Covetrus (CVET) Posts Earnings Results, Misses Estimates By $0.03 EPS

Covetrus (NASDAQ:CVET) announced its quarterly earnings data on Wednesday. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.03), MarketWatch Earnings reports. The company had revenue of $941.00 million for the quarter, compared to analysts’ expectations of $993.41 million. The business’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the prior year, the business earned $0.18 EPS.

NASDAQ CVET traded up $0.77 on Wednesday, hitting $29.93. 69,134 shares of the stock were exchanged, compared to its average volume of 990,787. The company has a current ratio of 1.90, a quick ratio of 0.91 and a debt-to-equity ratio of 0.02. Covetrus has a fifty-two week low of $27.02 and a fifty-two week high of $43.83.

A number of research analysts recently weighed in on CVET shares. Credit Suisse Group started coverage on shares of Covetrus in a report on Thursday, April 4th. They issued a “neutral” rating and a $35.00 price objective for the company. William Blair assumed coverage on shares of Covetrus in a report on Tuesday, February 12th. They set an “outperform” rating for the company. Cleveland Research assumed coverage on shares of Covetrus in a report on Friday, May 10th. They set a “hold” rating for the company. Raymond James assumed coverage on shares of Covetrus in a report on Wednesday, February 27th. They set an “outperform” rating and a $45.00 price target for the company. Finally, Zacks Investment Research cut shares of Covetrus from a “hold” rating to a “sell” rating in a report on Friday, April 19th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $40.00.

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Covetrus Company Profile

Covetrus, Inc engages in developing technologies and services for animal health industry. It also provides products, software, and services to help drive improved patient health, strong client relationships, and successful financial outcomes for veterinary professionals. The company was founded on April 13, 2018 and is headquartered in Melville, NY.

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