PetSmart Boosts Outlook Again as Q3 Earnings Easily Top Expectations (PETM)

By
A A A
Share |

Pet products retailer PetSmart, Inc. ( PETM ) late Wednesday posted much better-than-expected third quarter earnings results and lifted its full-year outlook for the second time this year.

The Phoenix-based company reported third quarter net income of $82.3 million, or 75 cents per share, compared with $56.2 million, or 50 cents per share, in the year-ago period.

Revenue rose 8.7% from last year to $1.63 billion.

On average, Wall Street analysts expected a much smaller profit of 63 cents per share, on slightly lower revenue of $1.62 billion.

For the fourth quarter, PetSmart forecast earnings of $1.16 to $1.20 per share, which could miss or meet analysts' view of $1.20 per share. As for the full year, the company lifted its outlook to a range of $3.47 to $3.51 per share, up from a prior view of $3.30 to $3.40.

PetSmart shares rose $3.55, or +5.5%, in premarket trading Thursday.

The Bottom Line
Shares of PetSmart ( PETM ) have a 1.02% dividend yield, based on last night's closing stock price of $64.85. The stock has technical support in the $59-$63 price area. The stock is trading near the all-time high range of $70-$72 a share.

PetSmart, Inc. ( PETM ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Created by Dividend.com


This article appears in: Investing , Stocks

Referenced Stocks: PETM

Dividend.com

Dividend.com

More from Dividend.com:

Related Videos

ColonialMills_USETBASITE
ColonialMills_USETBASITE            

Stocks

Referenced

Most Active by Volume

81,768,754
  • $74.11 ▼ 2.31%
77,395,717
  • $9.42 ▼ 5.80%
67,947,205
  • $17.02 ▲ 0.18%
53,864,169
  • $32.58 ▼ 3.95%
44,748,631
  • $11.32 ▲ 0.98%
42,926,278
  • $9.97 ▼ 9.03%
42,401,116
  • $41.80 ▼ 0.67%
39,870,972
  • $106.98 ▼ 0.34%
As of 10/30/2014, 04:15 PM

Find a Credit Card

Select a credit card product by:
Select an offer:
Search
Data Provided by BankRate.com