Central Garden & Pet (NASDAQ:CENT) Expected to Announce Earnings of $1.18 Per Share

Wall Street analysts forecast that Central Garden & Pet (NASDAQ:CENTGet Rating) will announce earnings of $1.18 per share for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Central Garden & Pet’s earnings, with the lowest EPS estimate coming in at $1.10 and the highest estimate coming in at $1.25. Central Garden & Pet reported earnings of $1.32 per share in the same quarter last year, which would suggest a negative year over year growth rate of 10.6%. The business is expected to issue its next earnings results on Wednesday, May 4th.

According to Zacks, analysts expect that Central Garden & Pet will report full-year earnings of $3.13 per share for the current year, with EPS estimates ranging from $3.11 to $3.14. For the next financial year, analysts anticipate that the firm will post earnings of $3.47 per share, with EPS estimates ranging from $3.23 to $3.62. Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that follow Central Garden & Pet.

Central Garden & Pet (NASDAQ:CENTGet Rating) last issued its earnings results on Wednesday, February 2nd. The company reported $0.16 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.15. Central Garden & Pet had a return on equity of 12.78% and a net margin of 4.60%. The company had revenue of $661.40 million during the quarter, compared to the consensus estimate of $619.66 million. During the same period in the previous year, the company posted $0.28 EPS.

Separately, Argus downgraded Central Garden & Pet from a “buy” rating to a “hold” rating in a report on Tuesday, November 30th.

In related news, insider John D. Walker III sold 2,000 shares of the company’s stock in a transaction on Thursday, February 24th. The shares were sold at an average price of $42.26, for a total transaction of $84,520.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 8.80% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Goldman Sachs Group Inc. lifted its position in Central Garden & Pet by 4.8% during the second quarter. Goldman Sachs Group Inc. now owns 6,284 shares of the company’s stock valued at $333,000 after buying an additional 286 shares during the period. State Street Corp boosted its stake in Central Garden & Pet by 9.9% during the second quarter. State Street Corp now owns 369,226 shares of the company’s stock worth $19,543,000 after acquiring an additional 33,408 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Central Garden & Pet by 3.8% during the second quarter. Charles Schwab Investment Management Inc. now owns 90,977 shares of the company’s stock worth $4,816,000 after acquiring an additional 3,361 shares in the last quarter. Morgan Stanley grew its holdings in Central Garden & Pet by 34.5% in the second quarter. Morgan Stanley now owns 35,970 shares of the company’s stock worth $1,903,000 after purchasing an additional 9,219 shares during the period. Finally, Royal Bank of Canada increased its stake in shares of Central Garden & Pet by 2.9% during the second quarter. Royal Bank of Canada now owns 15,339 shares of the company’s stock valued at $813,000 after purchasing an additional 436 shares in the last quarter. Institutional investors and hedge funds own 20.14% of the company’s stock.

Shares of NASDAQ CENT traded down $0.55 during trading hours on Monday, hitting $46.17. 27,437 shares of the stock were exchanged, compared to its average volume of 52,277. The company’s fifty day simple moving average is $46.02 and its two-hundred day simple moving average is $48.72. The company has a market cap of $2.55 billion, a PE ratio of 16.55 and a beta of 0.59. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.34 and a current ratio of 2.98. Central Garden & Pet has a 1-year low of $43.01 and a 1-year high of $62.91.

Central Garden & Pet Company Profile (Get Rating)

Central Garden & Pet Company produces and distributes various products for the lawn and garden, and pet supplies markets in the United States. It operates through two segments, Pet and Garden. The Pet segment provides dog and cat supplies, such as dog treats and chews, toys, pet beds and grooming products, waste management and training pads, and pet containment; supplies for aquatics, small animals, reptiles, and pet birds, including toys, cages and habitats, bedding, and food and supplements; animal and household health and insect control products; live fish and products for fish, reptiles, and other aquarium-based pets, such as aquariums, furniture and lighting fixtures, pumps, filters, water conditioners, food, and supplements; and products for horses and livestock, as well as outdoor cushions and pillows.

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