Smiths News (LON:SNWS) Trading Down 9.5% - Here's Why

Smiths News plc (LON:SNWS - Get Free Report)'s stock price dropped 9.5% on Thursday . The stock traded as low as GBX 59.40 ($0.73) and last traded at GBX 61.20 ($0.75). Approximately 1,615,870 shares traded 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).

Wall Street Analysts Forecast Growth

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

Smiths News Price Performance

The stock has a market capitalization of £145.10 million, a P/E ratio of 680.00, a price-to-earnings-growth ratio of 0.29 and a beta of 0.83. The business's 50 day moving average price is GBX 63.04 and its 200 day moving average price is GBX 59.84.

Smiths News Increases Dividend

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

Insider Buying and Selling

In other Smiths News news, insider Deborah Rabey acquired 20,663 shares of the business's stock in a transaction dated Friday, November 29th. The stock was purchased 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 1,183,423 shares of the firm's stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of GBX 61 ($0.75), for a total value of £721,888.03 ($888,258.93). Insiders sold 1,993,578 shares of company stock valued at $121,608,258 over the last 90 days. Company 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.