Zacks: Brokerages Expect SiteOne Landscape Supply Inc (NYSE:SITE) Will Post Earnings of $0.74 Per Share

Equities research analysts forecast that SiteOne Landscape Supply Inc (NYSE:SITE) will report earnings of $0.74 per share for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for SiteOne Landscape Supply’s earnings. The lowest EPS estimate is $0.68 and the highest is $0.80. SiteOne Landscape Supply reported earnings of $0.70 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 5.7%. The company is expected to report its next quarterly earnings report on Wednesday, October 30th.

On average, analysts expect that SiteOne Landscape Supply will report full-year earnings of $1.62 per share for the current year, with EPS estimates ranging from $1.55 to $1.75. For the next year, analysts expect that the business will post earnings of $2.13 per share, with EPS estimates ranging from $1.92 to $2.40. Zacks’ earnings per share averages are an average based on a survey of research analysts that cover SiteOne Landscape Supply.

SiteOne Landscape Supply (NYSE:SITE) last posted its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $1.52 EPS for the quarter, missing the consensus estimate of $1.62 by ($0.10). SiteOne Landscape Supply had a return on equity of 22.24% and a net margin of 3.08%. The company had revenue of $752.40 million for the quarter, compared to analysts’ expectations of $774.03 million. During the same quarter in the prior year, the firm earned $1.48 EPS. The firm’s revenue was up 9.4% on a year-over-year basis.



Several research analysts have recently commented on the company. Robert W. Baird upgraded SiteOne Landscape Supply from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $64.00 to $77.00 in a report on Tuesday, June 25th. Berenberg Bank lowered SiteOne Landscape Supply from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. Royal Bank of Canada lifted their price target on SiteOne Landscape Supply to $68.00 and gave the stock a “sector perform” rating in a report on Thursday, August 1st. ValuEngine upgraded SiteOne Landscape Supply from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Finally, Zacks Investment Research lowered SiteOne Landscape Supply from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $76.90.

Shares of NYSE SITE traded down $3.33 during trading on Friday, hitting $74.48. 424,398 shares of the company were exchanged, compared to its average volume of 228,481. SiteOne Landscape Supply has a 12-month low of $45.32 and a 12-month high of $83.35. The company has a debt-to-equity ratio of 2.33, a quick ratio of 1.13 and a current ratio of 2.50. The company has a fifty day moving average price of $76.20 and a 200-day moving average price of $66.91. The firm has a market capitalization of $3.21 billion, a PE ratio of 43.05 and a beta of 1.03.

In related news, EVP L Briley Brisendine, Jr. sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $70.35, for a total transaction of $1,407,000.00. Following the completion of the sale, the executive vice president now directly owns 38,336 shares of the company’s stock, valued at approximately $2,696,937.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Greg Weller sold 922 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $72.05, for a total value of $66,430.10. Following the sale, the vice president now directly owns 10,361 shares of the company’s stock, valued at $746,510.05. The disclosure for this sale can be found here. Insiders have sold a total of 40,754 shares of company stock valued at $2,947,184 over the last three months. Corporate insiders own 4.10% of the company’s stock.

Several large investors have recently modified their holdings of SITE. Baillie Gifford & Co. grew its position in SiteOne Landscape Supply by 55.0% in the 2nd quarter. Baillie Gifford & Co. now owns 4,017,424 shares of the industrial products company’s stock valued at $278,406,000 after acquiring an additional 1,425,508 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in SiteOne Landscape Supply by 2.8% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 3,895,982 shares of the industrial products company’s stock valued at $269,992,000 after acquiring an additional 106,931 shares in the last quarter. Vanguard Group Inc. grew its position in SiteOne Landscape Supply by 0.4% in the 2nd quarter. Vanguard Group Inc. now owns 3,705,624 shares of the industrial products company’s stock valued at $256,801,000 after acquiring an additional 14,591 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its position in SiteOne Landscape Supply by 5.8% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,115,029 shares of the industrial products company’s stock valued at $215,871,000 after acquiring an additional 169,679 shares in the last quarter. Finally, Wasatch Advisors Inc. grew its position in SiteOne Landscape Supply by 36.2% in the 2nd quarter. Wasatch Advisors Inc. now owns 1,839,579 shares of the industrial products company’s stock valued at $127,483,000 after acquiring an additional 488,656 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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