Brokerages Expect SiteOne Landscape Supply Inc (NYSE:SITE) Will Post Earnings of -$0.24 Per Share

Brokerages forecast that SiteOne Landscape Supply Inc (NYSE:SITE) will report earnings of ($0.24) per share for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for SiteOne Landscape Supply’s earnings. The lowest EPS estimate is ($0.28) and the highest is ($0.19). SiteOne Landscape Supply reported earnings of ($0.26) per share in the same quarter last year, which indicates a positive year over year growth rate of 7.7%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, May 9th.

On average, analysts expect that SiteOne Landscape Supply will report full-year earnings of $1.90 per share for the current fiscal year, with EPS estimates ranging from $1.61 to $2.05. For the next year, analysts forecast that the business will report earnings of $2.44 per share, with EPS estimates ranging from $2.11 to $2.62. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that cover SiteOne Landscape Supply.

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SiteOne Landscape Supply (NYSE:SITE) last issued its earnings results on Tuesday, February 20th. The industrial products company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.05. SiteOne Landscape Supply had a net margin of 2.93% and a return on equity of 27.59%. The business had revenue of $415.70 million during the quarter, compared to analysts’ expectations of $410.38 million. During the same quarter in the prior year, the business posted ($0.14) EPS. The company’s revenue for the quarter was up 14.9% on a year-over-year basis.

Several analysts recently commented on SITE shares. Zacks Investment Research upgraded shares of SiteOne Landscape Supply from a “sell” rating to a “hold” rating in a research report on Wednesday, January 10th. Barclays reiterated an “equal weight” rating and issued a $67.00 price target (up previously from $65.00) on shares of SiteOne Landscape Supply in a research report on Wednesday, February 21st. SunTrust Banks upped their price target on shares of SiteOne Landscape Supply to $89.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. UBS set a $71.00 price target on shares of SiteOne Landscape Supply and gave the company a “sell” rating in a research report on Wednesday, February 21st. Finally, Royal Bank of Canada set a $85.00 price target on shares of SiteOne Landscape Supply and gave the company a “buy” rating in a research report on Wednesday, February 14th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $74.33.

Shares of SiteOne Landscape Supply (NYSE SITE) traded down $0.70 during trading on Tuesday, hitting $72.75. 275,677 shares of the stock traded hands, compared to its average volume of 246,785. SiteOne Landscape Supply has a fifty-two week low of $45.70 and a fifty-two week high of $80.56. The company has a debt-to-equity ratio of 2.19, a quick ratio of 1.28 and a current ratio of 2.92. The firm has a market cap of $2,911.82, a PE ratio of 55.53 and a beta of 1.87.

In other SiteOne Landscape Supply news, CEO Doug Black sold 12,000 shares of the company’s stock in a transaction on Wednesday, March 21st. The shares were sold at an average price of $75.32, for a total transaction of $903,840.00. Following the completion of the transaction, the chief executive officer now owns 403,228 shares in the company, valued at approximately $30,371,132.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Ross Anker sold 6,080 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $77.19, for a total transaction of $469,315.20. Following the completion of the transaction, the executive vice president now owns 34,040 shares of the company’s stock, valued at approximately $2,627,547.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,840 shares of company stock valued at $3,115,300. 4.00% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Xact Kapitalforvaltning AB acquired a new stake in shares of SiteOne Landscape Supply in the fourth quarter worth approximately $294,000. We Are One Seven LLC bought a new stake in shares of SiteOne Landscape Supply during the fourth quarter worth $156,000. BB&T Securities LLC grew its holdings in shares of SiteOne Landscape Supply by 11.5% during the fourth quarter. BB&T Securities LLC now owns 17,059 shares of the industrial products company’s stock worth $1,308,000 after purchasing an additional 1,755 shares during the last quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC grew its holdings in shares of SiteOne Landscape Supply by 20.5% during the fourth quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 4,580 shares of the industrial products company’s stock worth $349,000 after purchasing an additional 780 shares during the last quarter. Finally, Two Sigma Advisers LP grew its holdings in shares of SiteOne Landscape Supply by 8.0% during the fourth quarter. Two Sigma Advisers LP now owns 197,716 shares of the industrial products company’s stock worth $15,165,000 after purchasing an additional 14,685 shares during the last quarter.

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About SiteOne Landscape Supply

SiteOne Landscape Supply, Inc is a national wholesale distributor of landscape supplies in the United States and Canada. The Company is a supplier of irrigation, landscape lighting, hardscapes, lawn care supplies, nursery stock, and landscape accessories to green industry professionals. As of October 2, 2016, the Company had over 450 stores.

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Earnings History and Estimates for SiteOne Landscape Supply (NYSE:SITE)

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