Pet Valu (TSE:PET) Announces Earnings Results, Beats Expectations By $0.06 EPS

Pet Valu (TSE:PET) issued its quarterly earnings data on Tuesday. The company reported C$0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.35 by C$0.06, reports. Pet Valu had a return on equity of 128.24% and a net margin of 7.64%. The company had revenue of C$276.03 million during the quarter, compared to the consensus estimate of C$267.68 million.

Pet Valu Price Performance

Shares of TSE PET opened at C$24.95 on Thursday. Pet Valu has a 1 year low of C$23.58 and a 1 year high of C$32.90. The firm has a market capitalization of C$1.79 billion, a PE ratio of 21.89 and a beta of 0.81. The firm’s 50-day simple moving average is C$25.51.

Pet Valu Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.11 per share. 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 1.76%. Pet Valu’s dividend payout ratio (DPR) is presently 38.60%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Royal Bank of Canada boosted their price objective on Pet Valu from C$34.00 to C$35.00 in a research note on Wednesday. Barclays dropped their price target on Pet Valu from C$28.00 to C$27.00 in a research note on Wednesday. Cibc World Mkts raised shares of Pet Valu to a “strong-buy” rating in a research report on Wednesday, August 7th. Cormark downgraded shares of Pet Valu from a “moderate buy” rating to a “hold” rating in a research report on Wednesday. Finally, TD Securities cut their target price on shares of Pet Valu from C$32.00 to C$30.00 and set a “buy” rating on the stock in a research note on Wednesday.

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.