Zacks: Brokerages Expect SiteOne Landscape Supply Inc (SITE) Will Post Quarterly Sales of $426.25 Million
Equities analysts expect that SiteOne Landscape Supply Inc (NYSE:SITE) will post $426.25 million in sales for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for SiteOne Landscape Supply’s earnings. The lowest sales estimate is $422.30 million and the highest is $432.79 million. SiteOne Landscape Supply reported sales of $371.40 million in the same quarter last year, which indicates a positive year over year growth rate of 14.8%. The company is scheduled to report its next quarterly earnings report on Wednesday, May 1st.
On average, analysts expect that SiteOne Landscape Supply will report full-year sales of $2.36 billion for the current year, with estimates ranging from $2.32 billion to $2.41 billion. For the next year, analysts forecast that the firm will post sales of $2.57 billion, with estimates ranging from $2.46 billion to $2.73 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow SiteOne Landscape Supply.
SiteOne Landscape Supply (NYSE:SITE) last released its earnings results on Tuesday, February 19th. The industrial products company reported ($0.05) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.02. The company had revenue of $474.60 million for the quarter, compared to analysts’ expectations of $473.18 million. SiteOne Landscape Supply had a return on equity of 27.46% and a net margin of 3.50%. The business’s revenue for the quarter was up 14.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.09 EPS.
SITE traded up $2.41 during trading hours on Thursday, hitting $66.30. The stock had a trading volume of 400,101 shares, compared to its average volume of 458,945. SiteOne Landscape Supply has a 1 year low of $45.32 and a 1 year high of $95.49. The firm has a market cap of $2.67 billion, a P/E ratio of 38.32 and a beta of 1.04. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.25 and a current ratio of 2.71.
In other news, EVP Pascal Convers sold 9,750 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $54.79, for a total transaction of $534,202.50. Following the completion of the transaction, the executive vice president now owns 9,750 shares of the company’s stock, valued at $534,202.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 29,250 shares of company stock valued at $1,688,993 in the last three months. 4.10% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC grew its stake in SiteOne Landscape Supply by 67.9% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,431,340 shares of the industrial products company’s stock worth $134,380,000 after acquiring an additional 983,117 shares during the period. Brown Advisory Inc. increased its position in SiteOne Landscape Supply by 92.7% in the 4th quarter. Brown Advisory Inc. now owns 793,021 shares of the industrial products company’s stock valued at $43,829,000 after acquiring an additional 381,468 shares in the last quarter. Norges Bank acquired a new stake in SiteOne Landscape Supply in the 4th quarter valued at about $14,846,000. Millennium Management LLC increased its position in SiteOne Landscape Supply by 619.6% in the 4th quarter. Millennium Management LLC now owns 276,709 shares of the industrial products company’s stock valued at $15,294,000 after acquiring an additional 238,257 shares in the last quarter. Finally, Thrivent Financial for Lutherans increased its position in SiteOne Landscape Supply by 30.7% in the 4th quarter. Thrivent Financial for Lutherans now owns 950,115 shares of the industrial products company’s stock valued at $52,512,000 after acquiring an additional 223,258 shares in the last quarter.
About SiteOne Landscape Supply
SiteOne Landscape Supply, Inc engages in the wholesale distribution of landscape supplies in the United States and Canada. The company provides a selection of approximately 120,000 stock keeping units, including irrigation supplies, fertilizer and control products, landscape accessories, nursery goods, outdoor lightings, and ice melt products, as well as hardscapes, such as pavers, natural stones, and blocks.
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