Cormark Has Negative Outlook for Pet Valu FY2024 Earnings

Pet Valu Holdings Ltd. (TSE:PET) – Equities researchers at Cormark dropped their FY2024 EPS estimates for shares of Pet Valu in a research note issued on Wednesday, November 6th. Cormark analyst K. Mcphee now forecasts that the company will post earnings per share of $1.50 for the year, down from their prior estimate of $1.53. Cormark 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.

Several other research analysts have also weighed in on PET. Royal Bank of Canada lifted their price objective on shares of Pet Valu from C$34.00 to C$35.00 in a research note on Wednesday. Raymond James decreased their price target on shares of Pet Valu from C$36.00 to C$34.00 in a research note on Wednesday. Cibc World Mkts raised Pet Valu to a “strong-buy” rating in a research report on Wednesday, August 7th. TD Securities lowered their price target on Pet Valu from C$32.00 to C$30.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Barclays cut their price objective on Pet Valu from C$28.00 to C$27.00 in a report on Wednesday.

Pet Valu Stock Up 1.7 %

Shares of TSE PET opened at C$25.37 on Thursday. Pet Valu has a 1 year low of C$23.58 and a 1 year high of C$32.90. The company has a market cap of C$1.82 billion, a price-to-earnings ratio of 22.25 and a beta of 0.81. The company has a 50-day simple moving average of C$25.54.

Pet Valu (TSE:PET) last released its quarterly earnings results on Tuesday, November 5th. The company reported C$0.41 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.35 by C$0.06. Pet Valu had a return on equity of 128.24% and a net margin of 7.64%. The firm had revenue of C$276.03 million during the quarter, compared to analysts’ expectations of C$267.68 million.

Pet Valu Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid 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 dividend payout ratio (DPR) 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.