Pet products retailer PetSmart, Inc. (
) on Tuesday posted better-than-expected fourth quarter earnings
results and offered a 2011 forecast that was in-line with analysts'
The Phoenix-based company reported fourth quarter net income of
77 cents per share on revenue of $1.52 billion. On average, Wall
Street analysts expected a smaller profit of 74 cents per share, on
lower revenue of $1.51 billion.
Same-store sales, an important metric used to measure a
retailer's health, jumped 6.3% from the prior year.
Looking ahead, the company forecast first quarter profit to
range from 52 to 56 cents per share, and 2011 profit of $2.23 to
$2.35 per share. Analysts currently expect 54 cents for the first
quarter and $2.32 per share for the year.
PetSmart shares rose $1.19, or +2.9%, in premarket trading
The Bottom Line
Shares of PetSmart (
) have a 1.22% dividend yield, based on last night's closing stock
price of $40.87. The stock has technical support in the $36-$38
price area. The stock is trading near all-time highs of $42 a
PetSmart, Inc. (
) 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
Created by Dividend.com