Petco Health and Wellness (NASDAQ:WOOF) Releases Q3 2024 Earnings Guidance

Petco Health and Wellness (NASDAQ:WOOF) issued an update on its third quarter 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of -0.040–0.030 for the period, compared to the consensus EPS estimate of -0.030. The company issued revenue guidance of $1.5 billion-$1.5 billion, compared to the consensus revenue estimate of $1.5 billion. Petco Health and Wellness also updated its Q3 guidance to $(0.04)-(0.03) EPS.

Petco Health and Wellness Stock Performance

Shares of Petco Health and Wellness stock opened at $3.07 on Wednesday. The business has a 50-day simple moving average of $3.06 and a 200 day simple moving average of $2.72. Petco Health and Wellness has a one year low of $1.41 and a one year high of $5.01. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.85 and a quick ratio of 0.21. The firm has a market capitalization of $954.09 million, a price-to-earnings ratio of -0.62 and a beta of 1.88.

Petco Health and Wellness (NASDAQ:WOOF) last released its quarterly earnings data on Tuesday, September 10th. The company reported ($0.02) EPS for the quarter, meeting the consensus estimate of ($0.02). Petco Health and Wellness had a negative return on equity of 4.22% and a negative net margin of 21.27%. The firm had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the previous year, the company posted ($0.01) earnings per share. The company’s quarterly revenue was down .5% on a year-over-year basis. On average, research analysts anticipate that Petco Health and Wellness will post -0.24 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Royal Bank of Canada raised their price objective on shares of Petco Health and Wellness from $2.70 to $3.00 and gave the company an outperform rating in a research note on Friday, May 24th. Citigroup raised their price target on shares of Petco Health and Wellness from $3.00 to $4.00 and gave the company a neutral rating in a research report on Friday, July 19th. UBS Group boosted their price objective on Petco Health and Wellness from $2.50 to $3.25 and gave the stock a neutral rating in a report on Thursday, May 23rd. Wedbush restated an outperform rating and issued a $5.00 target price (up previously from $4.00) on shares of Petco Health and Wellness in a report on Thursday, July 18th. Finally, Needham & Company LLC reaffirmed a buy rating and set a $5.00 target price on shares of Petco Health and Wellness in a research report on Thursday, May 23rd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of Hold and a consensus price target of $3.36.

Petco Health and Wellness Company Profile

Petco Health and Wellness Company, Inc, operates as a health and wellness company, focuses on enhancing the lives of pets, pet parents, and its Petco partners in the United States, Mexico, and Puerto Rico. The company provides veterinary care, grooming, training, tele-health, and Vital Care and pet health insurance services, as well as veterinary services through Vetco mobile clinics.