Royal Bank of Canada Issues Positive Forecast for Pet Valu (TSE:PET) Stock Price

Pet Valu (TSE:PET) had its price target increased by Royal Bank of Canada from C$34.00 to C$35.00 in a research report report published on Wednesday,BayStreet.CA reports.

Several other brokerages also recently weighed in on PET. Barclays cut their target price on shares of Pet Valu from C$28.00 to C$27.00 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.

Pet Valu Price Performance

TSE:PET opened at C$25.84 on Wednesday. Pet Valu has a fifty-two week low of C$23.58 and a fifty-two week high of C$32.90. The business’s 50 day moving average is C$25.57. The stock has a market cap of C$1.85 billion, a PE ratio of 22.67 and a beta of 0.81.

Pet Valu (TSE:PET) last posted its quarterly earnings data on Tuesday, November 5th. The company reported C$0.41 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of C$267.68 million. On average, equities analysts predict that Pet Valu will post 1.6820546 earnings per share for the current year.

Pet Valu Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a $0.11 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.70%. 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.