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

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

Pet Valu Stock Performance

Shares of TSE PET traded down C$0.01 during mid-day trading on Friday, hitting C$25.36. 1,460 shares of the stock were exchanged, compared to its average volume of 71,060. The firm has a market cap of C$1.81 billion, a P/E ratio of 22.25 and a beta of 0.81. Pet Valu has a twelve month low of C$23.58 and a twelve month high of C$32.90. The firm’s fifty day moving average price is C$25.54.

Pet Valu Cuts Dividend

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

Analysts Set New Price Targets

PET has been the topic of several recent research reports. Cormark lowered Pet Valu from a “moderate buy” rating to a “hold” rating in a report on Wednesday. TD Securities dropped their price target on shares of Pet Valu from C$32.00 to C$30.00 and set a “buy” rating on the stock in a research report on Wednesday. Cibc World Mkts raised Pet Valu to a “strong-buy” rating in a research report on Wednesday, August 7th. Raymond James dropped their target price on shares of Pet Valu from C$36.00 to C$34.00 in a research report on Wednesday. Finally, Royal Bank of Canada boosted their price objective on shares of Pet Valu from C$34.00 to C$35.00 in a report on Wednesday.

Pet Valu Company Profile

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.