PetIQ, Inc. (NASDAQ:PETQ) Expected to Announce Earnings of $0.37 Per Share

Equities analysts forecast that PetIQ, Inc. (NASDAQ:PETQ – Get Rating) will post earnings of $0.37 per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for PetIQ’s earnings, with the highest EPS estimate coming in at $0.45 and the lowest estimate coming in at $0.31. PetIQ posted earnings per share of $0.39 during the same quarter last year, which indicates a negative year over year growth rate of 5.1%. The firm is expected to announce its next earnings results after the market closes on Monday, January 1st.

On average, analysts expect that PetIQ will report full-year earnings of $1.09 per share for the current year, with EPS estimates ranging from $0.95 to $1.18. For the next financial year, analysts anticipate that the firm will post earnings of $1.70 per share, with EPS estimates ranging from $1.35 to $2.20. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow PetIQ.

PetIQ (NASDAQ:PETQ – Get Rating) last released its quarterly earnings results on Tuesday, March 1st. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.02). The company had revenue of $196.60 million during the quarter, compared to analysts’ expectations of $173.53 million. PetIQ had a negative net margin of 1.71% and a positive return on equity of 8.61%. The company’s quarterly revenue was up 19.7% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.20) earnings per share.

A number of research analysts have issued reports on PETQ shares. Truist Financial reduced their price objective on PetIQ from $35.00 to $30.00 in a research note on Tuesday, March 22nd. Zacks Investment Research downgraded PetIQ from a “buy” rating to a “hold” rating in a research note on Tuesday, March 1st. Finally, Raymond James cut their price target on PetIQ from $32.00 to $29.00 and set an “outperform” rating for the company in a research note on Thursday, March 3rd. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $29.20.

A number of institutional investors and hedge funds have recently modified their holdings of PETQ. Morgan Stanley lifted its holdings in PetIQ by 206.4% during the 2nd quarter. Morgan Stanley now owns 372,895 shares of the company’s stock worth $14,393,000 after purchasing an additional 251,182 shares in the last quarter. Nordea Investment Management AB lifted its holdings in PetIQ by 958.9% during the 3rd quarter. Nordea Investment Management AB now owns 96,732 shares of the company’s stock worth $2,532,000 after purchasing an additional 87,597 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of PetIQ by 376.4% in the 3rd quarter. SG Americas Securities LLC now owns 13,214 shares of the company’s stock valued at $330,000 after acquiring an additional 10,440 shares in the last quarter. AE Wealth Management LLC purchased a new stake in shares of PetIQ in the 3rd quarter valued at about $1,292,000. Finally, Bbva USA purchased a new stake in shares of PetIQ in the 3rd quarter valued at about $48,000. 96.20% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ:PETQ opened at $19.90 on Wednesday. The company has a debt-to-equity ratio of 1.77, a quick ratio of 2.06 and a current ratio of 3.04. The business has a fifty day moving average price of $22.37 and a two-hundred day moving average price of $22.11. PetIQ has a 1 year low of $17.10 and a 1 year high of $46.00.

PetIQ Company Profile (Get Rating)

PetIQ, Inc operates as a pet medication and wellness company in the United States and internationally. It operates in two segments, Products and Services. The company offers Rx pet medications, which include flea and tick control, heartworm preventatives, arthritis, thyroid, diabetes and pain treatments, antibiotics, and other specialty medications; and develops and manufactures its own proprietary value-branded products, as well as distributes third-party branded medications.

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