Covetrus Inc (NASDAQ:CVET) – G.Research reduced their FY2019 earnings per share estimates for Covetrus in a research note issued on Wednesday, August 14th. G.Research analyst K. Kedra now expects that the company will post earnings per share of $0.25 for the year, down from their prior forecast of $0.50. G.Research also issued estimates for Covetrus’ FY2020 earnings at $0.55 EPS, FY2021 earnings at $0.95 EPS, FY2022 earnings at $1.30 EPS and FY2023 earnings at $1.55 EPS.
A number of other brokerages have also recently weighed in on CVET. Credit Suisse Group set a $15.00 price objective on Covetrus and gave the company a “hold” rating in a research note on Friday, August 16th. Cleveland Research started coverage on Covetrus in a research note on Friday, May 10th. They issued a “hold” rating for the company. Stifel Nicolaus dropped their price objective on Covetrus from $30.00 to $18.00 and set a “hold” rating for the company in a research note on Wednesday, August 14th. Guggenheim started coverage on Covetrus in a report on Thursday, May 23rd. They issued a “neutral” rating for the company. Finally, Raymond James decreased their target price on Covetrus from $45.00 to $21.00 and set an “outperform” rating for the company in a report on Thursday, August 15th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $20.75.
Covetrus (NASDAQ:CVET) last issued its quarterly earnings data on Tuesday, August 13th. The company reported $0.12 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.04). The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.05 billion.
A hedge fund recently bought a new stake in Covetrus stock. Gamble Jones Investment Counsel bought a new stake in Covetrus Inc (NASDAQ:CVET) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 77,986 shares of the company’s stock, valued at approximately $1,908,000. Gamble Jones Investment Counsel owned 0.07% of Covetrus at the end of the most recent quarter. 75.10% of the stock is owned by institutional investors.
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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