Cormark Issues Pessimistic Estimate for Pet Valu Earnings

Pet Valu Holdings Ltd. (TSE:PET - Free Report) - Stock analysts at Cormark lowered their FY2024 earnings per share estimates for Pet Valu in a research note issued to investors on Wednesday, November 6th. Cormark analyst K. Mcphee now expects that the company will earn $1.50 per share for the year, down from their prior forecast of $1.53. Cormark currently has a "Hold" rating on the stock. The consensus estimate for Pet Valu's current full-year earnings is $1.68 per share. Cormark also issued estimates for Pet Valu's FY2025 earnings at $1.56 EPS, FY2026 earnings at $1.67 EPS and FY2027 earnings at $2.00 EPS.

Pet Valu (TSE:PET - Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The company reported C$0.41 EPS for the quarter, topping the consensus estimate of C$0.35 by C$0.06. The business had revenue of C$276.03 million for the quarter, compared to analyst estimates of C$267.68 million. Pet Valu had a return on equity of 128.24% and a net margin of 7.64%.

A number of other research analysts also recently weighed in on the stock. TD Securities decreased their price objective on shares of Pet Valu from C$32.00 to C$30.00 and set a "buy" rating for the company in a research report on Wednesday. Cibc World Mkts raised Pet Valu to a "strong-buy" rating in a report on Wednesday, August 7th. Royal Bank of Canada increased their price target on Pet Valu from C$34.00 to C$35.00 in a research report on Wednesday. Raymond James cut their price objective on Pet Valu from C$36.00 to C$34.00 in a research report on Wednesday. Finally, Barclays decreased their target price on Pet Valu from C$28.00 to C$27.00 in a research report on Wednesday.

Pet Valu Stock Up 1.7 %

TSE PET traded up C$0.42 during mid-day trading on Thursday, reaching C$25.37. 126,091 shares of the stock were exchanged, compared to its average volume of 71,382. The stock has a market cap of C$1.82 billion, a P/E ratio of 22.25 and a beta of 0.81. The business has a 50 day simple moving average of C$25.54. Pet Valu has a 1 year low of C$23.58 and a 1 year high of C$32.90.

Pet Valu Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 1.73%. The ex-dividend date is Friday, November 29th. Pet Valu's payout ratio is 38.60%.

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.