Central Garden & Pet (NASDAQ:CENT) Releases Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Central Garden & Pet (NASDAQ:CENT) posted its earnings results on Monday, May 6th. The company reported $0.72 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.03, Briefing.com reports. The business had revenue of $673.70 million during the quarter, compared to analysts’ expectations of $647.00 million. Central Garden & Pet had a return on equity of 9.92% and a net margin of 4.19%. The firm’s revenue was up 9.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.86 earnings per share. Central Garden & Pet updated its FY 2019 guidance to $1.80 EPS and its FY19 guidance to $1.80 or higher EPS.

Shares of Central Garden & Pet stock traded down $0.52 during midday trading on Thursday, hitting $28.36. The company had a trading volume of 88,071 shares, compared to its average volume of 156,523. The company has a quick ratio of 2.79, a current ratio of 4.52 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $1.70 billion, a P/E ratio of 14.85 and a beta of -0.05. Central Garden & Pet has a 52-week low of $25.07 and a 52-week high of $45.02.

In other news, CEO George C. Roeth sold 3,595 shares of the firm’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $26.53, for a total value of $95,375.35. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Mary Beth Springer sold 2,325 shares of the firm’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $27.24, for a total value of $63,333.00. Following the completion of the transaction, the director now owns 1,260 shares in the company, valued at $34,322.40. The disclosure for this sale can be found here. Corporate insiders own 12.60% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. First Hawaiian Bank raised its holdings in Central Garden & Pet by 2.8% during the fourth quarter. First Hawaiian Bank now owns 12,198 shares of the company’s stock valued at $420,000 after acquiring an additional 337 shares during the period. Huntington National Bank raised its holdings in Central Garden & Pet by 41.4% during the fourth quarter. Huntington National Bank now owns 1,155 shares of the company’s stock valued at $40,000 after acquiring an additional 338 shares during the period. Legal & General Group Plc raised its holdings in Central Garden & Pet by 2.2% during the fourth quarter. Legal & General Group Plc now owns 22,511 shares of the company’s stock valued at $773,000 after acquiring an additional 475 shares during the period. Prudential Financial Inc. raised its holdings in Central Garden & Pet by 4.5% during the fourth quarter. Prudential Financial Inc. now owns 17,626 shares of the company’s stock valued at $607,000 after acquiring an additional 763 shares during the period. Finally, Oppenheimer Asset Management Inc. bought a new stake in Central Garden & Pet during the fourth quarter valued at about $29,000. 22.69% of the stock is currently owned by institutional investors.

A number of research firms have commented on CENT. Argus lowered their price target on Central Garden & Pet from $40.00 to $36.00 and set a “buy” rating for the company in a research report on Tuesday, March 5th. TheStreet lowered Central Garden & Pet from a “b” rating to a “c+” rating in a research report on Wednesday, February 27th. BidaskClub lowered Central Garden & Pet from a “buy” rating to a “hold” rating in a research report on Wednesday, January 30th. Finally, ValuEngine lowered Central Garden & Pet from a “hold” rating to a “sell” rating in a research report on Friday, February 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $40.50.

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Central Garden & Pet Company Profile

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, 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 food, cages and habitats, toys, chews, and related accessories.

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Earnings History for Central Garden & Pet (NASDAQ:CENT)

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