Pet Valu (TSE:PET) Lowered to “Hold” Rating by Cormark

Cormark downgraded shares of Pet Valu (TSE:PET) from a moderate buy rating to a hold rating in a research note published on Wednesday morning,Zacks.com reports. Cormark also issued estimates for Pet Valu’s FY2024 earnings at $1.50 EPS, FY2025 earnings at $1.56 EPS, FY2026 earnings at $1.67 EPS and FY2027 earnings at $2.00 EPS.

PET has been the subject of several other reports. TD Securities dropped their price target on Pet Valu from C$32.00 to C$30.00 and set a “buy” rating for the company in a research report on Wednesday. Royal Bank of Canada boosted their price target on Pet Valu from C$34.00 to C$35.00 in a research report on Wednesday. Raymond James dropped their price target on Pet Valu from C$36.00 to C$34.00 in a research report on Wednesday. Barclays dropped their price target on Pet Valu from C$28.00 to C$27.00 in a research report on Wednesday. Finally, Cibc World Mkts raised Pet Valu to a “strong-buy” rating in a research note on Wednesday, August 7th.

Pet Valu Price Performance

Pet Valu stock opened at C$25.84 on Wednesday. The stock has a market capitalization of C$1.85 billion, a PE ratio of 22.67 and a beta of 0.81. Pet Valu has a 12 month low of C$23.58 and a 12 month high of C$32.90. The firm has a 50 day simple moving average of C$25.57.

Pet Valu (TSE:PET) last posted its quarterly earnings data on Tuesday, November 5th. The company reported C$0.41 EPS for the quarter, beating analysts’ consensus estimates of C$0.35 by C$0.06. Pet Valu had a return on equity of 128.24% and a net margin of 7.64%. The business had revenue of C$276.03 million during the quarter, compared to analysts’ expectations of C$267.68 million. Equities analysts forecast that Pet Valu will post 1.6820546 EPS for the current fiscal year.

Pet Valu Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date of this dividend is Friday, November 29th. Pet Valu’s dividend payout ratio (DPR) is currently 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.