Shares of Smiths News plc (LON:SNWS - Get Free Report) fell 11% during trading on Thursday . The company traded as low as GBX 59.40 ($0.73) and last traded at GBX 60.17 ($0.74). 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).
Wall Street Analysts Forecast Growth
Separately, Canaccord Genuity Group restated a "buy" rating and set a GBX 95 ($1.17) price target on shares of Smiths News in a research note on Tuesday, November 5th.
Check Out Our Latest Stock Report on SNWS
Smiths News Price Performance
The stock's 50 day simple moving average is GBX 63.04 and its two-hundred day simple moving average is GBX 59.84. The company has a market capitalization of £145.10 million, a P/E ratio of 680.00, a P/E/G ratio of 0.29 and a beta of 0.83.
Smiths News Increases Dividend
The company also recently declared a dividend, which will be paid on Thursday, February 6th. Investors of record on Thursday, January 9th will be issued a GBX 5.40 ($0.07) dividend. This is a boost from Smiths News's previous dividend of $1.75. The ex-dividend date of this dividend is Thursday, January 9th. This represents a yield of 9.47%. Smiths News's dividend payout ratio (DPR) is currently 5,555.56%.
Insider Buying and Selling at Smiths News
In other news, insider Paul Baker sold 319,586 shares of the company's stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of GBX 61 ($0.75), for a total value of £194,947.46 ($239,876.29). Also, insider Deborah Rabey acquired 20,663 shares of Smiths News stock in a transaction that occurred on Friday, November 29th. The shares were purchased at an average cost of GBX 63 ($0.78) per share, for a total transaction of £13,017.69 ($16,017.83). In the last three months, insiders have sold 1,993,578 shares of company stock worth $121,608,258. Company insiders own 13.12% of the company's stock.
Smiths News Company Profile
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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.
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