Zacks: Brokerages Anticipate PetMed Express, Inc. (PETS) Will Post Earnings of $0.30 Per Share
Wall Street analysts expect PetMed Express, Inc. (NASDAQ:PETS) to post earnings of $0.30 per share for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for PetMed Express’ earnings, with the lowest EPS estimate coming in at $0.28 and the highest estimate coming in at $0.31. PetMed Express posted earnings of $0.24 per share in the same quarter last year, which suggests a positive year over year growth rate of 25%. The company is scheduled to announce its next quarterly earnings results on Monday, October 23rd.
According to Zacks, analysts expect that PetMed Express will report full year earnings of $1.42 per share for the current year, with EPS estimates ranging from $1.41 to $1.43. For the next financial year, analysts expect that the business will report earnings of $1.52 per share, with EPS estimates ranging from $1.51 to $1.53. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that follow PetMed Express.
PetMed Express (NASDAQ:PETS) last released its quarterly earnings data on Monday, July 24th. The company reported $0.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.07. PetMed Express had a net margin of 10.34% and a return on equity of 28.67%. The firm had revenue of $79.66 million for the quarter, compared to the consensus estimate of $77.32 million. During the same period in the previous year, the company earned $0.32 earnings per share. The company’s quarterly revenue was up 9.9% on a year-over-year basis.
PETS has been the topic of a number of recent analyst reports. Craig Hallum cut PetMed Express from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. Noble Financial reiterated a “hold” rating on shares of PetMed Express in a research note on Wednesday, July 26th. Zacks Investment Research upgraded PetMed Express from a “hold” rating to a “strong-buy” rating and set a $38.00 target price on the stock in a research note on Wednesday, May 10th. Finally, Northcoast Research upgraded PetMed Express from a “neutral” rating to a “buy” rating and set a $54.00 target price on the stock in a research note on Monday, July 24th.
PetMed Express (NASDAQ PETS) opened at 45.46 on Friday. The firm has a 50 day moving average of $44.29 and a 200 day moving average of $30.92. PetMed Express has a 12-month low of $18.90 and a 12-month high of $50.90. The firm has a market capitalization of $922.47 million, a P/E ratio of 34.97 and a beta of 0.99.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 18th. Investors of record on Monday, August 7th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.76%. The ex-dividend date of this dividend is Thursday, August 3rd. PetMed Express’s dividend payout ratio (DPR) is currently 61.54%.
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In related news, CFO Bruce S. Rosenbloom sold 6,833 shares of PetMed Express stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $50.18, for a total value of $342,879.94. Following the completion of the sale, the chief financial officer now owns 18,534 shares of the company’s stock, valued at approximately $930,036.12. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Robert C. Schweitzer sold 2,500 shares of PetMed Express stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $49.18, for a total value of $122,950.00. Following the completion of the sale, the director now directly owns 88,834 shares of the company’s stock, valued at approximately $4,368,856.12. The disclosure for this sale can be found here. In the last three months, insiders sold 19,333 shares of company stock valued at $949,730. 4.00% of the stock is currently owned by insiders.
A number of large investors have recently made changes to their positions in PETS. TD Asset Management Inc. raised its stake in shares of PetMed Express by 28.7% in the first quarter. TD Asset Management Inc. now owns 132,378 shares of the company’s stock valued at $2,666,000 after buying an additional 29,500 shares during the period. Karp Capital Management Corp purchased a new stake in shares of PetMed Express during the first quarter valued at $496,000. Comerica Bank raised its stake in shares of PetMed Express by 3.9% in the first quarter. Comerica Bank now owns 22,619 shares of the company’s stock valued at $526,000 after buying an additional 858 shares during the period. Bank of New York Mellon Corp raised its stake in shares of PetMed Express by 2.9% in the first quarter. Bank of New York Mellon Corp now owns 382,168 shares of the company’s stock valued at $7,696,000 after buying an additional 10,597 shares during the period. Finally, Capital One National Association raised its stake in shares of PetMed Express by 1.1% in the first quarter. Capital One National Association now owns 31,529 shares of the company’s stock valued at $635,000 after buying an additional 333 shares during the period. 79.12% of the stock is owned by institutional investors.
PetMed Express Company Profile
PetMed Express, Inc (PetMed Express), doing business as 1800PetMeds, is a pet pharmacy. The Company markets prescription and non-prescription pet medications, and other health products for dogs and cats, direct to the consumer. It offers a selection of products for dogs and cats. Its product line contains approximately 3,000 stock keeping units (SKUS) of pet medications, health products and supplies.
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