PetSmart Q4 Profit Beats View; Forecast In-Line (PETM)

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Pet products retailer PetSmart, Inc. ( PETM ) on Tuesday posted better-than-expected fourth quarter earnings results and offered a 2011 forecast that was in-line with analysts' view.

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 Tuesday.

The Bottom Line
Shares of PetSmart ( PETM ) 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 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.

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