SiteOne Landscape Supply (NYSE:SITE) Posts Quarterly Earnings Results, Beats Estimates By $0.13 EPS

SiteOne Landscape Supply (NYSE:SITE) released its quarterly earnings results on Wednesday. The industrial products company reported $2.63 earnings per share for the quarter, topping analysts’ consensus estimates of $2.50 by $0.13, Briefing.com reports. The business had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.39 billion. SiteOne Landscape Supply had a net margin of 3.63% and a return on equity of 10.77%. The business’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the company earned $2.71 earnings per share.

SiteOne Landscape Supply Price Performance

NYSE:SITE traded down $8.68 during mid-day trading on Thursday, reaching $138.00. 438,507 shares of the stock were exchanged, compared to its average volume of 383,176. The company has a current ratio of 2.36, a quick ratio of 0.96 and a debt-to-equity ratio of 0.35. The business has a fifty day moving average price of $134.24 and a 200 day moving average price of $153.82. SiteOne Landscape Supply has a 1-year low of $114.60 and a 1-year high of $188.01. The firm has a market capitalization of $6.24 billion, a PE ratio of 40.22 and a beta of 1.52.

Wall Street Analyst Weigh In

SITE has been the subject of several recent analyst reports. Barclays decreased their price objective on shares of SiteOne Landscape Supply from $129.00 to $114.00 and set an “underweight” rating for the company in a report on Friday, July 12th. Royal Bank of Canada reduced their target price on SiteOne Landscape Supply from $133.00 to $132.00 and set a “sector perform” rating on the stock in a report on Thursday. Robert W. Baird lowered their price target on SiteOne Landscape Supply from $175.00 to $168.00 and set an “outperform” rating for the company in a report on Thursday. Jefferies Financial Group reduced their price objective on SiteOne Landscape Supply from $160.00 to $125.00 and set a “hold” rating on the stock in a research note on Thursday, July 11th. Finally, Loop Capital lowered their target price on shares of SiteOne Landscape Supply from $155.00 to $140.00 and set a “hold” rating for the company in a research note on Thursday, June 13th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $144.33.

About SiteOne Landscape Supply

SiteOne Landscape Supply, Inc, together with its subsidiaries, engages in the wholesale distribution of landscape supplies in the United States and Canada. The company provides irrigation products, including controllers, valves, sprinkler heads, irrigation pipes, micro irrigation, and drip products; fertilizer, grass seed, and ice melt products; control products, such as herbicides, fungicides, rodenticides, and other pesticides; landscape accessories that include mulches, soil amendments, drainage pipes, tools, and sods; nursery goods, which consist of deciduous and evergreen shrubs, ornamental, shade, evergreen trees, field grown and container-grown nursery stock, roses, perennials, annuals, bulbs, and plant species and cultivars; hardscapes, such as pavers, natural stones, blocks, and other durable materials; and outdoor lighting products that include lighting fixtures, LED lamps, wires, transformers, and accessories.