Central Garden & Pet (CENT) Set to Announce Earnings on Wednesday

Central Garden & Pet (NASDAQ:CENT) is scheduled to be releasing its earnings data after the market closes on Wednesday, August 7th. Analysts expect Central Garden & Pet to post earnings of $1.25 per share for the quarter. Central Garden & Pet has set its FY 2024 guidance at 2.000- EPS and its FY24 guidance at $2.50 EPS.Parties interested in listening to the company’s conference call can do so using this link.

Central Garden & Pet (NASDAQ:CENT) last issued its earnings results on Wednesday, May 8th. The company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.16. The firm had revenue of $900.10 million during the quarter, compared to analyst estimates of $888.74 million. Central Garden & Pet had a net margin of 4.49% and a return on equity of 11.30%. The company’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter last year, the business earned $0.72 earnings per share. On average, analysts expect Central Garden & Pet to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Central Garden & Pet Stock Performance

NASDAQ:CENT traded down $0.63 on Wednesday, reaching $39.39. 4,248 shares of the company’s stock were exchanged, compared to its average volume of 112,685. The company has a debt-to-equity ratio of 0.79, a current ratio of 3.33 and a quick ratio of 1.68. The firm has a market cap of $2.65 billion, a price-to-earnings ratio of 17.98 and a beta of 0.78. Central Garden & Pet has a 52 week low of $30.75 and a 52 week high of $47.48. The stock has a fifty day simple moving average of $40.10 and a 200-day simple moving average of $41.03.

Insider Activity at Central Garden & Pet

In other Central Garden & Pet news, CFO Nicholas Lahanas sold 30,000 shares of Central Garden & Pet stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $39.98, for a total transaction of $1,199,400.00. Following the transaction, the chief financial officer now directly owns 87,528 shares of the company’s stock, valued at $3,499,369.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Central Garden & Pet news, insider John D. Walker III sold 4,218 shares of Central Garden & Pet stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $40.31, for a total transaction of $170,027.58. Following the transaction, the insider now directly owns 85,063 shares of the company’s stock, valued at $3,428,889.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Nicholas Lahanas sold 30,000 shares of Central Garden & Pet stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $39.98, for a total transaction of $1,199,400.00. Following the transaction, the chief financial officer now directly owns 87,528 shares in the company, valued at $3,499,369.44. The disclosure for this sale can be found here. Insiders have sold 744,218 shares of company stock valued at $27,144,928 over the last three months. 9.53% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

CENT has been the subject of a number of analyst reports. Canaccord Genuity Group upgraded shares of Central Garden & Pet to a “strong-buy” rating in a research report on Monday, July 1st. Canaccord Genuity Group cut their price objective on shares of Central Garden & Pet from $52.00 to $49.00 and set a “buy” rating for the company in a research report on Monday, July 1st. Argus upgraded shares of Central Garden & Pet from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research report on Tuesday, May 28th. Finally, Monness Crespi & Hardt upgraded shares of Central Garden & Pet to a “strong-buy” rating in a research report on Thursday, May 9th. Three analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Central Garden & Pet presently has an average rating of “Buy” and a consensus price target of $52.75.

About Central Garden & Pet

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 containment, grooming products, waste management, and training pads; supplies for aquatics, small animals, reptiles, and pet birds, including toys, cages and habitats, bedding, and food and supplements; products for equine and livestock; animal and household health and insect control products; aquariums and terrariums, including fixtures and stands, water conditioners and supplements, water pumps and filters, and lighting systems and accessories; and live fish and small animals, as well as outdoor cushions.