|
Related Topics
|
Category: Stock Market and Petmed Express
Date: 21 January 2020 Stock Price: $25.34 We take a look at the 3rd quarter earnings report of their 2019 fiscal year of Petmed Express, America's largest pet pharmacy, delivering prescription and non-prescription pet medications for dogs, cats and horses.
|
About Petmed Express
Founded in 1996, PetMed Express is America's Largest Pet Pharmacy, delivering prescription and non-prescription pet medications and other health products for dogs, cats, and horses at competitive prices direct to the consumer through its 1-800-PetMeds toll free number and on the Internet through its website at www.1800petmeds.com.
Overview of Las Vegas Sands' 3rd quarter 2019 earnings report
Data below is reported for the latest quarter unless stated otherwise
- Net sales: $59.915 million (down from $60.068 million for the same quarter of the previous year)
- Net sales decreased by -0.25% over the last 12 months
- Cost of sales: $42.218 million (down from $40.618 million for the same quarter of the previous year)
- Cost of sales increased by 3.9% over the last 12 months
- Net income: $6.840 million (down from $7.787 million for the same quarter of the previous year)
- Diluted earnings per share: $0.34 (down from $0.38 for the same quarter of the previous year)
- PE ratio of Petmed: 18.9
- Dividend declared for quarter: $0.27
- Dividend yield of Petmed: 4.3%
- Diluted weighted-average shares outstanding: 19.994 million (down from 20.493 million for the same quarter of the previous year)
- Cash and cash equivalents: $92.374 million
- Cash and cash equivalents per share: $4.62
- Cash and cash equivalents makes up 18.2% of Petmed's market capital
- Cash and cash equivalents makes up 61.7% of Petmed's total assets
- Inventories: $24.165 million
- Inventories makes up 16.1% of Petmed's total assets
- Inventories makes up 16.1% of Petmed's total assets
- Stockholders equity in Petmed: $127.710 million
- Stockholders equity per share in Petmed: $6.38
- Petmed is trading at times at 3.98 times its stockholders equity per share which is within the expected range of between 2 and 4 times that most firms tend to trade at.
Petmed Express' management commentary on their 3rd quarter 2019 earnings report
Delray Beach, Florida, January 21, 2020 - PetMed Express, Inc. (NASDAQ: PETS) today announced its financial results for the quarter ended December 31, 2019. Net sales for the quarter ended December 31, 2019 were $59.9 million, compared to $60.1 million for the quarter ended December 31, 2018. Net income was $6.8 million, or $0.34 diluted per share, for the quarter ended December 31, 2019, compared to net income of $7.8 million, or $0.38 diluted per share, for the quarter ended December 31, 2018, a 10% decrease in diluted earnings per share. Average order size increased to $85 for the quarter ended December 31, 2019, compared to $84 for the same quarter in the prior year. Reorder sales increased 1.0%, to $53.8 million for the quarter ended December 31, 2019, compared to $53.3 million for the same quarter in the prior year.
Menderes Akdag, CEO and President, commented: "We were encouraged with improvements to our average order size, and gross and net income margins during the quarter. Gross margins improved by 90 basis points from 28.6% in the September quarter to 29.5% in the December quarter. Net income margins improved 180 basis points from 9.6% in the September quarter to 11.4% in the December quarter. The gross margin increase can be attributed to our success in obtaining direct purchasing relationships with all the major manufacturers, and the implementation of the minimum advertised price (MAP) policy by those manufacturers. We anticipate MAP pricing to stabilize pet medication prices throughout the online channel. Net cash from operations for the nine months ended December 31, 2019 was $21.6 million. In 2020, we will focus on optimizing our marketing in this more competitive environment and being more efficient with our advertising spending. In addition, we will continue investing in our e-commerce platform to better service our customers. This platform will enable us to improve upon our already strong net promoter score of 84.0%. We believe this customer satisfaction measure reflects the strong bond we have with our customers and will assist the Company with future customer retention."
The Board of Directors declared a quarterly dividend of $0.27 per share on the Company's common stock. The dividend will be payable on February 14, 2020, to shareholders of record at the close of business on February 3, 2020. The Company intends to continue to pay regular quarterly dividends; however, the declaration and payment of future dividends is discretionary and will be subject to a determination by the Board of Directors each quarter following its review of the Company's financial performance.
The Board of Directors declared a quarterly dividend of $0.27 per share on the Company's common stock. The dividend will be payable on February 14, 2020, to shareholders of record at the close of business on February 3, 2020. The Company intends to continue to pay regular quarterly dividends; however, the declaration and payment of future dividends is discretionary and will be subject to a determination by the Board of Directors each quarter following its review of the Company's financial performance.
Petmed Express (NASDAQ: PETS) stock price history
The image below, obtained from Google, shows the stock price history of Petmed Express over the last 5 years. And it's been a very volatile and pretty good time for Petmed Express stockholders. 5 years ago it was trading at $16 and its currently trading at around $25.25 a stock. That's a return of 57.8% provided to Petmed Express stockholders over the last 5 years.
The stock of Petmed Express is trading at a lot closer to its 52 week high of $27.80 than it is to its 52 week low of $15 which to us is a clear indication that the short term sentiment and momentum of Petmed Express stock is positive at this point in time.
The stock of Petmed Express is trading at a lot closer to its 52 week high of $27.80 than it is to its 52 week low of $15 which to us is a clear indication that the short term sentiment and momentum of Petmed Express stock is positive at this point in time.
Recent coverage of Petmed Express
The extract below discusses the latest regarding Petmed Express as obtained from Nasdaq.com
(RTTNews) - PetMed Express Inc. (PETS) announced earnings for third quarter that decreased from the same period last year. The company's profit came in at $6.84 million, or $0.34 per share. This compares with $7.79 million, or $0.38 per share, in last year's third quarter.
Analysts had expected the company to earn $0.30 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 0.2% to $59.92 million from $60.07 million last year.
(RTTNews) - PetMed Express Inc. (PETS) announced earnings for third quarter that decreased from the same period last year. The company's profit came in at $6.84 million, or $0.34 per share. This compares with $7.79 million, or $0.38 per share, in last year's third quarter.
Analysts had expected the company to earn $0.30 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 0.2% to $59.92 million from $60.07 million last year.
Petmed Express (NASDAQ: PETS) latest stock valuation
So what is Petmed Express stock worth based on the release of their latest earnings report? Based onPetmed Express latest earnings report provided our valuation model provides a target (full value) price at $22.50 a Petmed Express stock We therefore believe that the stock is overvalued.
We usually suggest long term fundamental or value investors look to enter into a stock at least 10% below our target (full value) price which in this case is $22.50. Therefore we see a good entry point into Petmed Express stock at $20.30 or below. We expect the stock of Petmed Express to pull back from current levels in coming weeks and months to more realistic valuation levels closer to our target price (full value price)
We usually suggest long term fundamental or value investors look to enter into a stock at least 10% below our target (full value) price which in this case is $22.50. Therefore we see a good entry point into Petmed Express stock at $20.30 or below. We expect the stock of Petmed Express to pull back from current levels in coming weeks and months to more realistic valuation levels closer to our target price (full value price)
Next earnings release for Petmed Express
It is expected that Petmed Express will release their 4th quarter and full fiscal 2019 earnings report in late April 2019