Stein Mart Inc. (NASDAQ:SMRT) was downgraded by equities research analysts at Sidoti from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Thursday. They currently have a $7.00 price objective on the stock, down from their previous price objective of $10.00. Sidoti’s price target points to a potential upside of 10.24% from the stock’s previous close.
Several other equities analysts have also commented on SMRT. Zacks Investment Research raised shares of Stein Mart from a “sell” rating to a “hold” rating in a report on Friday, June 3rd. TheStreet raised shares of Stein Mart from a “hold” rating to a “buy” rating in a report on Monday, August 15th. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $7.50.
Stein Mart (NASDAQ:SMRT) opened at 6.35 on Thursday. The firm has a market capitalization of $297.83 million, a price-to-earnings ratio of 13.28 and a beta of 0.90. Stein Mart has a one year low of $5.61 and a one year high of $9.63. The company has a 50-day moving average of $7.99 and a 200 day moving average of $7.54.
Stein Mart (NASDAQ:SMRT) last issued its quarterly earnings data on Friday, August 19th. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.07 by $0.01. Stein Mart had a return on equity of 30.61% and a net margin of 1.63%. The business earned $319 million during the quarter. During the same period last year, the business earned $0.10 EPS. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. On average, analysts anticipate that Stein Mart will post $0.38 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Thursday, September 29th will be issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 4.72%. The ex-dividend date is Tuesday, September 27th. Stein Mart’s dividend payout ratio (DPR) is presently 63.83%.
Several large investors have recently made changes to their positions in SMRT. Wedge Capital Management L L P NC raised its stake in shares of Stein Mart by 5,393.2% in the second quarter. Wedge Capital Management L L P NC now owns 3,960,627 shares of the company’s stock valued at $53,746,000 after buying an additional 3,888,527 shares during the period. Paradigm Capital Management Inc. NY raised its stake in shares of Stein Mart by 9.6% in the second quarter. Paradigm Capital Management Inc. NY now owns 1,899,600 shares of the company’s stock valued at $14,665,000 after buying an additional 166,292 shares during the period. Penn Capital Management Co. Inc. raised its stake in shares of Stein Mart by 23.2% in the second quarter. Penn Capital Management Co. Inc. now owns 863,894 shares of the company’s stock valued at $6,669,000 after buying an additional 162,864 shares during the period. Kennedy Capital Management Inc. bought a new stake in shares of Stein Mart during the first quarter valued at about $1,101,000. Finally, BlackRock Fund Advisors raised its stake in shares of Stein Mart by 7.7% in the second quarter. BlackRock Fund Advisors now owns 2,046,357 shares of the company’s stock valued at $15,798,000 after buying an additional 147,001 shares during the period. 50.67% of the stock is currently owned by institutional investors.
About Stein Mart
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.
Receive News & Ratings for Stein Mart Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Stein Mart Inc. and related companies with MarketBeat.com's FREE daily email newsletter.