Central Garden & Pet (NASDAQ:CENTA) Expected to Announce Quarterly Sales of $874.81 Million

Brokerages expect that Central Garden & Pet (NASDAQ:CENTA) will announce $874.81 million in sales for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Central Garden & Pet’s earnings. The highest sales estimate is $884.60 million and the lowest is $860.04 million. Central Garden & Pet posted sales of $703.23 million in the same quarter last year, which would indicate a positive year over year growth rate of 24.4%. The firm is scheduled to report its next earnings report on Wednesday, May 5th.

According to Zacks, analysts expect that Central Garden & Pet will report full year sales of $3.05 billion for the current financial year, with estimates ranging from $2.93 billion to $3.14 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $3.26 billion, with estimates ranging from $2.98 billion to $3.58 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Central Garden & Pet.

Central Garden & Pet (NASDAQ:CENTA) last posted its earnings results on Wednesday, February 3rd. The company reported $0.28 earnings per share (EPS) for the quarter. Central Garden & Pet had a return on equity of 12.03% and a net margin of 4.48%. The firm had revenue of $592.23 million during the quarter, compared to analysts’ expectations of $555.55 million.

CENTA has been the topic of a number of research reports. KeyCorp boosted their price target on Central Garden & Pet from $48.00 to $57.00 and gave the company an “overweight” rating in a report on Monday. JPMorgan Chase & Co. boosted their price target on Central Garden & Pet from $45.00 to $53.00 and gave the company a “neutral” rating in a report on Friday, April 16th. Zacks Investment Research upgraded Central Garden & Pet from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a report on Monday, March 8th. Finally, Monness Crespi & Hardt boosted their price target on Central Garden & Pet from $47.00 to $59.00 and gave the company a “buy” rating in a report on Tuesday, April 13th. They noted that the move was a valuation call. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. Central Garden & Pet has an average rating of “Buy” and an average price target of $54.75.

Shares of Central Garden & Pet stock opened at $50.97 on Wednesday. The firm has a market cap of $2.81 billion, a price-to-earnings ratio of 22.96 and a beta of 0.69. The stock’s 50-day moving average is $48.96 and its 200-day moving average is $40.74. Central Garden & Pet has a one year low of $29.02 and a one year high of $55.07. The company has a debt-to-equity ratio of 0.64, a current ratio of 3.46 and a quick ratio of 2.47.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CENTA. Amundi Pioneer Asset Management Inc. acquired a new position in Central Garden & Pet during the first quarter worth approximately $56,000. Veriti Management LLC acquired a new position in Central Garden & Pet during the fourth quarter worth approximately $65,000. FNY Investment Advisers LLC increased its position in Central Garden & Pet by 39.8% during the first quarter. FNY Investment Advisers LLC now owns 1,720 shares of the company’s stock worth $89,000 after buying an additional 490 shares during the last quarter. Intersect Capital LLC acquired a new position in Central Garden & Pet during the first quarter worth approximately $202,000. Finally, First Citizens Bank & Trust Co. acquired a new position in Central Garden & Pet during the first quarter worth approximately $215,000. Institutional investors and hedge funds own 63.28% of the company’s stock.

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 provides pet supplies products, including edible chews and treats, dog chew toys, dog play toys, natural dog treats and chews, pet dental chews and solutions, dog training pads, pet containment, grooming supplies, and other accessories; products for birds, small animals, and specialty pets comprising food, cages and habitats, toys, chews, and related accessories; 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.

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

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