PetMed Express, Inc. (PETS) Posts Earnings Results, Beats Expectations By $0.13 EPS
PetMed Express, Inc. (NASDAQ:PETS) issued its quarterly earnings results on Monday. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.13, Bloomberg Earnings reports. The company had revenue of $66.70 million during the quarter, compared to analyst estimates of $63.41 million. PetMed Express had a net margin of 10.34% and a return on equity of 28.67%. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.24 EPS.
PetMed Express (PETS) traded up 20.17% during mid-day trading on Monday, reaching $44.15. 3,702,790 shares of the company traded hands. The firm has a market cap of $895.89 million, a PE ratio of 33.96 and a beta of 1.03. PetMed Express has a one year low of $18.90 and a one year high of $50.90. The stock’s 50-day moving average price is $35.65 and its 200-day moving average price is $35.91.
In other news, Director Ronald J. Korn sold 5,000 shares of the firm’s 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 transaction, the director now owns 67,333 shares of the company’s stock, valued at approximately $3,244,103.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Bruce S. Rosenbloom sold 6,833 shares of the firm’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $50.18, for a total transaction of $342,879.94. Following the completion of the transaction, the chief financial officer now directly owns 18,534 shares in the company, valued at approximately $930,036.12. The disclosure for this sale can be found here. Insiders sold a total of 19,333 shares of company stock worth $949,730 in the last ninety days. Insiders own 4.00% of the company’s stock.
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A number of brokerages have recently weighed in on PETS. Noble Financial reaffirmed a “hold” rating on shares of PetMed Express in a research note on Wednesday, July 26th. Craig Hallum reissued a “hold” rating and set a $40.00 target price (down from $43.00) on shares of PetMed Express in a research note on Monday, August 21st. They noted that the move was a valuation call. BidaskClub lowered shares of PetMed Express from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 22nd. Northcoast Research raised shares of PetMed Express from a “neutral” rating to a “buy” rating and set a $54.00 target price for the company in a research note on Monday, July 24th. Finally, Sidoti raised shares of PetMed Express from a “neutral” rating to a “buy” rating and set a $47.00 target price for the company in a research note on Thursday, August 24th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. PetMed Express has a consensus rating of “Hold” and an average price target of $40.00.
About PetMed Express
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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