Brokerages forecast that Central Garden & Pet (NASDAQ:CENT) will post $619.66 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Central Garden & Pet’s earnings, with the highest sales estimate coming in at $629.60 million and the lowest estimate coming in at $610.07 million. Central Garden & Pet reported sales of $592.23 million in the same quarter last year, which would suggest a positive year over year growth rate of 4.6%. The company is scheduled to report its next earnings results on Wednesday, February 2nd.
According to Zacks, analysts expect that Central Garden & Pet will report full-year sales of $3.44 billion for the current financial year, with estimates ranging from $3.38 billion to $3.48 billion. For the next fiscal year, analysts forecast that the business will report sales of $3.54 billion, with estimates ranging from $3.48 billion to $3.58 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Central Garden & Pet.
Central Garden & Pet (NASDAQ:CENT) last announced its quarterly earnings data on Monday, November 22nd. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.18. Central Garden & Pet had a return on equity of 15.62% and a net margin of 5.19%. During the same quarter in the prior year, the company posted $0.25 earnings per share.
Several institutional investors and hedge funds have recently modified their holdings of CENT. Geode Capital Management LLC increased its position in shares of Central Garden & Pet by 147.5% during the second quarter. Geode Capital Management LLC now owns 471,334 shares of the company’s stock valued at $24,947,000 after acquiring an additional 280,923 shares during the last quarter. Allianz Asset Management GmbH lifted its stake in shares of Central Garden & Pet by 47.4% in the 2nd quarter. Allianz Asset Management GmbH now owns 514,537 shares of the company’s stock valued at $27,234,000 after acquiring an additional 165,530 shares during the last quarter. MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income purchased a new position in Central Garden & Pet during the 3rd quarter valued at about $7,746,000. Hotchkis & Wiley Capital Management LLC increased its holdings in Central Garden & Pet by 47.5% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 191,297 shares of the company’s stock valued at $9,182,000 after purchasing an additional 61,620 shares during the period. Finally, Vanguard Group Inc. increased its holdings in Central Garden & Pet by 3.7% during the 2nd quarter. Vanguard Group Inc. now owns 1,333,283 shares of the company’s stock valued at $70,571,000 after purchasing an additional 47,322 shares during the period. 18.23% of the stock is owned by institutional investors.
Shares of CENT stock traded down $0.16 during trading hours on Monday, reaching $51.45. The company had a trading volume of 52,551 shares, compared to its average volume of 73,302. Central Garden & Pet has a 12 month low of $36.53 and a 12 month high of $62.91. The company has a debt-to-equity ratio of 0.95, a current ratio of 3.29 and a quick ratio of 2.07. The business has a fifty day simple moving average of $50.80 and a 200-day simple moving average of $51.06. The company has a market cap of $2.87 billion, a price-to-earnings ratio of 16.92 and a beta of 0.55.
About Central Garden & Pet
Central Garden & Pet Co is an innovator, producer and distributor of branded and private label products for the lawn & garden and pet supplies markets in the United States. Founded initially as a distribution company, it grew its business through a succession of over 50 acquisitions and created a broad portfolio which allows for economies of scale and market advantages.
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