Smiths News (LON:SNWS) Stock Price Down 9.8% – What’s Next?

Smiths News plc (LON:SNWS) shares were down 9.8% during mid-day trading on Thursday . The stock traded as low as GBX 59.40 ($0.73) and last traded at GBX 61 ($0.75). Approximately 3,662,190 shares changed hands during mid-day trading, an increase of 140% from the average daily volume of 1,524,815 shares. The stock had previously closed at GBX 67.60 ($0.84).

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group reaffirmed a “buy” rating and set 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 business has a fifty day moving average price of GBX 62.96 and a 200-day moving average price of GBX 59.83.

Smiths News Increases Dividend

The firm also recently declared a dividend, which will be paid on Thursday, February 6th. Shareholders of record on Thursday, January 9th will be paid a GBX 5.40 ($0.07) dividend. The ex-dividend date of this dividend is Thursday, January 9th. This is an increase from Smiths News’s previous dividend of $1.75. This represents a yield of 9.47%. Smiths News’s payout ratio is currently 5,555.56%.

Insider Activity

In related news, insider Jonathan Bunting sold 490,569 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of GBX 61 ($0.75), for a total value of £299,247.09 ($369,897.52). Also, insider Paul Baker sold 319,586 shares of the firm’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 transaction of £194,947.46 ($240,973.37). 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 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.