Raymond James Estimates Pet Valu’s FY2024 Earnings (TSE:PET)

Pet Valu Holdings Ltd. (TSE:PET) – Raymond James increased their FY2024 earnings per share estimates for Pet Valu in a research report issued to clients and investors on Tuesday, November 5th. Raymond James analyst M. Glen now anticipates that the company will post earnings of $1.51 per share for the year, up from their previous estimate of $1.45. The consensus estimate for Pet Valu’s current full-year earnings is $1.68 per share.

PET has been the topic of a number of other research reports. Cormark cut shares of Pet Valu from a “moderate buy” rating to a “hold” rating in a report on Wednesday. Royal Bank of Canada boosted their target price on Pet Valu from C$34.00 to C$35.00 in a research note on Wednesday. TD Securities dropped their price target on Pet Valu from C$32.00 to C$30.00 and set a “buy” rating on the stock in a research report on Wednesday. Barclays decreased their price objective on Pet Valu from C$28.00 to C$27.00 in a report on Wednesday. Finally, Cibc World Mkts raised shares of Pet Valu to a “strong-buy” rating in a report on Wednesday, August 7th.

Pet Valu Trading Up 1.9 %

Shares of PET stock opened at C$25.84 on Friday. Pet Valu has a 52 week low of C$23.58 and a 52 week high of C$32.90. The stock has a 50-day moving average of C$25.57. The company has a market capitalization of C$1.85 billion, a price-to-earnings ratio of 22.67 and a beta of 0.81.

Pet Valu (TSE:PET) last issued its quarterly earnings results on Tuesday, November 5th. The company reported C$0.41 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.35 by C$0.06. Pet Valu had a net margin of 7.64% and a return on equity of 128.24%. The company had revenue of C$276.03 million for the quarter, compared to the consensus estimate of C$267.68 million.

Pet Valu Cuts Dividend

The business also recently declared 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. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.70%. 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.