Cormark cut shares of Pet Valu (TSE:PET - Free Report) from a moderate buy rating to a hold rating in a research report report published on Wednesday morning,Zacks.com reports. Cormark also issued estimates for Pet Valu's FY2024 earnings at $1.50 EPS, FY2025 earnings at $1.56 EPS, FY2026 earnings at $1.67 EPS and FY2027 earnings at $2.00 EPS.
PET has been the subject of several other reports. Cibc World Mkts upgraded Pet Valu to a "strong-buy" rating in a research report on Wednesday, August 7th. Royal Bank of Canada boosted their price objective on Pet Valu from C$34.00 to C$35.00 in a report on Wednesday. Raymond James decreased their price objective on shares of Pet Valu from C$36.00 to C$34.00 in a research report on Wednesday. TD Securities dropped their target price 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. Finally, Barclays decreased their price target on shares of Pet Valu from C$28.00 to C$27.00 in a report on Wednesday.
Check Out Our Latest Stock Report on PET
Pet Valu Trading Up 1.7 %
Shares of Pet Valu stock traded up C$0.42 on Wednesday, reaching C$25.37. The stock had a trading volume of 126,091 shares, compared to its average volume of 71,382. The stock's 50 day moving average price is C$25.54. Pet Valu has a 1 year low of C$23.58 and a 1 year high of C$32.90. The stock has a market capitalization of C$1.82 billion, a P/E ratio of 22.25 and a beta of 0.81.
Pet Valu (TSE:PET - Get Free Report) last posted its earnings results on Tuesday, November 5th. The company reported C$0.41 earnings per share (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 analysts' expectations of C$267.68 million. Pet Valu had a net margin of 7.64% and a return on equity of 128.24%. On average, research analysts forecast that Pet Valu will post 1.6820546 EPS for the current fiscal year.
Pet Valu Cuts Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a $0.11 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.44 dividend on an annualized basis and a yield of 1.73%. Pet Valu's payout ratio is 38.60%.
About Pet Valu
(
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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.
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