Barclays on PetSmart (PETM); Raising Estimates Again on Continued Operational Excellence
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Price: $69.48 -1.19%
Rating Summary:
6 Buy, 8 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
6 Buy, 8 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade PETM Now!
Barclays maintains an 'Equalweight' on PetSmart (NASDAQ: PETM) price target of $70.00.
Last night, PETM reported Q2 EPS of $0.71, six cents better than estimates. Revenues topped consensus estimate at $1.62B vs. $1.60B. Same-store sales rose 7%. PetSmart also raised FY12 EPS guidance.
Analyst, Alan M. Rifkin, said, "Our 2012 EPS estimate increases from $3.30 to $3.40, our 2013 EPS estimate from $3.60 to $3.75 and our 2014 EPS estimate from $4.10 to $4.30. We now expect 6% comps in 2012, 4% comps in 2013 and 4% comps in 2014. On the call, management expressed its positive outlook and ongoing focus on merchandising and differentiation. We also positively view PetSmart's strong cash flow and focus on enhancing shareholder returns through share buybacks and dividend increases."
For an analyst ratings summary and ratings history on PetSmart click here. For more ratings news on PetSmart click here.
Shares of PetSmart closed at $67.44 yesterday, with a 52 week range of $38.48-$69.97.
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Last night, PETM reported Q2 EPS of $0.71, six cents better than estimates. Revenues topped consensus estimate at $1.62B vs. $1.60B. Same-store sales rose 7%. PetSmart also raised FY12 EPS guidance.
Analyst, Alan M. Rifkin, said, "Our 2012 EPS estimate increases from $3.30 to $3.40, our 2013 EPS estimate from $3.60 to $3.75 and our 2014 EPS estimate from $4.10 to $4.30. We now expect 6% comps in 2012, 4% comps in 2013 and 4% comps in 2014. On the call, management expressed its positive outlook and ongoing focus on merchandising and differentiation. We also positively view PetSmart's strong cash flow and focus on enhancing shareholder returns through share buybacks and dividend increases."
For an analyst ratings summary and ratings history on PetSmart click here. For more ratings news on PetSmart click here.
Shares of PetSmart closed at $67.44 yesterday, with a 52 week range of $38.48-$69.97.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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Analyst Comments, Analyst EPS Change, Analyst EPS ViewRelated Entities
Barclays, Dividend
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