Tue Sep 17 06:15:00 UTC 2024: ## Petco Health and Wellness Sees Upgraded Earnings Forecast from Wedbush

**San Diego, CA – September 17, 2024** – Petco Health and Wellness Company, Inc. (NASDAQ:WOOF) received a positive outlook from Wedbush analysts, who raised their FY2026 earnings per share (EPS) estimates for the company.

Analyst S. Basham of Wedbush now predicts Petco will earn ($0.10) per share for the year, an improvement from their previous forecast of ($0.12). Wedbush maintains an “Outperform” rating for WOOF, with a price objective of $5.00.

This optimistic outlook comes despite Petco’s recent earnings report, which saw the company post a loss of ($0.02) per share for the third quarter, matching analysts’ expectations. While revenue reached $1.52 billion, slightly below the predicted $1.53 billion, it represents a decrease of .5% compared to the same period last year.

Despite the mixed financial results, Wedbush’s revised forecast suggests confidence in Petco’s future performance. The firm’s focus on pet health and wellness services, including veterinary care, grooming, training, and insurance, positions them for continued growth in the expanding pet care market.

In addition to the revised EPS estimates, Wedbush also projected FY2027 earnings at ($0.10) EPS. This further indicates a positive trajectory for Petco in the coming years.

Petco’s stock opened at $4.65 on Monday, with a market capitalization of $1.45 billion. The company’s debt-to-equity ratio stands at 1.39, while the current ratio is 0.84 and the quick ratio is 0.21.

Petco Health and Wellness Company, Inc. operates as a health and wellness company, dedicated to improving the lives of pets, pet owners, and partners across the United States, Mexico, and Puerto Rico.

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