PriceSmart Beats Estimates (PSMT)

PriceSmart, Inc. PSMT announced on Friday morning that it beat consensus Wall Street estimates. PriceSmart, Inc reported that its 1st quarter net income rose to $14.9 million, or 50 cents per share, up from $10.4 million, or 35 cents per share, a year earlier. The company's total revenue climbed to $386.07 million, up from $315.42 million a year earlier. According to a survey of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 44 cents per share, on revenue of $377.37 million. PriceSmart, Inc. (PSMT) closed the previous trading day at $37.58 per share. Analysts covering the company's stock give it a consensus price target of $39.50 per share. PriceSmart, Inc, headquartered in San Diego, owns and operates U.S.-style membership shopping warehouse clubs in Central America and the Caribbean, selling high quality merchandise at low prices to PriceSmart members. Read more from Benzinga's Company news.