores investor confidence and market optimism surrounding its business operations and growth prospects. Notable strengths include maintaining dividend payments for 19 consecutive years and holding more cash than debt on its balance sheet. As PriceSmart continues to expand its footprint in the retail sector, this achievement marks a notable point in its financial journey. For deeper insights into PSMT’s valuation and growth potential, access the comprehensive Pro Research Report available on InvestingPro.
In other recent news, PriceSmart reported third-quarter revenue of $1.32 billion, surpassing analyst expectations of $1.3 billion. This marks a 7.1% increase from $1.23 billion in the same period last year. Despite this revenue success, earnings per share were slightly below the analyst estimate, coming in at $1.14 compared to the projected $1.15. Net income rose to $35.2 million, an 8.2% increase from $32.5 million in the previous year. Jefferies reiterated a Buy rating for PriceSmart, highlighting strong membership growth and resilient sales performance, with membership income rising 13.4% to $21.9 million. The company also reported EBITDA growth of 11% to $77 million. PriceSmart is evaluating Chile as a potential new market, having hired local consultants and begun searching for potential sites. The company currently operates 55 warehouse clubs across 12 countries and one U.S. territory.
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