Canaccord Genuity Group Reaffirms Buy Rating for Smiths News (LON:SNWS)

Canaccord Genuity Group reaffirmed their buy rating on shares of Smiths News (LON:SNWS) in a research note issued to investors on Thursday, Marketbeat reports. The firm currently has a GBX 95 ($1.16) target price on the stock.

Separately, Canaccord Genuity Group reaffirmed a “buy” rating and set a GBX 95 ($1.16) price target on shares of Smiths News in a research report on Tuesday, November 5th.

Smiths News Price Performance

LON SNWS opened at GBX 60.20 ($0.74) on Thursday. The company has a market cap of £142.73 million, a P/E ratio of 668.89, a P/E/G ratio of 0.29 and a beta of 0.83. Smiths News has a 12 month low of GBX 45.98 ($0.56) and a 12 month high of GBX 71 ($0.87). The company has a 50-day moving average of GBX 62.96 and a 200-day moving average of GBX 59.79.

Smiths News Increases Dividend

The company also recently declared a dividend, which will be paid on Thursday, February 6th. Shareholders of record on Thursday, January 9th will be paid a dividend of GBX 5.40 ($0.07) per share. The ex-dividend date is Thursday, January 9th. This is a positive change from Smiths News’s previous dividend of $1.75. This represents a yield of 9.47%. Smiths News’s dividend payout ratio is currently 5,555.56%.

Insider Transactions at Smiths News

In related news, insider Deborah Rabey acquired 20,663 shares of Smiths News stock in a transaction on Friday, November 29th. The shares were bought at an average price of GBX 63 ($0.77) per share, for a total transaction of £13,017.69 ($15,927.68). Also, insider Jonathan Bunting sold 490,569 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of GBX 61 ($0.75), for a total value of £299,247.09 ($366,141.06). Insiders have sold a total of 1,993,578 shares of company stock worth $121,608,258 in the last three months. 13.12% of the stock is currently owned by company insiders.

About Smiths News

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.