PetMed Express (PETS) Misses Targets, Plummets 17%

PetMed Express, Inc PETS announced on Monday morning that it missed consensus Wall Street earnings and revenue estimates. PetMed Express (PETS) reported that its fiscal 1st quarter profit fell to $7.2 million, or 32 cents per share, down from $8.1 million, or 36 cents per share, a year earlier. The company's sales also took a hit, falling 4% to $74.4 million. According to a survey of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 38 cents per share, on revenue of $81.1 million. Shares of PETS plunged 4.34% to $17.62 per share on Friday. The fall continued Monday morning after the company released its earnings report, with the shares falling a further 17% to $14.57 per share in pre-market trading. Analysts covering the stock have a consensus price target of $21.50 per share. Pompano Beach, Florida PetMed Express, Inc. and its subsidiaries are a pharmacy for pets. The company conducts business as 1-800-PetMeds, offering both prescription and non-prescription medications, as well as other health products for pets. PetMed Express markets its products directly to consumers by television, the internet, print advertising and direct mail campaigns. Read more from Benzinga's Company news.