PetIQ (NASDAQ:PETQ) Releases Quarterly Earnings Results, Beats Expectations By $0.25 EPS

PetIQ (NASDAQ:PETQGet Rating) announced its quarterly earnings results on Wednesday. The company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.25, MarketWatch Earnings reports. PetIQ had a positive return on equity of 10.90% and a negative net margin of 1.56%. The firm had revenue of $275.70 million for the quarter, compared to analysts’ expectations of $269.45 million. During the same period in the prior year, the business posted $0.31 earnings per share. The company’s revenue was up 8.4% on a year-over-year basis.

Shares of NASDAQ PETQ traded up $0.40 during midday trading on Friday, hitting $18.00. 379,815 shares of the company’s stock were exchanged, compared to its average volume of 241,215. PetIQ has a 12-month low of $16.90 and a 12-month high of $44.01. The company has a current ratio of 3.04, a quick ratio of 2.06 and a debt-to-equity ratio of 1.77. The company has a market cap of $529.38 million, a price-to-earnings ratio of -35.29, a PEG ratio of 1.04 and a beta of 1.55. The business’s fifty day moving average price is $22.35 and its two-hundred day moving average price is $21.90.

Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its stake in PetIQ by 5.8% in the fourth quarter. BlackRock Inc. now owns 2,481,290 shares of the company’s stock worth $56,351,000 after buying an additional 136,726 shares in the last quarter. Millennium Management LLC boosted its stake in PetIQ by 35.0% in the fourth quarter. Millennium Management LLC now owns 639,066 shares of the company’s stock worth $14,513,000 after buying an additional 165,641 shares in the last quarter. Allianz Asset Management GmbH boosted its stake in PetIQ by 87.9% in the fourth quarter. Allianz Asset Management GmbH now owns 536,768 shares of the company’s stock worth $12,190,000 after buying an additional 251,121 shares in the last quarter. Geode Capital Management LLC boosted its stake in PetIQ by 4.8% in the fourth quarter. Geode Capital Management LLC now owns 452,181 shares of the company’s stock worth $10,269,000 after buying an additional 20,680 shares in the last quarter. Finally, Morgan Stanley boosted its stake in PetIQ by 206.4% in the second quarter. Morgan Stanley now owns 372,895 shares of the company’s stock worth $14,393,000 after buying an additional 251,182 shares in the last quarter. 97.45% of the stock is owned by institutional investors.

Several equities research analysts have recently weighed in on the company. Raymond James decreased their price target on PetIQ from $32.00 to $29.00 and set an “outperform” rating on the stock in a research report on Thursday, March 3rd. Truist Financial cut their price objective on PetIQ from $35.00 to $30.00 in a report on Tuesday, March 22nd. Finally, Zacks Investment Research raised PetIQ from a “strong sell” rating to a “hold” rating in a report on Wednesday. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, PetIQ has a consensus rating of “Buy” and a consensus price target of $29.20.

PetIQ Company Profile (Get Rating)

PetIQ, Inc operates as a pet medication and wellness company in the United States and internationally. It operates in two segments, Products and Services. The company offers Rx pet medications, which include flea and tick control, heartworm preventatives, arthritis, thyroid, diabetes and pain treatments, antibiotics, and other specialty medications; and develops and manufactures its own proprietary value-branded products, as well as distributes third-party branded medications.

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Earnings History for PetIQ (NASDAQ:PETQ)

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