Petco Health and Wellness (NASDAQ:WOOF) Issues Earnings Results

Petco Health and Wellness (NASDAQ:WOOF) released its earnings results on Tuesday. The company reported ($0.02) EPS for the quarter, hitting the consensus estimate of ($0.02), Briefing.com reports. The business had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.53 billion. Petco Health and Wellness had a negative return on equity of 4.22% and a negative net margin of 21.27%. The company’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.01) earnings per share. Petco Health and Wellness updated its Q3 guidance to $(0.04)-(0.03) EPS and its Q3 2024 guidance to -0.040–0.030 EPS.

Petco Health and Wellness Stock Performance

Shares of WOOF opened at $4.08 on Thursday. The business has a 50-day simple moving average of $3.08 and a two-hundred day simple moving average of $2.73. The company has a quick ratio of 0.21, a current ratio of 0.85 and a debt-to-equity ratio of 1.35. Petco Health and Wellness has a 52 week low of $1.41 and a 52 week high of $4.91. The stock has a market cap of $1.27 billion, a price-to-earnings ratio of -0.83 and a beta of 1.88.

Wall Street Analyst Weigh In

Several brokerages have commented on WOOF. Royal Bank of Canada increased their target price on Petco Health and Wellness from $3.00 to $3.50 and gave the company an “outperform” rating in a research note on Wednesday. Needham & Company LLC reiterated a “buy” rating and issued a $5.00 price objective on shares of Petco Health and Wellness in a report on Thursday, May 23rd. Wedbush restated an “outperform” rating and set a $5.00 target price on shares of Petco Health and Wellness in a research note on Wednesday. Citigroup increased their price objective on shares of Petco Health and Wellness from $3.00 to $4.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. Finally, UBS Group boosted their target price on shares of Petco Health and Wellness from $2.50 to $3.25 and gave the company a “neutral” rating in a research note on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $3.49.

About Petco Health and Wellness

Petco Health and Wellness Company, Inc, operates as a health and wellness company, focuses on enhancing the lives of pets, pet parents, and its Petco partners in the United States, Mexico, and Puerto Rico. The company provides veterinary care, grooming, training, tele-health, and Vital Care and pet health insurance services, as well as veterinary services through Vetco mobile clinics.