Petmed Express Inc (PETS)

PetMed Express, Inc. Stock (PETS) dropped by 24.95% from $9.18 to $6.89 in the trading on Tuesday October 31, 2023. The reason why PETS stock down today include:

• Missed Q3 financial results: PetMed reported revenue of $71 million, missing analysts’ revenue estimate of $76 million. Additionally, EPS of $0.00 missed the cut by $0.09. In comparison, the company had delivered an EPS of $0.13 in the year-ago period.
• Dividend pause: PetMed Express announced that it suspended its quarterly dividend. For the quarter to Sept. 30, the company swung to a net loss of about $70,000, or essentially breakeven on a per-share basis, from net income of $2.6 million, or 13 cents a share, in the same period a year ago.