Stein Mart (SMRT) reported quarterly earnings results on Thursday, May-19-2016. The company said it had a profit of $0.30 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.04. Analysts had a consensus of $0.26. The company posted revenue of $355.70 million in the period, compared to analysts expectations of $364.52 million. The company’s revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.31 EPS.
Many Wall Street Analysts have commented on Stein Mart. Stein Mart was Downgraded by Northcoast to ” Neutral” on May 9, 2016.
Stein Mart closed down -0.18 points or -3.00% at $5.83 with 2,26,561 shares getting traded on Monday. Post opening the session at $6, the shares hit an intraday low of $5.82 and an intraday high of $6.27 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
In a different news, on Jan 19, 2016, Jay Stein (CEO) purchased 63,000 shares at $6.39 per share price. According to the SEC, on Nov 30, 2015, Mitchell W Legler (director) purchased 10,000 shares at $7.19 per share price. On Aug 25, 2015, Mcfarland Linda Farthing (director) sold 12,208 shares at $10.33 per share price, according to the Form-4 filing with the securities and exchange commission.
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. It is focused on 35-65 year old woman customers. As of January 31 2015 it operated 270 stores in 30 states and an Internet store. It stores are located in the Northeast Midwest Southeast Texas and the Southwest. It is concentrated in the Southeast and Texas where 184 of its stores are located. The company’s typical store is approximately 32000 gross square feet with a racetrack design centralized check-out and individual dressing rooms. Its stores offer a range of services such as merchandise locator service a Preferred Customer program co-branded and private label credit card programs and electronic gift cards.