Central Garden & Pet Company (NASDAQ:CENT) – Research analysts at SunTrust Banks reduced their Q2 2018 earnings per share estimates for shares of Central Garden & Pet in a report released on Wednesday. SunTrust Banks analyst W. Chappell now anticipates that the company will post earnings of $0.74 per share for the quarter, down from their previous forecast of $0.76. SunTrust Banks also issued estimates for Central Garden & Pet’s Q3 2018 earnings at $0.61 EPS and Q4 2018 earnings at $0.20 EPS.

Central Garden & Pet (NASDAQ:CENT) last announced its quarterly earnings results on Wednesday, August 2nd. The company reported $0.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.11. Central Garden & Pet had a return on equity of 13.66% and a net margin of 3.49%. The firm had revenue of $574.59 million during the quarter, compared to analyst estimates of $544.26 million. During the same quarter in the previous year, the business earned $0.48 EPS. Central Garden & Pet’s revenue for the quarter was up 11.7% compared to the same quarter last year. COPYRIGHT VIOLATION WARNING: “Central Garden & Pet Company Expected to Post Q2 2018 Earnings of $0.74 Per Share (NASDAQ:CENT)” was published by American Banking News and is the sole property of of American Banking News. If you are viewing this news story on another site, it was stolen and reposted in violation of United States & international trademark & copyright legislation. The original version of this news story can be read at https://www.americanbankingnews.com/2017/08/07/central-garden-pet-company-expected-to-post-q2-2018-earnings-of-0-74-per-share-nasdaqcent.html.

A number of other brokerages also recently commented on CENT. Zacks Investment Research downgraded shares of Central Garden & Pet from a “hold” rating to a “sell” rating in a research report on Thursday, July 20th. CL King initiated coverage on shares of Central Garden & Pet in a research report on Friday, July 7th. They issued a “buy” rating and a $38.00 price objective for the company. Sidoti upgraded shares of Central Garden & Pet from a “neutral” rating to a “buy” rating in a research report on Monday, June 19th. BidaskClub upgraded shares of Central Garden & Pet from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. Finally, Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Central Garden & Pet in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. Central Garden & Pet currently has an average rating of “Hold” and a consensus target price of $39.50.

Central Garden & Pet (NASDAQ CENT) opened at 35.33 on Monday. The company has a 50 day moving average price of $32.02 and a 200 day moving average price of $33.93. Central Garden & Pet has a 52 week low of $22.97 and a 52 week high of $39.33. The stock has a market cap of $1.83 billion, a price-to-earnings ratio of 26.64 and a beta of 0.12.

In other Central Garden & Pet news, insider Michael A. Reed sold 15,107 shares of the stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $33.21, for a total value of $501,703.47. Following the completion of the transaction, the insider now directly owns 142,558 shares of the company’s stock, valued at $4,734,351.18. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director John Ranelli sold 1,196 shares of the stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $32.47, for a total transaction of $38,834.12. Following the completion of the transaction, the director now directly owns 47,489 shares of the company’s stock, valued at $1,541,967.83. The disclosure for this sale can be found here. In the last 90 days, insiders sold 82,382 shares of company stock valued at $2,613,603. 11.60% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BNP Paribas Arbitrage SA boosted its position in shares of Central Garden & Pet by 20.7% in the second quarter. BNP Paribas Arbitrage SA now owns 3,136 shares of the company’s stock worth $100,000 after buying an additional 537 shares during the period. Sei Investments Co. boosted its position in shares of Central Garden & Pet by 8.9% in the second quarter. Sei Investments Co. now owns 4,633 shares of the company’s stock worth $148,000 after buying an additional 380 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Central Garden & Pet by 65.7% in the first quarter. PNC Financial Services Group Inc. now owns 4,140 shares of the company’s stock worth $153,000 after buying an additional 1,641 shares during the period. Hartford Investment Management Co. bought a new position in shares of Central Garden & Pet during the first quarter worth about $204,000. Finally, Thrivent Financial For Lutherans bought a new position in shares of Central Garden & Pet during the first quarter worth about $212,000. 21.19% of the stock is owned by institutional investors.

Central Garden & Pet Company Profile

Central Garden & Pet Company is a marketer and producer of branded products and distributor of third party products in the pet and lawn and garden supplies industries in the United States. The Company operates in two segments: Pet segment and the Garden segment. It is a marketer and producer of pet supplies in the United States.

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

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