Earnings Good, But Stock Is Down - What more could they do??
04:27 PM EST, 03/06/2013 (MidnightTrader) -- PetSmart (PETM
) is lower after it says Q4 EPS were $1.24 on sales of $1.9 billion. Estimates were for $1.21 per share in earnings on sales of $1.89 billion.
For 2013, it anticipates comparable store sales growth of 2% to 4% and total sales growth of 2% to 4%. GAAP EPS are seen between $3.76 to $3.92. Estimates are for sales of $7.08487 billion.
For Q1, it is expecting comparable store sales growth of 2% to 4%, and earnings per share between $0.92 to $0.98. The Thomson Reuters sees $0.94 per share on sales of $1.72892 billion.
Price: 61.65, Change: -4.90 , Percent Change: -7.36
Revenue was really inline. People are just reacting to the guidance which I think they were just being very cautious. Especially with the new management transition I'm sure they don't want to stick them with lofty goals and then have something like a bad economy mess it up.
It's either a buyout out :) or market manipulation - either way it is just a bump in the road and you can pick up 3 to 4 free dollars - the stock is an easy 65 and maybe higher, but buy a half share to start until we can see what happens tomorrow.