November 9, 2020

$596.50 Million in Sales Expected for Central Garden & Pet (NASDAQ:CENTA) This Quarter

By haziqbinarif


Wall Street analysts expect Central Garden & Pet (NASDAQ:CENTA) to report sales of $596.50 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Central Garden & Pet’s earnings, with the highest sales estimate coming in at $612.70 million and the lowest estimate coming in at $576.60 million. Central Garden & Pet posted sales of $540.74 million in the same quarter last year, which would indicate a positive year over year growth rate of 10.3%. The firm is expected to announce its next quarterly earnings report on Tuesday, November 24th.

According to Zacks, analysts expect that Central Garden & Pet will report full-year sales of $2.62 billion for the current fiscal year, with estimates ranging from $2.60 billion to $2.63 billion. For the next year, analysts expect that the business will post sales of $2.63 billion, with estimates ranging from $2.58 billion to $2.70 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Central Garden & Pet.

CENTA has been the topic of several research reports. Zacks Investment Research raised shares of Central Garden & Pet from a “hold” rating to a “strong-buy” rating and set a $43.00 price target on the stock in a research report on Thursday, October 22nd. Monness Crespi & Hardt increased their price target on shares of Central Garden & Pet from $36.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Finally, KeyCorp increased their price target on shares of Central Garden & Pet from $38.00 to $40.00 and gave the stock an “overweight” rating in a research report on Monday, August 3rd. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $39.50.

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NASDAQ CENTA opened at $36.77 on Monday. The stock has a market capitalization of $2.01 billion, a P/E ratio of 18.29 and a beta of 0.79. Central Garden & Pet has a 12 month low of $21.66 and a 12 month high of $41.10. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.81 and a quick ratio of 2.70. The firm’s 50-day moving average is $36.51 and its two-hundred day moving average is $34.76.

Several hedge funds have recently added to or reduced their stakes in CENTA. FNY Investment Advisers LLC increased its stake in Central Garden & Pet by 43.5% in the third quarter. FNY Investment Advisers LLC now owns 1,600 shares of the company’s stock valued at $57,000 after purchasing an additional 485 shares during the last quarter. Alpha Windward LLC increased its stake in Central Garden & Pet by 8.2% in the third quarter. Alpha Windward LLC now owns 11,100 shares of the company’s stock valued at $401,000 after purchasing an additional 840 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in Central Garden & Pet by 11.1% in the second quarter. PNC Financial Services Group Inc. now owns 8,811 shares of the company’s stock valued at $298,000 after purchasing an additional 881 shares during the last quarter. Macquarie Group Ltd. purchased a new position in Central Garden & Pet in the second quarter valued at approximately $30,000. Finally, Advisor Group Holdings Inc. purchased a new position in Central Garden & Pet in the first quarter valued at approximately $39,000. Hedge funds and other institutional investors own 66.14% of the company’s stock.

About Central Garden & Pet

Central Garden & Pet Company, together with its subsidiaries, produces and distributes 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 supplies products for dogs and cats, including edible bones, edible and non-edible chews, rawhides, dog and cat food and treats, toys, pet carriers, grooming supplies, and other accessories; and products for birds, small animals, and specialty pets, such as cages and habitats, toys, chews, and related accessories.

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Earnings History and Estimates for Central Garden & Pet (NASDAQ:CENTA)

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