Central Garden & Pet Expected to Post FY2023 Earnings of $2.80 Per Share (NASDAQ:CENT)

Central Garden & Pet (NASDAQ:CENTGet Rating) – Equities research analysts at KeyCorp cut their FY2023 earnings estimates for Central Garden & Pet in a research report issued to clients and investors on Wednesday, August 3rd. KeyCorp analyst B. Thomas now anticipates that the company will earn $2.80 per share for the year, down from their previous forecast of $3.00. The consensus estimate for Central Garden & Pet’s current full-year earnings is $2.77 per share.

Central Garden & Pet (NASDAQ:CENTGet Rating) last posted its quarterly earnings data on Wednesday, May 4th. The company reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.09. The business had revenue of $954.37 million during the quarter, compared to the consensus estimate of $935.14 million. Central Garden & Pet had a net margin of 4.48% and a return on equity of 12.10%.

Central Garden & Pet Stock Performance

CENT stock opened at $44.25 on Friday. The company has a market capitalization of $2.44 billion, a P/E ratio of 16.03 and a beta of 0.54. The company has a 50-day simple moving average of $43.37 and a 200 day simple moving average of $44.47. Central Garden & Pet has a fifty-two week low of $40.03 and a fifty-two week high of $57.32. The company has a quick ratio of 1.29, a current ratio of 2.85 and a debt-to-equity ratio of 0.92.

Insider Buying and Selling

In related news, CFO Nicholas Lahanas sold 7,306 shares of the company’s stock in a transaction dated Friday, May 13th. The shares were sold at an average price of $41.78, for a total value of $305,244.68. Following the completion of the sale, the chief financial officer now owns 113,520 shares of the company’s stock, valued at $4,742,865.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 8.80% of the company’s stock.

Institutional Investors Weigh In On Central Garden & Pet

Hedge funds and other institutional investors have recently bought and sold shares of the business. Assenagon Asset Management S.A. raised its position in Central Garden & Pet by 8.9% in the first quarter. Assenagon Asset Management S.A. now owns 67,170 shares of the company’s stock worth $2,953,000 after acquiring an additional 5,492 shares in the last quarter. Truist Financial Corp raised its position in Central Garden & Pet by 3.1% in the first quarter. Truist Financial Corp now owns 8,427 shares of the company’s stock worth $371,000 after acquiring an additional 252 shares in the last quarter. Values First Advisors Inc. raised its holdings in Central Garden & Pet by 5.7% during the 1st quarter. Values First Advisors Inc. now owns 9,264 shares of the company’s stock worth $407,000 after buying an additional 498 shares during the period. Allianz Asset Management GmbH raised its holdings in Central Garden & Pet by 12.0% during the 4th quarter. Allianz Asset Management GmbH now owns 664,425 shares of the company’s stock worth $34,969,000 after buying an additional 71,092 shares during the period. Finally, Everhart Financial Group Inc. raised its holdings in Central Garden & Pet by 41.7% during the 1st quarter. Everhart Financial Group Inc. now owns 5,382 shares of the company’s stock worth $237,000 after buying an additional 1,585 shares during the period. 18.59% of the stock is currently owned by institutional investors.

Central Garden & Pet Company Profile

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Central Garden & Pet Company produces and distributes various 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 provides dog and cat supplies, such as dog treats and chews, toys, pet beds and grooming products, waste management and training pads, and pet containment; supplies for aquatics, small animals, reptiles, and pet birds, including toys, cages and habitats, bedding, and food and supplements; animal and household health and insect control products; live fish and products for fish, reptiles, and other aquarium-based pets, such as aquariums, furniture and lighting fixtures, pumps, filters, water conditioners, food, and supplements; and products for horses and livestock, as well as outdoor cushions and pillows.

See Also

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

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