PetSmart (NASDAQ:PETM) was downgraded by Merrill Lynch from a “buy” rating to a “neutral” rating in a research note issued on Friday, Analyst Ratings Network reports.
A number of other analysts have also recently weighed in on PETM. Analysts at Bank of America Corp. downgraded shares of PetSmart from a “buy” rating to a “neutral” rating in a research note to investors on Friday. They now have a $80.00 price target on the stock, down previously from $90.00. Separately, analysts at McLean Capital Management downgraded shares of PetSmart from a “buy” rating to a “neutral” rating in a research note to investors on Friday, October 25th. Finally, analysts at ISI Group initiated coverage on shares of PetSmart in a research note to investors on Tuesday, October 22nd. They set a “neutral” rating on the stock. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have issued a buy rating to the stock. PetSmart presently has an average rating of “Hold” and an average price target of $74.92.
Shares of PetSmart (NASDAQ:PETM) traded down 1.11% during mid-day trading on Friday, hitting $71.94. 1,466,241 shares of the company’s stock traded hands. PetSmart has a 52-week low of $61.30 and a 52-week high of $77.32. The stock’s 50-day moving average is $73.69 and its 200-day moving average is $70.84. The company has a market cap of $7.475 billion and a P/E ratio of 18.87.
PetSmart (NASDAQ:PETM) last posted its quarterly earnings results on Wednesday, August 21st. The company reported $0.89 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.06 by $0.83. The company had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter last year, the company posted $0.71 earnings per share. PetSmart’s revenue was up 5.3% compared to the same quarter last year. Analysts expect that PetSmart will post $3.97 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, November 15th. Shareholders of record on Friday, November 1st will be given a dividend of $0.20 per share. This represents a $0.78 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date of this dividend is Wednesday, October 30th. This is a positive change from PetSmart’s previous quarterly dividend of $0.17.
PetSmart, Inc supplies products, services and solutions for the lifetime needs of pets. The Company operates a website for pet supplies, foods and different animal needs.
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