Smiths News (LON:SNWS) Shares 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 were traded 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).

Analysts Set New Price Targets

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

Smiths News Trading Down 9.5 %

The stock has a market capitalization of £145.10 million, a PE ratio of 680.00, a PEG ratio of 0.29 and a beta of 0.83. The company's 50 day simple moving average is GBX 63.04 and its 200 day simple moving average is GBX 59.84.

Smiths News Increases Dividend

The business also recently declared a dividend, which will be paid on Thursday, February 6th. Stockholders of record on Thursday, January 9th will be given 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 Transactions at Smiths News

In other news, insider Deborah Rabey purchased 20,663 shares of the company's stock in a transaction dated Friday, November 29th. The shares were bought 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 that occurred on Tuesday, November 5th. The shares were sold at an average price of GBX 61 ($0.75), for a total value of £721,888.03 ($888,258.93). In the last three months, insiders sold 1,993,578 shares of company stock valued at $121,608,258. 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.