Smiths News (LON:SNWS) Stock Price Down 11% – What’s Next?

Smiths News plc (LON:SNWS) fell 11% during mid-day trading on Thursday . The company traded as low as GBX 59.40 ($0.73) and last traded at GBX 60.17 ($0.73). 3,049,240 shares traded hands during trading, an increase of 114% from the average session volume of 1,422,657 shares. The stock had previously closed at GBX 67.60 ($0.83).

Analyst Ratings Changes

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

Smiths News Price Performance

The business’s 50-day moving average price is GBX 63.07 and its two-hundred day moving average price is GBX 59.83. The firm has a market cap of £138.46 million, a price-to-earnings ratio of 648.89, a P/E/G ratio of 0.29 and a beta of 0.83.

Smiths News Increases Dividend

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

Insider Transactions at Smiths News

In other news, insider Deborah Rabey bought 20,663 shares of the firm’s stock in a transaction dated Friday, November 29th. The stock was bought at an average price of GBX 63 ($0.77) per share, for a total transaction of £13,017.69 ($15,894.62). Also, insider Paul Baker sold 319,586 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of GBX 61 ($0.74), for a total value of £194,947.46 ($238,031.09). In the last 90 days, insiders sold 1,993,578 shares of company stock valued at $121,608,258. Insiders own 13.12% of the company’s stock.

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.