Royal Bank of Canada Issues Positive Forecast for Pet Valu (TSE:PET) Stock Price

Pet Valu (TSE:PET) had its target price hoisted by Royal Bank of Canada from C$34.00 to C$35.00 in a report released on Wednesday morning,BayStreet.CA reports.

Other equities analysts also recently issued research reports about the stock. Cibc World Mkts upgraded shares of Pet Valu to a “strong-buy” rating in a report on Wednesday, August 7th. Barclays cut their price target on shares of Pet Valu from C$28.00 to C$27.00 in a report on Wednesday.

Pet Valu Trading Up 1.9 %

PET opened at C$25.84 on Wednesday. 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$1.85 billion, a P/E ratio of 22.67 and a beta of 0.81. The firm’s 50-day moving average is C$25.57.

Pet Valu (TSE:PET) last posted its quarterly earnings data on Tuesday, November 5th. The company reported C$0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.35 by C$0.06. Pet Valu had a net margin of 7.64% and a return on equity of 128.24%. The firm had revenue of C$276.03 million for the quarter, compared to the consensus estimate of C$267.68 million. On average, research analysts expect 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 given a $0.11 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.44 annualized dividend and a yield of 1.70%. Pet Valu’s dividend payout ratio is presently 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.