Northcoast Research Analysts Decrease Earnings Estimates for PetMed Express, Inc. (PETS)

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.

Earnings History and Estimates for PetMed Express (NASDAQ:PETS)

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