Pet Valu (TSE:PET) Posts Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Pet Valu (TSE:PET) issued its quarterly earnings data on Tuesday. The company reported C$0.41 EPS for the quarter, topping analysts’ consensus estimates of C$0.35 by C$0.06, reports. The company had revenue of C$276.03 million for the quarter, compared to analysts’ expectations of C$267.68 million. Pet Valu had a return on equity of 128.24% and a net margin of 7.64%.

Pet Valu Stock Down 0.0 %

Shares of PET traded down C$0.01 during trading hours on Friday, hitting C$25.36. 1,460 shares of the company were exchanged, compared to its average volume of 71,060. Pet Valu has a one year low of C$23.58 and a one year high of C$32.90. The company has a market capitalization of C$1.81 billion, a P/E ratio of 22.25 and a beta of 0.81. The business’s fifty day moving average is C$25.54.

Pet Valu Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a $0.11 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.44 annualized dividend and a yield of 1.74%. Pet Valu’s dividend payout ratio (DPR) is 38.60%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on PET shares. Cormark cut shares of Pet Valu from a “moderate buy” rating to a “hold” rating in a research report on Wednesday. TD Securities cut their price target on Pet Valu from C$32.00 to C$30.00 and set a “buy” rating on the stock in a report on Wednesday. Cibc World Mkts raised Pet Valu to a “strong-buy” rating in a report on Wednesday, August 7th. Raymond James cut their target price on Pet Valu from C$36.00 to C$34.00 in a research note on Wednesday. Finally, Barclays lowered their price target on Pet Valu from C$28.00 to C$27.00 in a report on Wednesday.

About Pet Valu

Pet Valu Holdings Ltd. engages in the retail and wholesale of pet foods and pet-related supplies for dogs, cats, fish, birds, reptiles, and small animals in Canada. It offers food and treats for dogs and cats, cat litter, dog and cat toys, collars and leashes, health and wellness solutions, waste management solutions, pet cages and carriers, flea and tick products, and pet apparel and other related accessories.