Q2 2018 EPS Estimates for PetMed Express, Inc. Cut by Northcoast Research (PETS)
PetMed Express, Inc. (NASDAQ:PETS) – Northcoast Research decreased their Q2 2018 earnings estimates for PetMed Express in a report issued on Wednesday. Northcoast Research analyst E. Snyder now anticipates that the company will post earnings per share of $0.28 for the quarter, down from their prior forecast of $0.31. Northcoast Research currently has a “Buy” rating and a $54.00 price target on the stock. Northcoast Research also issued estimates for PetMed Express’ FY2018 earnings at $1.40 EPS, Q2 2019 earnings at $0.30 EPS and FY2019 earnings at $1.49 EPS.
PetMed Express (NASDAQ:PETS) last posted its earnings results on Monday, July 24th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.07. PetMed Express had a return on equity of 28.67% and a net margin of 10.34%. The company had revenue of $79.66 million for the quarter, compared to analyst estimates of $77.32 million. During the same quarter in the previous year, the firm earned $0.32 earnings per share. The firm’s quarterly revenue was up 9.9% compared to the same quarter last year. WARNING: “Q2 2018 EPS Estimates for PetMed Express, Inc. Cut by Northcoast Research (PETS)” was originally reported by American Banking News and is owned by of American Banking News. If you are viewing this news story on another website, it was stolen and republished in violation of US & international copyright & trademark laws. The correct version of this news story can be accessed at https://www.americanbankingnews.com/2017/09/15/q2-2018-eps-estimates-for-petmed-express-inc-cut-by-northcoast-research-pets.html.
PETS has been the topic of a number of other research reports. Noble Financial reaffirmed a “hold” rating on shares of PetMed Express in a research report on Wednesday, July 26th. Craig Hallum reiterated a “hold” rating and issued a $40.00 price objective (down previously from $43.00) on shares of PetMed Express in a report on Monday, August 21st. They noted that the move was a valuation call. BidaskClub downgraded PetMed Express from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 22nd. Sidoti upgraded PetMed Express from a “neutral” rating to a “buy” rating and set a $47.00 price objective on the stock in a report on Thursday, August 24th. Finally, ValuEngine upgraded PetMed Express from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. PetMed Express has a consensus rating of “Buy” and a consensus price target of $44.75.
PetMed Express (NASDAQ PETS) traded down 1.5715% during trading on Friday, reaching $36.1331. The company’s stock had a trading volume of 233,560 shares. PetMed Express has a 1-year low of $18.90 and a 1-year high of $50.90. The stock has a market capitalization of $733.21 million, a PE ratio of 27.7947 and a beta of 1.03. The stock has a 50 day moving average price of $42.06 and a 200 day moving average price of $33.11.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pinebridge Investments L.P. increased its holdings in shares of PetMed Express by 1.0% in the 2nd quarter. Pinebridge Investments L.P. now owns 2,704 shares of the company’s stock valued at $110,000 after acquiring an additional 27 shares during the last quarter. Arizona State Retirement System increased its holdings in shares of PetMed Express by 0.9% in the 1st quarter. Arizona State Retirement System now owns 10,667 shares of the company’s stock valued at $215,000 after acquiring an additional 100 shares during the last quarter. Texas Permanent School Fund increased its holdings in shares of PetMed Express by 0.8% in the 2nd quarter. Texas Permanent School Fund now owns 14,986 shares of the company’s stock valued at $608,000 after acquiring an additional 125 shares during the last quarter. Advisor Group Inc. increased its holdings in shares of PetMed Express by 0.7% in the 2nd quarter. Advisor Group Inc. now owns 24,844 shares of the company’s stock valued at $1,009,000 after acquiring an additional 179 shares during the last quarter. Finally, Isthmus Partners LLC increased its holdings in shares of PetMed Express by 0.7% in the 1st quarter. Isthmus Partners LLC now owns 36,983 shares of the company’s stock valued at $745,000 after acquiring an additional 239 shares during the last quarter. Institutional investors and hedge funds own 79.15% of the company’s stock.
In other news, Director Robert C. Schweitzer sold 2,500 shares of the 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 transaction, the director now owns 88,834 shares in the company, valued at approximately $4,368,856.12. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ronald J. Korn sold 5,000 shares of the stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $48.18, for a total value of $240,900.00. Following the completion of the transaction, the director now owns 67,333 shares in the company, valued at approximately $3,244,103.94. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,333 shares of company stock worth $949,730. Company insiders own 4.00% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 18th. Stockholders of record on Monday, August 7th were issued a $0.20 dividend. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.18%. PetMed Express’s payout ratio is currently 61.54%.
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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