Zacks: Analysts Anticipate PetIQ Inc (PETQ) to Post $0.25 Earnings Per Share

Wall Street brokerages forecast that PetIQ Inc (NASDAQ:PETQ) will announce earnings per share of $0.25 for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for PetIQ’s earnings. The highest EPS estimate is $0.28 and the lowest is $0.23. PetIQ reported earnings per share of $0.29 during the same quarter last year, which indicates a negative year over year growth rate of 13.8%. The company is scheduled to report its next earnings report on Monday, November 5th.

On average, analysts expect that PetIQ will report full-year earnings of $0.81 per share for the current year, with EPS estimates ranging from $0.75 to $0.85. For the next financial year, analysts expect that the firm will report earnings of $0.97 per share, with EPS estimates ranging from $0.87 to $1.00. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that follow PetIQ.

PetIQ (NASDAQ:PETQ) last announced its quarterly earnings results on Tuesday, August 14th. The company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. PetIQ had a positive return on equity of 11.40% and a negative net margin of 0.76%. The firm had revenue of $171.10 million for the quarter, compared to analysts’ expectations of $148.48 million. PetIQ’s revenue for the quarter was up 96.2% compared to the same quarter last year.

Several analysts have recently commented on the company. Jefferies Financial Group restated a “buy” rating on shares of PetIQ in a report on Friday, August 24th. SunTrust Banks increased their target price on PetIQ to $40.00 and gave the stock a “buy” rating in a report on Wednesday, August 15th. ValuEngine upgraded PetIQ from a “hold” rating to a “buy” rating in a report on Thursday, July 12th. BidaskClub upgraded PetIQ from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 28th. Finally, Zacks Investment Research upgraded PetIQ from a “sell” rating to a “hold” rating in a report on Wednesday, June 6th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $33.33.

In other news, CFO John Newland sold 5,500 shares of the stock in a transaction on Thursday, June 21st. The stock was sold at an average price of $24.53, for a total transaction of $134,915.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Mccord Christensen sold 13,652 shares of the stock in a transaction on Friday, June 15th. The stock was sold at an average price of $23.00, for a total value of $313,996.00. The disclosure for this sale can be found here. Insiders have sold 242,974 shares of company stock worth $7,930,882 in the last 90 days. Company insiders own 45.26% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Gradient Investments LLC acquired a new position in shares of PetIQ during the second quarter valued at $1,068,000. AMI Asset Management Corp lifted its stake in shares of PetIQ by 26.5% during the second quarter. AMI Asset Management Corp now owns 558,108 shares of the company’s stock valued at $14,991,000 after acquiring an additional 116,852 shares during the period. Nepsis Inc. lifted its stake in shares of PetIQ by 2.5% during the second quarter. Nepsis Inc. now owns 274,370 shares of the company’s stock valued at $7,370,000 after acquiring an additional 6,767 shares during the period. Pembroke Management LTD acquired a new position in shares of PetIQ during the second quarter valued at $18,637,000. Finally, Schwab Charles Investment Management Inc. lifted its stake in shares of PetIQ by 29.1% during the first quarter. Schwab Charles Investment Management Inc. now owns 16,400 shares of the company’s stock valued at $437,000 after acquiring an additional 3,700 shares during the period. 74.15% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ:PETQ traded up $2.16 during trading hours on Friday, reaching $41.93. The company had a trading volume of 769,638 shares, compared to its average volume of 473,602. PetIQ has a one year low of $17.03 and a one year high of $42.75. The stock has a market capitalization of $992.92 million, a price-to-earnings ratio of 107.51, a price-to-earnings-growth ratio of 2.03 and a beta of 0.26. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.00 and a quick ratio of 0.90.

About PetIQ

PetIQ, Inc develops, manufactures, and distributes pet medications, and health and wellness products for dogs and cats in the United States, Canada, and Europe. It offers pet prescription medications, including products for arthritis, thyroid, and diabetes and pain treatments, as well as heartworm preventatives, antibiotics, and other specialty medications; over-the-counter medications and supplies, such as flea and tick control products in various forms comprising spot on treatments, chewables, and collars; and health and wellness products consisting of specialty treats and other pet products, which include dental treats and nutritional supplements.

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