Research Analysts Set Expectations for Central Garden & Pet Co’s FY2018 Earnings (CENT)

Central Garden & Pet Co (NASDAQ:CENT) – Equities research analysts at SunTrust Banks lifted their FY2018 earnings per share estimates for Central Garden & Pet in a research note issued on Monday. SunTrust Banks analyst W. Chappell now forecasts that the company will post earnings of $2.01 per share for the year, up from their prior forecast of $1.68.

Central Garden & Pet (NASDAQ:CENT) last issued its quarterly earnings data on Tuesday, November 28th. The company reported $0.08 EPS for the quarter, missing the Zacks’ consensus estimate of $0.10 by ($0.02). The company had revenue of $490.46 million for the quarter, compared to analyst estimates of $439.07 million. Central Garden & Pet had a return on equity of 12.81% and a net margin of 3.84%. The company’s revenue for the quarter was up 18.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.13 EPS.

A number of other research analysts have also recently commented on the company. Zacks Investment Research upgraded Central Garden & Pet from a “sell” rating to a “hold” rating in a research note on Wednesday, November 15th. CL King initiated coverage on Central Garden & Pet in a research note on Thursday, December 7th. They issued a “buy” rating and a $47.00 price target on the stock. KeyCorp reiterated a “hold” rating on shares of Central Garden & Pet in a research note on Monday, October 16th. Sidoti cut Central Garden & Pet from a “buy” rating to a “neutral” rating in a research note on Monday, October 16th. Finally, BidaskClub cut Central Garden & Pet from a “buy” rating to a “hold” rating in a research note on Tuesday, December 12th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $44.00.

Shares of Central Garden & Pet (NASDAQ:CENT) traded down $0.34 on Wednesday, hitting $36.61. The company’s stock had a trading volume of 118,256 shares, compared to its average volume of 122,500. The firm has a market capitalization of $1,850.00, a PE ratio of 24.09, a PEG ratio of 2.22 and a beta of 0.03. Central Garden & Pet has a 12 month low of $29.08 and a 12 month high of $42.29. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.37 and a current ratio of 3.10.

In related news, Director Brooks Pennington III sold 10,000 shares of the business’s stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $35.47, for a total value of $354,700.00. Following the transaction, the director now owns 35,928 shares in the company, valued at $1,274,366.16. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John Ranelli sold 46,991 shares of the business’s stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $37.87, for a total value of $1,779,549.17. Following the completion of the transaction, the director now owns 61,317 shares in the company, valued at approximately $2,322,074.79. The disclosure for this sale can be found here. In the last quarter, insiders sold 80,299 shares of company stock worth $3,028,258. Insiders own 12.60% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA increased its holdings in Central Garden & Pet by 20.7% in the second quarter. BNP Paribas Arbitrage SA now owns 3,136 shares of the company’s stock valued at $100,000 after buying an additional 537 shares during the last quarter. Municipal Employees Retirement System of Michigan increased its holdings in Central Garden & Pet by 58.9% in the third quarter. Municipal Employees Retirement System of Michigan now owns 3,830 shares of the company’s stock valued at $149,000 after buying an additional 1,420 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in Central Garden & Pet by 104.6% in the third quarter. Envestnet Asset Management Inc. now owns 4,273 shares of the company’s stock valued at $166,000 after buying an additional 2,185 shares during the last quarter. Sei Investments Co. increased its holdings in Central Garden & Pet by 8.9% in the second quarter. Sei Investments Co. now owns 4,633 shares of the company’s stock valued at $148,000 after buying an additional 380 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System bought a new stake in Central Garden & Pet in the third quarter valued at about $224,000. Institutional investors and hedge funds own 20.02% of the company’s stock.

TRADEMARK VIOLATION WARNING: This report was first posted by Community Financial News and is the property of of Community Financial News. If you are reading this report on another publication, it was illegally copied and reposted in violation of international trademark and copyright law. The original version of this report can be read at https://www.com-unik.info/2018/01/12/research-analysts-set-expectations-for-central-garden-pet-cos-fy2018-earnings-cent.html.

About Central Garden & Pet

Central Garden & Pet Company is a marketer and producer of branded products and distributor of third party products in the pet and lawn and garden supplies industries in the United States. The Company operates in two segments: Pet segment and the Garden segment. It is a marketer and producer of pet supplies in the United States.

Earnings History and Estimates for Central Garden & Pet (NASDAQ:CENT)

What are top analysts saying about Central Garden & Pet? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Central Garden & Pet and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit