Smiths News (LON:SNWS) Stock Price Down 9.5% – Here’s Why

by · The Cerbat Gem

Smiths News plc (LON:SNWS – Get Free Report)’s stock price dropped 9.5% on Friday . The company traded as low as GBX 59.40 ($0.73) and last traded at GBX 61.20 ($0.75). Approximately 1,615,870 shares changed hands during trading, an increase of 37% from the average daily volume of 1,183,762 shares. The stock had previously closed at GBX 67.60 ($0.83).

Analysts Set New Price Targets

Separately, Canaccord Genuity Group restated a “buy” rating and issued a GBX 95 ($1.17) price target on shares of Smiths News in a research report on Tuesday, November 5th.

Get Our Latest Stock Analysis on SNWS

Smiths News Price Performance

The stock has a market capitalization of £143.20 million, a price-to-earnings ratio of 671.11, a PEG ratio of 0.29 and a beta of 0.83. The business’s fifty day moving average price is GBX 63.04 and its 200-day moving average price is GBX 59.84.

Smiths News Increases Dividend

The firm also recently announced a dividend, which will be paid on Thursday, February 6th. Stockholders of record on Thursday, January 9th will be paid a GBX 5.40 ($0.07) dividend. This represents a dividend yield of 9.47%. The ex-dividend date is Thursday, January 9th. This is an increase from Smiths News’s previous dividend of $1.75. Smiths News’s payout ratio is presently 5,555.56%.

Insider Buying and Selling

In other Smiths News news, insider Deborah Rabey purchased 20,663 shares of the stock in a transaction dated Friday, November 29th. The shares were bought at an average price of GBX 63 ($0.78) per share, with a total value of £13,017.69 ($16,017.83). Also, insider Jonathan Bunting sold 490,569 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of GBX 61 ($0.75), for a total transaction of £299,247.09 ($368,213.47). Over the last three months, insiders have sold 1,993,578 shares of company stock worth $121,608,258. 13.12% of the stock is owned by company insiders.

About Smiths News

(Get Free Report)

In 1792 we started delivering the nation’s newspapers. Today, we’re proud to be the UK’s largest wholesaler of newspapers and magazines, serving 24,000 retailers from superstores to corner shops.

Service and efficiency put us at the forefront of our industry and with 55% market share we are the leading player in one of the world’s fastest-moving supply chains.

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