Smiths News (LON:SNWS) Given Buy Rating at Canaccord Genuity Group

Canaccord Genuity Group reiterated their buy rating on shares of Smiths News (LON:SNWS) in a research note released on Thursday morning, Marketbeat reports. Canaccord Genuity Group currently has a GBX 95 ($1.16) price objective on the stock.

Separately, Canaccord Genuity Group restated 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 Stock Performance

LON:SNWS opened at GBX 60.40 ($0.73) on Thursday. Smiths News has a fifty-two week low of GBX 45.98 ($0.56) and a fifty-two week high of GBX 71 ($0.86). The company has a 50 day moving average price of GBX 62.94 and a 200 day moving average price of GBX 59.80. The stock has a market capitalization of £143.20 million, a P/E ratio of 671.11, a PEG ratio of 0.29 and a beta of 0.83.

Smiths News Increases Dividend

The firm also recently disclosed 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 is a positive change from Smiths News’s previous dividend of $1.75. The ex-dividend date of this dividend is Thursday, January 9th. This represents a dividend yield of 9.47%. Smiths News’s dividend payout ratio (DPR) is presently 5,555.56%.

Insider Activity at Smiths News

In other Smiths News news, insider Jonathan Bunting sold 490,569 shares of the stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of GBX 61 ($0.74), for a total value of £299,247.09 ($364,091.85). Also, insider Paul Baker sold 319,586 shares of the business’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of GBX 61 ($0.74), for a total value of £194,947.46 ($237,191.22). Over the last quarter, insiders sold 1,993,578 shares of company stock worth $121,608,258. Corporate insiders own 13.12% of the company’s stock.

Smiths News Company Profile

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.