PetMed Express, Inc. (PETS) Shares Gap Up on Better-Than-Expected Earnings

Shares of PetMed Express, Inc. (NASDAQ:PETS) gapped up prior to trading on Tuesday following a stronger than expected earnings report. The stock had previously closed at $42.48, but opened at $43.41. PetMed Express shares last traded at $38.15, with a volume of 1,442,941 shares traded.

The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.13. PetMed Express had a return on equity of 28.67% and a net margin of 10.34%. The business had revenue of $66.70 million during the quarter, compared to analyst estimates of $63.41 million. During the same period in the prior year, the company earned $0.24 earnings per share. PetMed Express’s revenue was up 9.7% compared to the same quarter last year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 17th. Shareholders of record on Monday, November 6th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.08%. The ex-dividend date of this dividend is Friday, November 3rd. PetMed Express’s dividend payout ratio (DPR) is 61.54%.

Several equities analysts have weighed in on the company. Noble Financial reissued a “hold” rating on shares of PetMed Express in a report on Wednesday, July 26th. Northcoast Research raised PetMed Express from a “neutral” rating to a “buy” rating and set a $54.00 price objective for the company in a report on Monday, July 24th. Credit Suisse Group reissued an “underperform” rating and set a $19.00 price objective on shares of PetMed Express in a report on Monday, October 2nd. Zacks Investment Research lowered PetMed Express from a “strong-buy” rating to a “hold” rating in a report on Monday, September 25th. Finally, ValuEngine lowered PetMed Express from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $40.00.

In related news, Director Robert C. Schweitzer sold 2,500 shares of the stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $49.18, for a total value of $122,950.00. Following the sale, the director now owns 88,834 shares in the company, valued at $4,368,856.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ronald J. Korn sold 5,000 shares of the stock in a transaction on Friday, July 28th. The stock was sold at an average price of $48.18, for a total value of $240,900.00. Following the completion of the sale, the director now owns 67,333 shares in the company, valued at approximately $3,244,103.94. The disclosure for this sale can be found here. Insiders sold 19,333 shares of company stock worth $949,730 in the last quarter. 4.00% of the stock is currently owned by company insiders.

Hedge funds have recently modified their holdings of the stock. Acrospire Investment Management LLC purchased a new stake in shares of PetMed Express in the second quarter worth $110,000. Pinebridge Investments L.P. raised its position in shares of PetMed Express by 1.0% in the second quarter. Pinebridge Investments L.P. now owns 2,704 shares of the company’s stock worth $110,000 after buying an additional 27 shares in the last quarter. Fred Alger Management Inc. purchased a new stake in shares of PetMed Express in the second quarter worth $162,000. State of Alaska Department of Revenue raised its position in shares of PetMed Express by 76.7% in the second quarter. State of Alaska Department of Revenue now owns 4,028 shares of the company’s stock worth $163,000 after buying an additional 1,748 shares in the last quarter. Finally, Bayesian Capital Management LP purchased a new stake in shares of PetMed Express in the second quarter worth $203,000. Institutional investors own 81.09% of the company’s stock.

The stock has a 50 day moving average price of $35.93 and a 200 day moving average price of $36.42. The firm has a market cap of $778.60 million, a P/E ratio of 29.52 and a beta of 1.03.

TRADEMARK VIOLATION WARNING: This story was first posted by Ticker Report and is the sole property of of Ticker Report. If you are reading this story on another site, it was stolen and reposted in violation of United States and international trademark & copyright law. The original version of this story can be viewed at https://www.tickerreport.com/banking-finance/2981834/petmed-express-inc-pets-shares-gap-up-on-better-than-expected-earnings.html.

PetMed Express Company Profile

PetMed Express, Inc (PetMed Express), doing business as 1800PetMeds, is a pet pharmacy. The Company markets prescription and non-prescription pet medications, and other health products for dogs and cats, direct to the consumer. It offers a selection of products for dogs and cats. Its product line contains approximately 3,000 stock keeping units (SKUS) of pet medications, health products and supplies.

Receive News & Ratings for PetMed Express Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PetMed Express Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

How to Trade on Forex – 8 Steps for Beginners
How to Trade on Forex – 8 Steps for Beginners
Super Nintendo World Theme Park Officially Starts Construction
Super Nintendo World Theme Park Officially Starts Construction
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Camera Zooms In and Can Recognize Faces
Camera Zooms In and Can Recognize Faces
Netflix Could See 150 Million Worldwide Subscribers
Netflix Could See 150 Million Worldwide Subscribers
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back


© 2006-2017 Ticker Report. Google+.