Petco Health and Wellness (NASDAQ:WOOF) Updates Q3 2024 Earnings Guidance

Petco Health and Wellness (NASDAQ:WOOF) updated its third quarter 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of -0.040–0.030 for the period, compared to the consensus estimate of -0.030. The company issued revenue guidance of $1.5 billion-$1.5 billion, compared to the consensus revenue estimate of $1.5 billion. Petco Health and Wellness also updated its Q3 guidance to $(0.04)-(0.03) EPS.

Analyst Ratings Changes

Several research firms recently issued reports on WOOF. Citigroup raised their target price on Petco Health and Wellness from $3.00 to $4.00 and gave the stock a neutral rating in a research note on Friday, July 19th. Wedbush restated an outperform rating and set a $5.00 price objective (up from $4.00) on shares of Petco Health and Wellness in a research report on Thursday, July 18th. Needham & Company LLC restated a buy rating and set a $5.00 price target on shares of Petco Health and Wellness in a research note on Thursday, May 23rd. Royal Bank of Canada increased their target price on shares of Petco Health and Wellness from $2.70 to $3.00 and gave the stock an outperform rating in a report on Friday, May 24th. Finally, UBS Group boosted their price target on shares of Petco Health and Wellness from $2.50 to $3.25 and gave the company a neutral rating in a report on Thursday, May 23rd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $3.36.

Petco Health and Wellness Stock Up 7.7 %

Shares of NASDAQ WOOF traded up $0.22 on Tuesday, hitting $3.07. The company had a trading volume of 7,491,409 shares, compared to its average volume of 4,606,199. The firm has a market capitalization of $954.09 million, a P/E ratio of -0.62 and a beta of 1.88. The business has a 50 day moving average of $3.07 and a two-hundred day moving average of $2.72. The company has a quick ratio of 0.21, a current ratio of 0.85 and a debt-to-equity ratio of 1.35. Petco Health and Wellness has a 12-month low of $1.41 and a 12-month high of $5.01.

Petco Health and Wellness (NASDAQ:WOOF) last issued its quarterly earnings results on Tuesday, September 10th. The company reported ($0.02) EPS for the quarter, hitting analysts’ consensus estimates of ($0.02). Petco Health and Wellness had a negative return on equity of 4.22% and a negative net margin of 21.27%. The company had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same period in the previous year, the company earned ($0.01) earnings per share. The company’s quarterly revenue was down .5% compared to the same quarter last year. As a group, equities research analysts forecast that Petco Health and Wellness will post -0.24 earnings per share for the current fiscal year.

About Petco Health and Wellness

Petco Health and Wellness Company, Inc, operates as a health and wellness company, focuses on enhancing the lives of pets, pet parents, and its Petco partners in the United States, Mexico, and Puerto Rico. 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.