PetMed Express, Inc. (NASDAQ:PETS) – Northcoast Research lowered their Q2 2018 earnings per share (EPS) estimates for shares of PetMed Express in a research note issued on Wednesday. Northcoast Research analyst E. Snyder now expects that the company will post earnings per share of $0.28 for the quarter, down from their previous forecast of $0.31. Northcoast Research currently has a “Buy” rating and a $54.00 target price on the stock. Northcoast Research also issued estimates for PetMed Express’ FY2018 earnings at $1.40 EPS, Q2 2019 earnings at $0.30 EPS and FY2019 earnings at $1.49 EPS.
PetMed Express (NASDAQ:PETS) last posted its quarterly earnings results on Monday, July 24th. The company reported $0.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.07. The business had revenue of $79.66 million during the quarter, compared to analyst estimates of $77.32 million. PetMed Express had a net margin of 10.34% and a return on equity of 28.67%. The company’s revenue was up 9.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.32 earnings per share.
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Several other research firms have also weighed in on PETS. ValuEngine raised shares of PetMed Express from a “hold” rating to a “buy” rating in a report on Friday, September 1st. 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 report on Thursday, August 24th. Craig Hallum lowered shares of PetMed Express from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. BidaskClub lowered shares of PetMed Express from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 22nd. Finally, Noble Financial reaffirmed a “hold” rating on shares of PetMed Express in a report on Wednesday, July 26th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $44.75.
PetMed Express (NASDAQ:PETS) opened at 35.56 on Friday. The company has a market capitalization of $721.58 million, a price-to-earnings ratio of 27.35 and a beta of 1.03. PetMed Express has a 52-week low of $18.90 and a 52-week high of $50.90. The firm has a 50 day moving average of $41.68 and a 200-day moving average of $33.21.
The business also recently declared a quarterly dividend, which was paid on Friday, August 18th. Investors of record on Monday, August 7th were paid a $0.20 dividend. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $0.80 dividend on an annualized basis and a yield of 2.25%. PetMed Express’s dividend payout ratio is currently 61.54%.
In related news, Director Robert C. Schweitzer sold 2,500 shares of PetMed Express stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $49.18, for a total value of $122,950.00. Following the sale, the director now owns 88,834 shares of the company’s stock, valued at approximately $4,368,856.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ronald J. Korn sold 5,000 shares of PetMed Express stock in a transaction on Friday, July 28th. The shares were sold at an average price of $48.18, for a total transaction of $240,900.00. Following the completion of the sale, the director now directly owns 67,333 shares in the company, valued at approximately $3,244,103.94. 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 three months. 4.00% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Lord Abbett & CO. LLC acquired a new stake in PetMed Express in the 2nd quarter valued at $4,202,000. Dynamic Technology Lab Private Ltd acquired a new stake in PetMed Express in the 2nd quarter valued at $412,000. WINTON GROUP Ltd acquired a new stake in PetMed Express in the 2nd quarter valued at $1,079,000. Koch Industries Inc. acquired a new stake in PetMed Express in the 2nd quarter valued at $212,000. Finally, Bank of Nova Scotia acquired a new stake in PetMed Express in the 2nd quarter valued at $781,000. 79.15% of the stock is currently owned by hedge funds and other institutional investors.
PetMed Express Company Profile
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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