Petmed Express (NASDAQ:PETS) Issues Earnings Results, Misses Expectations By $0.10 EPS

Petmed Express logo Petmed Express (NASDAQ:PETS) issued its earnings results on Tuesday, January 22nd. The company reported $0.38 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by ($0.10), MarketWatch Earnings reports. The business had revenue of $60.10 million during the quarter, compared to analyst estimates of $64.22 million. Petmed Express had a return on equity of 32.89% and a net margin of 14.43%. The business’s quarterly revenue was up .0% on a year-over-year basis. During the same period last year, the business earned $0.44 EPS.

PETS opened at $23.02 on Thursday. The firm has a market cap of $461.44 million, a P/E ratio of 11.05 and a beta of 0.74. Petmed Express has a 1 year low of $20.25 and a 1 year high of $48.32.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 15th. Investors of record on Monday, February 4th will be given a dividend of $0.27 per share. The ex-dividend date is Friday, February 1st. This represents a $1.08 dividend on an annualized basis and a yield of 4.69%.

Several analysts have recently commented on the company. BidaskClub cut Petmed Express from a “hold” rating to a “sell” rating in a research report on Wednesday, October 3rd. ValuEngine raised Petmed Express from a “strong sell” rating to a “sell” rating in a research report on Friday, October 26th. TheStreet cut Petmed Express from a “b” rating to a “c+” rating in a research report on Thursday, November 29th. Finally, Craig Hallum reduced their price objective on Petmed Express from $25.00 to $18.00 and set a “sell” rating for the company in a research report on Wednesday, January 23rd. Three analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. The stock has a consensus rating of “Sell” and an average target price of $28.00.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in Petmed Express by 4.3% during the third quarter. BlackRock Inc. now owns 3,042,857 shares of the company’s stock valued at $100,446,000 after purchasing an additional 125,194 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Petmed Express by 5.8% during the third quarter. Renaissance Technologies LLC now owns 1,748,415 shares of the company’s stock valued at $57,715,000 after buying an additional 96,215 shares in the last quarter. Epoch Investment Partners Inc. raised its holdings in Petmed Express by 71.4% during the third quarter. Epoch Investment Partners Inc. now owns 857,722 shares of the company’s stock valued at $28,313,000 after buying an additional 357,304 shares in the last quarter. Penserra Capital Management LLC raised its holdings in Petmed Express by 20.2% during the third quarter. Penserra Capital Management LLC now owns 485,493 shares of the company’s stock valued at $16,026,000 after buying an additional 81,648 shares in the last quarter. Finally, Copeland Capital Management LLC raised its holdings in Petmed Express by 15.2% during the fourth quarter. Copeland Capital Management LLC now owns 387,823 shares of the company’s stock valued at $9,020,000 after buying an additional 51,283 shares in the last quarter. 95.48% of the stock is owned by hedge funds and other institutional investors.

About Petmed Express

PetMed Express, Inc and its subsidiaries, doing business as 1-800-PetMeds, operates as a pet pharmacy in the United States. It markets prescription and non-prescription pet medications, and other health products for dogs and cats directly to the consumers. The company offers non-prescription medications and supplies, including flea and tick control products, bone and joint care products, vitamins, treats, nutritional supplements, hygiene products, and supplies; and prescription medications, such as heartworm preventative, flea and tick preventative, arthritis, thyroid, diabetes, pain, heart/blood pressure, and other specialty medications, as well as generic substitutes.

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