Cormark Weighs in on Pet Valu’s FY2024 Earnings (TSE:PET)

Pet Valu Holdings Ltd. (TSE:PET) – Cormark decreased their FY2024 earnings per share (EPS) estimates for Pet Valu in a research note issued to investors on Wednesday, November 6th. Cormark analyst K. Mcphee now anticipates that the company will post earnings per share of $1.50 for the year, down from their prior forecast 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.

Pet Valu (TSE:PET) last announced its quarterly earnings data on Tuesday, November 5th. The company reported C$0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 128.24% and a net margin of 7.64%.

Other research analysts have also issued reports about the stock. Raymond James reduced their price objective on shares of Pet Valu from C$36.00 to C$34.00 in a research note on Wednesday. Cibc World Mkts upgraded Pet Valu to a “strong-buy” rating in a research note on Wednesday, August 7th. TD Securities dropped their price objective on Pet Valu from C$32.00 to C$30.00 and set a “buy” rating on the stock in a report on Wednesday. Barclays reduced their target price on Pet Valu from C$28.00 to C$27.00 in a report on Wednesday. Finally, Royal Bank of Canada increased their price target on shares of Pet Valu from C$34.00 to C$35.00 in a report on Wednesday.

Pet Valu Price Performance

PET opened at C$24.95 on Thursday. The stock has a market capitalization of C$1.79 billion, a P/E ratio of 21.89 and a beta of 0.81. The stock has a 50-day simple moving average of C$25.51. Pet Valu has a twelve month low of C$23.58 and a twelve month high of C$32.90.

Pet Valu Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 16th will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 1.76%. The ex-dividend date of this dividend 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.