PetIQ (PETQ) to Post Q2 2018 Earnings of $0.35 Per Share, Oppenheimer Forecasts

PetIQ (NASDAQ:PETQ) – Equities research analysts at Oppenheimer dropped their Q2 2018 earnings per share estimates for PetIQ in a research report issued on Wednesday, May 16th. Oppenheimer analyst B. Nagel now anticipates that the company will post earnings of $0.35 per share for the quarter, down from their prior forecast of $0.42. Oppenheimer also issued estimates for PetIQ’s Q3 2018 earnings at $0.28 EPS, FY2018 earnings at $0.75 EPS and FY2019 earnings at $1.00 EPS.

PetIQ (NASDAQ:PETQ) last released its quarterly earnings results on Tuesday, May 15th. The company reported $0.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.04. The firm had revenue of $115.10 million for the quarter, compared to analyst estimates of $108.54 million. PetIQ had a net margin of 0.17% and a return on equity of 11.39%. The business’s revenue was up 71.8% on a year-over-year basis.

A number of other brokerages have also issued reports on PETQ. BidaskClub lowered PetIQ from a “hold” rating to a “sell” rating in a research report on Friday, May 4th. Zacks Investment Research lowered PetIQ from a “buy” rating to a “hold” rating in a research report on Tuesday, March 27th. Finally, Jefferies Group reissued a “buy” rating and issued a $30.00 target price on shares of PetIQ in a research report on Wednesday. Two research analysts have rated the stock with a sell rating and six have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $28.00.

PETQ stock opened at $18.25 on Friday. The company has a current ratio of 2.35, a quick ratio of 3.56 and a debt-to-equity ratio of 0.69. PetIQ has a one year low of $19.88 and a one year high of $22.36.

Several large investors have recently bought and sold shares of PETQ. Keeler Thomas Management LLC acquired a new position in shares of PetIQ in the fourth quarter worth $131,000. The Manufacturers Life Insurance Company grew its stake in shares of PetIQ by 64.0% in the first quarter. The Manufacturers Life Insurance Company now owns 6,838 shares of the company’s stock worth $182,000 after acquiring an additional 2,669 shares in the last quarter. Wells Fargo & Company MN acquired a new position in shares of PetIQ in the third quarter worth $204,000. Tokio Marine Asset Management Co. Ltd. acquired a new position in shares of PetIQ in the first quarter worth $247,000. Finally, Gotham Asset Management LLC acquired a new position in shares of PetIQ in the fourth quarter worth $264,000. Institutional investors and hedge funds own 39.35% of the company’s stock.

In other PetIQ news, CEO Mccord Christensen sold 20,000 shares of the business’s stock in a transaction on Monday, April 2nd. The shares were sold at an average price of $26.22, for a total value of $524,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO John Newland sold 5,500 shares of the business’s stock in a transaction on Monday, March 19th. The stock was sold at an average price of $24.83, for a total transaction of $136,565.00. The disclosure for this sale can be found here. In the last three months, insiders sold 65,500 shares of company stock worth $1,657,765. 45.26% of the stock is owned by corporate insiders.

PetIQ Company Profile

PetIQ, Inc develops, manufactures, and distributes pet medications, and health and wellness products for dogs and cats in the United States, Canada, and Europe. It offers pet prescription medications, including products for arthritis, thyroid, and diabetes and pain treatments, as well as heartworm preventatives, antibiotics, and other specialty medications; over-the-counter medications and supplies, such as flea and tick control products in various forms comprising spot on treatments, chewables, and collars; and health and wellness products consisting of specialty treats and other pet products, which include dental treats and nutritional supplements.

Earnings History and Estimates for PetIQ (NASDAQ:PETQ)

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