Cormark Issues Pessimistic Forecast for Pet Valu Earnings

Pet Valu Holdings Ltd. (TSE:PET) – Equities researchers at Cormark decreased their FY2024 earnings estimates for shares of Pet Valu in a research report issued to clients and investors 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 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 posted its quarterly earnings data on Tuesday, November 5th. 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. The firm had revenue of C$276.03 million for the quarter, compared to the consensus estimate of C$267.68 million. Pet Valu had a net margin of 7.64% and a return on equity of 128.24%.

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

Pet Valu Trading Up 1.7 %

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 stock has a market capitalization of C$1.82 billion, a P/E ratio of 22.25 and a beta of 0.81. The stock’s fifty day moving average is C$25.54.

Pet Valu Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 1.73%. The ex-dividend date of this dividend is Friday, November 29th. Pet Valu’s payout ratio is currently 38.60%.

About Pet Valu

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.