Central Garden & Pet (NASDAQ:CENT) Updates FY 2024 Earnings Guidance

Central Garden & Pet (NASDAQ:CENT) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 2.000- for the period, compared to the consensus EPS estimate of 2.230. The company issued revenue guidance of -. Central Garden & Pet also updated its FY24 guidance to $2.50 EPS.

Central Garden & Pet Trading Up 0.4 %

Shares of NASDAQ CENT traded up $0.18 during midday trading on Wednesday, hitting $41.73. The company’s stock had a trading volume of 89,724 shares, compared to its average volume of 110,631. The business’s 50 day moving average is $41.61 and its two-hundred day moving average is $36.28. Central Garden & Pet has a 12-month low of $28.58 and a 12-month high of $44.45. The company has a current ratio of 3.47, a quick ratio of 1.55 and a debt-to-equity ratio of 0.82. The firm has a market cap of $2.81 billion, a P/E ratio of 20.61 and a beta of 0.72.

Central Garden & Pet (NASDAQ:CENT) last announced its quarterly earnings results on Wednesday, February 7th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.15. Central Garden & Pet had a net margin of 4.06% and a return on equity of 10.32%. The firm had revenue of $634.53 million during the quarter, compared to analysts’ expectations of $620.11 million. As a group, equities research analysts expect that Central Garden & Pet will post 2.37 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Truist Financial increased their price objective on shares of Central Garden & Pet from $50.00 to $60.00 and gave the stock a buy rating in a research note on Friday, February 9th. Canaccord Genuity Group assumed coverage on Central Garden & Pet in a research note on Tuesday, March 12th. They set a buy rating and a $52.00 price objective for the company. Canaccord Genuity Group started coverage on shares of Central Garden & Pet in a research note on Tuesday, March 12th. They issued a buy rating and a $52.00 target price for the company. Finally, TheStreet upgraded shares of Central Garden & Pet from a c+ rating to a b- rating in a research report on Friday, March 1st.

Insider Activity at Central Garden & Pet

In other news, insider John Edward Hanson sold 5,321 shares of the company’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $37.19, for a total transaction of $197,887.99. Following the completion of the sale, the insider now owns 35,460 shares of the company’s stock, valued at $1,318,757.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CAO Howard Machek sold 5,000 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $36.40, for a total value of $182,000.00. Following the completion of the sale, the chief accounting officer now owns 59,406 shares of the company’s stock, valued at $2,162,378.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Edward Hanson sold 5,321 shares of Central Garden & Pet stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $37.19, for a total transaction of $197,887.99. Following the transaction, the insider now directly owns 35,460 shares in the company, valued at $1,318,757.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,822 shares of company stock valued at $965,026. 9.53% of the stock is owned by insiders.

About Central Garden & Pet

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 containment, grooming products, waste management, and training pads; supplies for aquatics, small animals, reptiles, and pet birds, including toys, cages and habitats, bedding, and food and supplements; products for equine and livestock; animal and household health and insect control products; aquariums and terrariums, including fixtures and stands, water conditioners and supplements, water pumps and filters, and lighting systems and accessories; and live fish and small animals, as well as outdoor cushions.