Zacks: Brokerages Anticipate SiteOne Landscape Supply Inc (SITE) Will Announce Earnings of -$0.24 Per Share

Wall Street brokerages expect SiteOne Landscape Supply Inc (NYSE:SITE) to post earnings of ($0.24) per share for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for SiteOne Landscape Supply’s earnings, with the highest EPS estimate coming in at ($0.19) and the lowest estimate coming in at ($0.28). SiteOne Landscape Supply posted earnings per share of ($0.26) in the same quarter last year, which would suggest a positive year-over-year growth rate of 7.7%. The company is expected to report its next 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 post earnings of $2.44 per share, with EPS estimates ranging from $2.11 to $2.62. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that follow SiteOne Landscape Supply.

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SiteOne Landscape Supply (NYSE:SITE) last posted its quarterly earnings data on Tuesday, February 20th. The industrial products company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $415.70 million during the quarter, compared to the consensus estimate of $410.38 million. During the same period in the previous year, the firm posted ($0.14) EPS. The firm’s revenue was up 14.9% compared to the same quarter last year.

A number of brokerages recently commented on SITE. 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. Royal Bank of Canada set a $87.00 target price on shares of SiteOne Landscape Supply and gave the stock a “buy” rating in a research report on Monday, March 26th. Barclays set a $65.00 target price on shares of SiteOne Landscape Supply and gave the stock a “hold” rating in a research report on Monday, January 8th. UBS set a $71.00 target price on shares of SiteOne Landscape Supply and gave the stock a “sell” rating in a research report on Wednesday, February 21st. Finally, SunTrust Banks lifted their target price on shares of SiteOne Landscape Supply to $89.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. SiteOne Landscape Supply has an average rating of “Buy” and an average price target of $74.67.

In other news, Director Michael J. Grebe acquired 718 shares of the firm’s stock in a transaction on Wednesday, February 28th. The shares were purchased at an average price of $69.31 per share, for a total transaction of $49,764.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ross Anker sold 6,080 shares of the business’s 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 in the company, valued at approximately $2,627,547.60. The disclosure for this sale can be found here. Insiders sold 41,840 shares of company stock worth $3,115,300 in the last 90 days. Corporate insiders own 4.00% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in SITE. Prudential Financial Inc. purchased a new position in shares of SiteOne Landscape Supply in the third quarter valued at about $205,000. Bank of New York Mellon Corp increased its position in shares of SiteOne Landscape Supply by 3.9% in the third quarter. Bank of New York Mellon Corp now owns 278,536 shares of the industrial products company’s stock valued at $16,182,000 after acquiring an additional 10,441 shares during the period. SG Americas Securities LLC purchased a new position in shares of SiteOne Landscape Supply in the third quarter valued at about $524,000. Ameriprise Financial Inc. increased its position in shares of SiteOne Landscape Supply by 15.7% in the third quarter. Ameriprise Financial Inc. now owns 215,774 shares of the industrial products company’s stock valued at $12,537,000 after acquiring an additional 29,340 shares during the period. Finally, American International Group Inc. increased its position in shares of SiteOne Landscape Supply by 8.1% in the third quarter. American International Group Inc. now owns 22,766 shares of the industrial products company’s stock valued at $1,323,000 after acquiring an additional 1,702 shares during the period.

NYSE SITE opened at $77.82 on Friday. SiteOne Landscape Supply has a 52-week low of $46.00 and a 52-week high of $80.56. The company has a quick ratio of 1.28, a current ratio of 2.92 and a debt-to-equity ratio of 2.19. The firm has a market cap of $3,073.12, a PE ratio of 64.31 and a beta of 1.32.

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SiteOne Landscape Supply Company Profile

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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