August 10, 2022

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KeyCorp Weighs in on Central Garden & Pet’s Q3 2022 Earnings (NASDAQ:CENT)


Central Garden & Pet (NASDAQ:CENTGet Rating) – Equities research analysts at KeyCorp cut their Q3 2022 earnings estimates for shares of Central Garden & Pet in a note issued to investors on Wednesday, June 22nd. KeyCorp analyst B. Thomas now expects that the company will earn $1.28 per share for the quarter, down from their previous forecast of $1.62. The consensus estimate for Central Garden & Pet’s current full-year earnings is $2.77 per share. KeyCorp also issued estimates for Central Garden & Pet’s Q4 2022 earnings at $0.02 EPS, FY2022 earnings at $2.75 EPS and FY2023 earnings at $3.00 EPS.

Separately, Truist Financial reduced their target price on shares of Central Garden & Pet from $65.00 to $60.00 in a research note on Tuesday, March 22nd.

NASDAQ CENT opened at $43.85 on Monday. Central Garden & Pet has a 1 year low of $40.03 and a 1 year high of $57.32. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.85 and a quick ratio of 1.29. The firm has a market cap of $2.42 billion, a price-to-earnings ratio of 16.00 and a beta of 0.54. The company has a fifty day moving average price of $43.87 and a 200-day moving average price of $45.89.

Central Garden & Pet (NASDAQ:CENTGet Rating) last posted its earnings results on Wednesday, May 4th. The company reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.09. Central Garden & Pet had a net margin of 4.48% and a return on equity of 12.18%. The firm had revenue of $954.37 million during the quarter, compared to analyst estimates of $935.14 million.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Captrust Financial Advisors lifted its holdings in Central Garden & Pet by 41.4% during the first quarter. Captrust Financial Advisors now owns 959 shares of the company’s stock valued at $42,000 after purchasing an additional 281 shares during the last quarter. Advisor Group Holdings Inc. lifted its holdings in Central Garden & Pet by 43.5% during the first quarter. Advisor Group Holdings Inc. now owns 2,176 shares of the company’s stock valued at $96,000 after purchasing an additional 660 shares during the last quarter. KBC Group NV lifted its holdings in Central Garden & Pet by 26.6% during the first quarter. KBC Group NV now owns 2,296 shares of the company’s stock valued at $101,000 after purchasing an additional 483 shares during the last quarter. State of Tennessee Treasury Department lifted its holdings in Central Garden & Pet by 17.9% during the first quarter. State of Tennessee Treasury Department now owns 3,708 shares of the company’s stock valued at $163,000 after purchasing an additional 562 shares during the last quarter. Finally, Everhart Financial Group Inc. purchased a new stake in Central Garden & Pet during the fourth quarter valued at about $200,000. 18.59% of the stock is currently owned by institutional investors and hedge funds.

In related news, CFO Nicholas Lahanas sold 7,306 shares of the stock in a transaction dated Friday, May 13th. The shares were sold at an average price of $41.78, for a total transaction of $305,244.68. Following the completion of the transaction, the chief financial officer now owns 113,520 shares in the company, valued at $4,742,865.60. The transaction was disclosed in a document filed with the SEC, which is available through this link. 8.80% of the stock is currently owned by corporate insiders.

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



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