PetIQ Inc (PETQ) to Post Q4 2018 Earnings of $0.11 Per Share, SunTrust Banks Forecasts
PetIQ Inc (NASDAQ:PETQ) – Research analysts at SunTrust Banks dropped their Q4 2018 earnings per share estimates for shares of PetIQ in a report issued on Tuesday, November 13th. SunTrust Banks analyst W. Chappell now forecasts that the company will earn $0.11 per share for the quarter, down from their previous estimate of $0.13. SunTrust Banks currently has a “Buy” rating and a $40.00 target price on the stock. SunTrust Banks also issued estimates for PetIQ’s Q1 2019 earnings at $0.06 EPS, Q2 2019 earnings at $0.37 EPS and FY2020 earnings at $1.29 EPS.
A number of other brokerages also recently issued reports on PETQ. CL King started coverage on PetIQ in a research note on Friday, September 28th. They issued a “buy” rating and a $49.00 price objective for the company. Raymond James restated a “buy” rating and issued a $45.00 price objective (up previously from $33.00) on shares of PetIQ in a research note on Wednesday, September 19th. BidaskClub downgraded PetIQ from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Jefferies Financial Group restated a “buy” rating on shares of PetIQ in a research note on Friday, August 24th. Finally, Oppenheimer upped their price objective on PetIQ from $28.00 to $50.00 and gave the company an “outperform” rating in a research note on Friday, October 5th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $41.83.
PetIQ (NASDAQ:PETQ) last announced its quarterly earnings data on Tuesday, November 13th. The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.22. The firm had revenue of $131.40 million during the quarter, compared to the consensus estimate of $125.22 million. PetIQ had a positive return on equity of 12.83% and a negative net margin of 0.12%. The business’s revenue for the quarter was up 116.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.30 EPS.
In other news, major shareholder Ecp Helios Partners Iv, L.P. sold 1,838,836 shares of the stock in a transaction on Monday, October 1st. The stock was sold at an average price of $37.15, for a total transaction of $68,312,757.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO John Newland sold 5,500 shares of the stock in a transaction on Monday, September 17th. The stock was sold at an average price of $40.76, for a total value of $224,180.00. The disclosure for this sale can be found here. Insiders have sold a total of 3,023,503 shares of company stock valued at $112,721,308 in the last quarter. 45.26% of the stock is owned by corporate insiders.
Hedge funds have recently bought and sold shares of the company. Gradient Investments LLC bought a new position in shares of PetIQ during the 2nd quarter worth $1,068,000. Gamco Investors INC. ET AL bought a new position in shares of PetIQ during the 2nd quarter worth $806,000. Rhumbline Advisers bought a new position in shares of PetIQ during the 2nd quarter worth $248,000. Royce & Associates LP bought a new position in shares of PetIQ during the 2nd quarter worth $672,000. Finally, State of New Jersey Common Pension Fund D grew its stake in shares of PetIQ by 6.4% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 1,000,000 shares of the company’s stock worth $39,310,000 after acquiring an additional 60,000 shares during the period.
PetIQ, Inc operates as a pet health and wellness company. It provides veterinarian services and veterinarian-grade pet products, including prescription (Rx) medications, over-the-counter (OTC) flea and tick preventatives, and health and wellness products for dogs and cats. The company 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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