Petco Health and Wellness (NASDAQ:WOOF) Issues Earnings Results, Beats Estimates By $0.02 EPS

Petco Health and Wellness (NASDAQ:WOOF – Get Rating) posted its earnings results on Tuesday. The company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.02, MarketWatch Earnings reports. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.45 billion. Petco Health and Wellness had a net margin of 2.83% and a return on equity of 9.49%. The firm’s revenue was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.17 EPS. Petco Health and Wellness updated its FY23 guidance to $0.97-1.00 EPS and its FY 2022 guidance to $0.97-$1.00 EPS.

NASDAQ:WOOF traded up $0.49 on Tuesday, reaching $15.09. 233,682 shares of the company’s stock traded hands, compared to its average volume of 2,259,564. The stock has a 50-day simple moving average of $19.79 and a 200-day simple moving average of $19.59. Petco Health and Wellness has a 12 month low of $14.38 and a 12 month high of $28.73. The firm has a market cap of $3.43 billion, a PE ratio of 22.98, a P/E/G ratio of 0.38 and a beta of 1.04. The company has a quick ratio of 0.38, a current ratio of 1.02 and a debt-to-equity ratio of 0.73.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. MetLife Investment Management LLC bought a new stake in Petco Health and Wellness during the 1st quarter valued at approximately $25,000. Metropolitan Life Insurance Co NY raised its position in shares of Petco Health and Wellness by 442.5% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 1,264 shares of the company’s stock valued at $25,000 after buying an additional 1,031 shares during the last quarter. Advisors Asset Management Inc. purchased a new position in shares of Petco Health and Wellness in the fourth quarter worth $115,000. Point72 Hong Kong Ltd purchased a new position in shares of Petco Health and Wellness in the first quarter worth $154,000. Finally, Dimensional Fund Advisors LP bought a new position in shares of Petco Health and Wellness during the third quarter worth $225,000. 62.52% of the stock is owned by hedge funds and other institutional investors.

Several analysts recently commented on WOOF shares. Zacks Investment Research lowered Petco Health and Wellness from a “buy” rating to a “hold” rating in a report on Tuesday, February 8th. Wells Fargo & Company reaffirmed a “buy” rating and set a $30.00 price target on shares of Petco Health and Wellness in a research report on Thursday, March 24th. Wedbush raised their price objective on shares of Petco Health and Wellness from $23.00 to $25.00 and gave the stock an “outperform” rating in a report on Tuesday, March 29th. StockNews.com started coverage on shares of Petco Health and Wellness in a report on Thursday, March 31st. They set a “buy” rating for the company. Finally, Citigroup dropped their price target on shares of Petco Health and Wellness from $28.00 to $26.00 in a research note on Friday, May 13th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $24.33.

About Petco Health and Wellness (Get Rating)

Petco Health and Wellness Company, Inc, a health and wellness company, focuses on enhancing the lives of pets, pet parents, and its Petco partners. The company provides veterinary care, grooming, training, tele-health, and Vital Care and pet health insurance services, as well as veterinary services through Vetco mobile clinics.

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