Q3 2024 EPS Estimates for Central Garden & Pet Lowered by Analyst (NASDAQ:CENT)

Central Garden & Pet (NASDAQ:CENT) – Zacks Research decreased their Q3 2024 earnings per share (EPS) estimates for Central Garden & Pet in a report released on Wednesday, May 22nd. Zacks Research analyst S. Singh now anticipates that the company will earn $1.25 per share for the quarter, down from their previous forecast of $1.63. The consensus estimate for Central Garden & Pet’s current full-year earnings is $2.40 per share. Zacks Research also issued estimates for Central Garden & Pet’s Q4 2024 earnings at ($0.02) EPS, FY2024 earnings at $2.24 EPS, Q3 2025 earnings at $1.38 EPS, FY2025 earnings at $2.48 EPS and FY2026 earnings at $2.58 EPS.

Other research analysts also recently issued reports about the company. Canaccord Genuity Group began coverage on Central Garden & Pet in a report on Tuesday, March 12th. They set a “buy” rating and a $52.00 price objective for the company. Truist Financial raised their price target on Central Garden & Pet from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, February 9th. Canaccord Genuity Group initiated coverage on Central Garden & Pet in a research note on Tuesday, March 12th. They issued a “buy” rating and a $52.00 price target for the company. TheStreet upgraded Central Garden & Pet from a “c+” rating to a “b-” rating in a research note on Friday, March 1st. Finally, Monness Crespi & Hardt upgraded Central Garden & Pet to a “strong-buy” rating in a research note on Thursday, May 9th. Three equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Central Garden & Pet presently has an average rating of “Buy” and an average target price of $54.67.

Central Garden & Pet Stock Down 1.8 %

NASDAQ:CENT opened at $45.35 on Friday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.68 and a current ratio of 3.33. The company has a market cap of $3.06 billion, a PE ratio of 20.37 and a beta of 0.72. Central Garden & Pet has a 52-week low of $28.58 and a 52-week high of $47.48. The stock has a 50-day simple moving average of $42.45 and a 200 day simple moving average of $37.67.

Central Garden & Pet (NASDAQ:CENT) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.16. The business had revenue of $900.10 million during the quarter, compared to the consensus estimate of $888.74 million. Central Garden & Pet had a return on equity of 11.30% and a net margin of 4.49%. Central Garden & Pet’s quarterly revenue was down 1.0% on a year-over-year basis. During the same period last year, the company earned $0.72 earnings per share.

Insider Activity

In other news, CFO Nicholas Lahanas sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $39.98, for a total value of $1,199,400.00. Following the completion of the sale, the chief financial officer now directly owns 87,528 shares of the company’s stock, valued at $3,499,369.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CFO Nicholas Lahanas sold 30,000 shares of Central Garden & Pet stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $39.98, for a total transaction of $1,199,400.00. Following the completion of the sale, the chief financial officer now directly owns 87,528 shares of the company’s stock, valued at approximately $3,499,369.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider John D. Walker III sold 4,218 shares of Central Garden & Pet stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $40.31, for a total value of $170,027.58. Following the sale, the insider now directly owns 85,063 shares of the company’s stock, valued at $3,428,889.53. The disclosure for this sale can be found here. Insiders sold a total of 44,218 shares of company stock valued at $1,769,928 over the last three months. Insiders own 9.53% of the company’s stock.

Institutional Trading of Central Garden & Pet

Several hedge funds have recently added to or reduced their stakes in the company. Orchard Capital Management LLC lifted its position in shares of Central Garden & Pet by 5.6% during the 4th quarter. Orchard Capital Management LLC now owns 169,107 shares of the company’s stock valued at $8,474,000 after acquiring an additional 8,914 shares during the period. Principal Financial Group Inc. lifted its position in shares of Central Garden & Pet by 6.8% during the 1st quarter. Principal Financial Group Inc. now owns 53,039 shares of the company’s stock worth $2,272,000 after buying an additional 3,397 shares during the last quarter. ProShare Advisors LLC lifted its position in shares of Central Garden & Pet by 92.6% during the 1st quarter. ProShare Advisors LLC now owns 51,117 shares of the company’s stock worth $2,189,000 after buying an additional 24,575 shares during the last quarter. GSA Capital Partners LLP lifted its position in shares of Central Garden & Pet by 22.6% during the 3rd quarter. GSA Capital Partners LLP now owns 43,616 shares of the company’s stock worth $1,925,000 after buying an additional 8,042 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Central Garden & Pet by 32.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 41,862 shares of the company’s stock worth $1,793,000 after buying an additional 10,237 shares during the last quarter. 16.13% of the stock is owned by institutional investors and hedge funds.

Central Garden & Pet Company Profile

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.