Zacks: Brokerages Expect Central Garden & Pet Co (CENT) Will Announce Quarterly Sales of $597.59 Million

Analysts expect that Central Garden & Pet Co (NASDAQ:CENT) will announce sales of $597.59 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Central Garden & Pet’s earnings, with the lowest sales estimate coming in at $594.80 million and the highest estimate coming in at $601.38 million. Central Garden & Pet reported sales of $569.92 million during the same quarter last year, which indicates a positive year-over-year growth rate of 4.9%. The business is expected to report its next quarterly earnings report on Wednesday, May 2nd.

On average, analysts expect that Central Garden & Pet will report full year sales of $597.59 million for the current financial year, with estimates ranging from $2.08 billion to $2.13 billion. For the next year, analysts expect that the business will report sales of $2.15 billion per share, with estimates ranging from $2.14 billion to $2.17 billion. Zacks’ sales calculations are an average based on a survey of research firms that that provide coverage for Central Garden & Pet.

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Central Garden & Pet (NASDAQ:CENT) last issued its earnings results on Wednesday, February 7th. The company reported $0.19 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.04. The business had revenue of $442.01 million for the quarter, compared to the consensus estimate of $435.19 million. Central Garden & Pet had a net margin of 4.69% and a return on equity of 12.86%. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.12 earnings per share.

Several analysts have recently weighed in on CENT shares. CL King started coverage on shares of Central Garden & Pet in a report on Thursday, December 7th. They issued a “buy” rating and a $47.00 target price on the stock. Zacks Investment Research downgraded shares of Central Garden & Pet from a “buy” rating to a “hold” rating in a report on Tuesday, February 6th. BidaskClub downgraded shares of Central Garden & Pet from a “hold” rating to a “sell” rating in a report on Saturday, January 6th. KeyCorp raised shares of Central Garden & Pet from a “sector weight” rating to an “overweight” rating and set a $44.00 target price on the stock in a report on Monday, January 22nd. Finally, Oppenheimer reaffirmed a “hold” rating on shares of Central Garden & Pet in a report on Wednesday, November 29th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Central Garden & Pet presently has a consensus rating of “Buy” and an average target price of $44.00.

Shares of Central Garden & Pet (CENT) opened at $41.61 on Monday. The firm has a market cap of $2,158.81, a PE ratio of 22.25, a PEG ratio of 2.20 and a beta of 0.11. The company has a quick ratio of 2.46, a current ratio of 4.42 and a debt-to-equity ratio of 1.04. Central Garden & Pet has a fifty-two week low of $29.08 and a fifty-two week high of $42.74.

In related news, insider Howard Machek sold 6,000 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $38.01, for a total transaction of $228,060.00. Following the sale, the insider now owns 14,598 shares of the company’s stock, valued at $554,869.98. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John Ranelli sold 11,563 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $36.97, for a total transaction of $427,484.11. Following the sale, the director now directly owns 542 shares in the company, valued at approximately $20,037.74. The disclosure for this sale can be found here. In the last three months, insiders have sold 52,589 shares of company stock worth $1,943,016. 11.60% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in CENT. Municipal Employees Retirement System of Michigan boosted its holdings in Central Garden & Pet by 58.9% during the third quarter. Municipal Employees Retirement System of Michigan now owns 3,830 shares of the company’s stock worth $149,000 after buying an additional 1,420 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in Central Garden & Pet by 200.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,968 shares of the company’s stock worth $154,000 after buying an additional 2,647 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in Central Garden & Pet by 104.6% during the third quarter. Envestnet Asset Management Inc. now owns 4,273 shares of the company’s stock worth $166,000 after buying an additional 2,185 shares in the last quarter. MetLife Investment Advisors LLC purchased a new stake in Central Garden & Pet during the fourth quarter worth about $173,000. Finally, BNP Paribas Arbitrage SA boosted its holdings in Central Garden & Pet by 70.3% during the third quarter. BNP Paribas Arbitrage SA now owns 5,340 shares of the company’s stock worth $207,000 after buying an additional 2,204 shares in the last quarter. 19.65% of the stock is currently owned by hedge funds and other institutional investors.

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Central Garden & Pet Company Profile

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.

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

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