National Bank Financial Comments on Pet Valu FY2024 Earnings

Pet Valu Holdings Ltd. (TSE:PET) – National Bank Financial reduced their FY2024 earnings per share estimates for Pet Valu in a research note issued on Tuesday, November 5th. National Bank Financial analyst V. Shreedhar now expects that the company will post earnings of $1.51 per share for the year, down from their prior estimate of $1.52. The consensus estimate for Pet Valu’s current full-year earnings is $1.68 per share. National Bank Financial also issued estimates for Pet Valu’s Q4 2024 earnings at $0.39 EPS, Q2 2025 earnings at $0.37 EPS, Q4 2025 earnings at $0.45 EPS, FY2025 earnings at $1.58 EPS and FY2026 earnings at $1.82 EPS.

A number of other equities research analysts have also issued reports on the stock. TD Securities decreased their target price on shares of Pet Valu from C$32.00 to C$30.00 and set a “buy” rating for the company in a research note on Wednesday. Cormark downgraded Pet Valu from a “moderate buy” rating to a “hold” rating in a research note on Wednesday. Raymond James cut their price target on Pet Valu from C$36.00 to C$34.00 in a research note on Wednesday. Cibc World Mkts raised Pet Valu to a “strong-buy” rating in a research note on Wednesday, August 7th. Finally, Royal Bank of Canada increased their price objective on Pet Valu from C$34.00 to C$35.00 in a report on Wednesday.

Pet Valu Stock Performance

PET stock opened at C$24.95 on Thursday. The stock’s 50 day moving average is C$25.51. Pet Valu has a 52 week low of C$23.58 and a 52 week high of C$32.90. The firm has a market capitalization of C$1.79 billion, a PE ratio of 21.89 and a beta of 0.81.

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

Pet Valu Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 16th will be given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date of this dividend is Friday, November 29th. Pet Valu’s dividend payout ratio is 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.