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

Smiths News plc (LON:SNWS - Get Free Report) shares fell 9.5% during trading on Thursday . The stock traded as low as GBX 59.40 ($0.73) and last traded at GBX 61.20 ($0.75). 1,615,870 shares changed hands during trading, an increase of 37% from the average session 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 price-to-earnings ratio of 680.00, a PEG ratio of 0.29 and a beta of 0.83. The firm has a 50-day moving average of GBX 63.04 and a 200 day moving average of GBX 59.84.

Smiths News Increases Dividend

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

Insiders Place Their Bets

In other news, insider Jonathan Bunting sold 1,183,423 shares of the stock in a transaction dated 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). Also, insider Paul Baker sold 319,586 shares of Smiths News stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of GBX 61 ($0.75), for a total transaction of £194,947.46 ($239,876.29). Over the last three months, insiders have sold 1,993,578 shares of company stock valued at $121,608,258. 13.12% of the stock is currently owned by corporate insiders.

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.