Northcoast Research Weighs in on PetMed Express, Inc.’s Q3 2018 Earnings (PETS)
PetMed Express, Inc. (NASDAQ:PETS) – Analysts at Northcoast Research upped their Q3 2018 EPS estimates for PetMed Express in a report issued on Tuesday. Northcoast Research analyst E. Snyder now forecasts that the company will post earnings per share of $0.33 for the quarter, up from their prior estimate of $0.32. Northcoast Research also issued estimates for PetMed Express’ Q4 2018 earnings at $0.43 EPS, FY2018 earnings at $1.65 EPS, Q1 2019 earnings at $0.53 EPS, Q2 2019 earnings at $0.46 EPS, Q3 2019 earnings at $0.38 EPS, Q4 2019 earnings at $0.49 EPS and FY2019 earnings at $1.86 EPS.
PetMed Express (NASDAQ:PETS) last released its quarterly earnings results on Monday, October 23rd. The company reported $0.43 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.13. PetMed Express had a net margin of 11.58% and a return on equity of 31.46%. The company had revenue of $66.70 million for the quarter, compared to analysts’ expectations of $63.41 million. During the same period last year, the company earned $0.24 EPS. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year.
PetMed Express (PETS) traded up $0.82 during midday trading on Wednesday, reaching $43.51. 440,500 shares of the company traded hands, compared to its average volume of 648,455. The stock has a market capitalization of $879.60, a price-to-earnings ratio of 28.65, a price-to-earnings-growth ratio of 2.56 and a beta of 1.13. PetMed Express has a 52-week low of $19.21 and a 52-week high of $50.90.
A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in PetMed Express by 21.0% in the second quarter. Vanguard Group Inc. now owns 1,300,725 shares of the company’s stock worth $52,810,000 after purchasing an additional 225,474 shares during the period. Dimensional Fund Advisors LP raised its position in PetMed Express by 8.3% in the second quarter. Dimensional Fund Advisors LP now owns 860,601 shares of the company’s stock worth $34,940,000 after acquiring an additional 65,932 shares in the last quarter. Prudential Financial Inc. raised its position in PetMed Express by 552.8% in the third quarter. Prudential Financial Inc. now owns 824,434 shares of the company’s stock worth $27,330,000 after acquiring an additional 698,140 shares in the last quarter. Bank of New York Mellon Corp raised its position in PetMed Express by 13.1% in the second quarter. Bank of New York Mellon Corp now owns 432,057 shares of the company’s stock worth $17,542,000 after acquiring an additional 49,889 shares in the last quarter. Finally, Oaktop Capital Management II L.P. bought a new stake in PetMed Express in the second quarter worth about $15,171,000. 99.89% of the stock is owned by institutional investors and hedge funds.
In other news, Director Ronald J. Korn sold 1,000 shares of the business’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $35.57, for a total transaction of $35,570.00. Following the completion of the transaction, the director now owns 73,833 shares of the company’s stock, valued at $2,626,239.81. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 4.00% of the company’s stock.
The company also recently declared a quarterly dividend, which was paid on Friday, November 17th. Stockholders of record on Monday, November 6th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.84%. The ex-dividend date was Friday, November 3rd. PetMed Express’s dividend payout ratio (DPR) is 53.69%.
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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