PetSmart Price Target Cut to $81.00 by Analysts at RBC Capital (PETM)
Investment analysts at RBC Capital cut their price objective on shares of PetSmart (NASDAQ:PETM) from $85.00 to $81.00 in a note issued to investors on Friday, Analyst Ratings.Net reports. The firm currently has an “outperform” rating on the stock. RBC Capital’s price objective indicates a potential upside of 12.19% from the stock’s previous close.
PetSmart (NASDAQ:PETM) traded up 0.47% during mid-day trading on Friday, hitting $72.20. The stock had a trading volume of 1,632,345 shares. PetSmart has a 52 week low of $61.30 and a 52 week high of $77.32. The stock has a 50-day moving average of $73.25 and a 200-day moving average of $70.28. The company has a market cap of $7.502 billion and a price-to-earnings ratio of 18.64.
PetSmart (NASDAQ:PETM) last posted its quarterly earnings results on Wednesday, August 21st. The company reported $0.89 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.06 by $0.83. The company had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter in the prior year, the company posted $0.71 earnings per share. The company’s quarterly revenue was up 5.3% on a year-over-year basis. On average, analysts predict that PetSmart will post $3.98 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, November 15th. Stockholders of record on Friday, November 1st will be given a dividend of $0.20 per share. This represents a $0.78 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date of this dividend is Wednesday, October 30th. This is a boost from PetSmart’s previous quarterly dividend of $0.17.
Other equities research analysts have also recently issued reports about the stock. Analysts at Wedbush reiterated a “positive” rating on shares of PetSmart in a research note to investors on Tuesday. Separately, analysts at Barclays raised their price target on shares of PetSmart from $75.00 to $82.00 in a research note to investors on Friday, September 27th. They now have an “overweight” rating on the stock. Finally, analysts at UBS AG raised their price target on shares of PetSmart from $79.00 to $82.00 in a research note to investors on Friday, August 16th. They now have a “buy” rating on the stock. One analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $74.92.
PetSmart, Inc supplies products, services and solutions for the lifetime needs of pets. The Company operates a website for pet supplies, foods and different animal needs.
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