Barclays on PetSmart (PETM); Raising Estimates Again on Continued Operational Excellence
Tweet
Share
E-mailGet Alerts PETM Hot Sheet
Price: $82.98 --0%
Rating Summary:
2 Buy, 18 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 15 | Down: 12 | New: 12
Rating Summary:
2 Buy, 18 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 15 | Down: 12 | New: 12
Join SI Premium – FREE
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.
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.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Citi Upgrades Grupo Aeroportuario del Pacifico SAB de CV (GAPB:MM) (PAC) to Buy
- Citizens Financial Group (CFG) PT Raised to $85 at DA Davidson
- Taiwan Semi (TSM) PT Raised to $500 at DA Davidson Following Q2 Earnings, Revenue Beat
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS ViewRelated Entities
Barclays, DividendSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
