Smiths News (LON:SNWS) Shares Down 2.2% – Here’s What Happened

Smiths News plc (LON:SNWS)’s stock price dropped 2.2% during mid-day trading on Friday . The company traded as low as GBX 53.40 ($0.69) and last traded at GBX 53.60 ($0.69). Approximately 221,630 shares were traded during trading, a decline of 55% from the average daily volume of 487,394 shares. The stock had previously closed at GBX 54.80 ($0.71).

Analysts Set New Price Targets

Separately, Canaccord Genuity Group restated a “buy” rating and set a GBX 95 ($1.23) price target on shares of Smiths News in a report on Thursday, January 16th.

Smiths News Price Performance

The business has a fifty day simple moving average of GBX 58.58 and a two-hundred day simple moving average of GBX 59.80. The company has a current ratio of 0.98, a quick ratio of 0.83 and a debt-to-equity ratio of -1,469.70. The stock has a market cap of £128.66 million, a PE ratio of 5.05, a P/E/G ratio of 0.29 and a beta of 0.83.

Smiths News Increases Dividend

The company also recently announced a dividend, which was paid on Thursday, February 6th. Shareholders of record on Thursday, January 9th were issued a dividend of GBX 5.40 ($0.07) per share. This is an increase from Smiths News’s previous dividend of $1.75. The ex-dividend date of this dividend was Thursday, January 9th. This represents a dividend yield of 9.47%. Smiths News’s dividend payout ratio is 47.09%.

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.