Covetrus (CVET) Announces Quarterly Earnings Results

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Covetrus (NASDAQ:CVET) announced its earnings results on Wednesday. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.03), MarketWatch Earnings reports. The business had revenue of $941.00 million for the quarter, compared to analyst estimates of $993.41 million. During the same period in the previous year, the firm posted $0.18 EPS. Covetrus’s revenue was down .6% compared to the same quarter last year.

Shares of CVET traded up $0.73 during mid-day trading on Wednesday, reaching $29.89. The company’s stock had a trading volume of 67,108 shares, compared to its average volume of 990,787. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.91 and a current ratio of 1.90. Covetrus has a 52 week low of $27.02 and a 52 week high of $43.83.

A number of brokerages have recently weighed in on CVET. Cleveland Research began coverage on shares of Covetrus in a report on Friday, May 10th. They issued a “hold” rating for the company. Credit Suisse Group began coverage on shares of Covetrus in a report on Thursday, April 4th. They issued a “neutral” rating and a $35.00 price objective for the company. Svb Leerink restated an “outperform” rating on shares of Covetrus in a report on Wednesday, March 20th. Raymond James began coverage on shares of Covetrus in a report on Wednesday, February 27th. They issued an “outperform” rating and a $45.00 price objective for the company. Finally, William Blair began coverage on shares of Covetrus in a report on Tuesday, February 12th. They issued an “outperform” rating for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. Covetrus presently has a consensus rating of “Hold” and a consensus price target of $40.00.

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Covetrus Company Profile

Covetrus, Inc engages in developing technologies and services for animal health industry. It also provides products, software, and services to help drive improved patient health, strong client relationships, and successful financial outcomes for veterinary professionals. The company was founded on April 13, 2018 and is headquartered in Melville, NY.

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