SiteOne Landscape Supply Inc (SITE) to Post Q2 2019 Earnings of $1.65 Per Share, Jefferies Financial Group Forecasts

SiteOne Landscape Supply Inc (NYSE:SITE) – Jefferies Financial Group reduced their Q2 2019 earnings per share (EPS) estimates for SiteOne Landscape Supply in a report released on Wednesday, May 1st. Jefferies Financial Group analyst S. Volkmann now anticipates that the industrial products company will post earnings of $1.65 per share for the quarter, down from their previous forecast of $1.75. Jefferies Financial Group also issued estimates for SiteOne Landscape Supply’s Q3 2019 earnings at $0.75 EPS.

SITE has been the subject of several other research reports. SunTrust Banks downgraded shares of SiteOne Landscape Supply from a “buy” rating to a “hold” rating in a research note on Tuesday, January 15th. TheStreet downgraded shares of SiteOne Landscape Supply from a “c” rating to a “d+” rating in a research note on Wednesday, February 20th. UBS Group set a $58.00 price target on shares of SiteOne Landscape Supply and gave the company a “hold” rating in a research note on Wednesday, February 20th. Royal Bank of Canada set a $61.00 price target on shares of SiteOne Landscape Supply and gave the company a “hold” rating in a research note on Thursday. Finally, ValuEngine downgraded shares of SiteOne Landscape Supply from a “hold” rating to a “sell” rating in a research note on Wednesday, January 30th. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $74.10.

SITE stock opened at $63.48 on Friday. The firm has a market cap of $2.44 billion, a PE ratio of 36.69 and a beta of 1.14. SiteOne Landscape Supply has a 52-week low of $45.32 and a 52-week high of $95.49. The company has a quick ratio of 1.25, a current ratio of 2.71 and a debt-to-equity ratio of 1.87.

SiteOne Landscape Supply (NYSE:SITE) last issued its quarterly earnings data on Wednesday, May 1st. The industrial products company reported ($0.59) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.48) by ($0.11). The company had revenue of $417.30 million during the quarter, compared to the consensus estimate of $425.91 million. SiteOne Landscape Supply had a net margin of 3.50% and a return on equity of 27.46%. SiteOne Landscape Supply’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same period in the previous year, the company earned ($0.43) EPS.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of SiteOne Landscape Supply by 2.7% during the third quarter. Vanguard Group Inc. now owns 3,525,583 shares of the industrial products company’s stock worth $265,619,000 after buying an additional 93,375 shares during the period. Vanguard Group Inc increased its position in shares of SiteOne Landscape Supply by 2.7% during the third quarter. Vanguard Group Inc now owns 3,525,583 shares of the industrial products company’s stock worth $265,619,000 after buying an additional 93,375 shares during the period. Kayne Anderson Rudnick Investment Management LLC increased its position in shares of SiteOne Landscape Supply by 67.9% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,431,340 shares of the industrial products company’s stock worth $134,380,000 after buying an additional 983,117 shares during the period. Ontario Teachers Pension Plan Board increased its position in shares of SiteOne Landscape Supply by 2.6% during the fourth quarter. Ontario Teachers Pension Plan Board now owns 2,000,000 shares of the industrial products company’s stock worth $110,540,000 after buying an additional 50,000 shares during the period. Finally, Victory Capital Management Inc. increased its position in shares of SiteOne Landscape Supply by 25.5% during the fourth quarter. Victory Capital Management Inc. now owns 997,275 shares of the industrial products company’s stock worth $55,120,000 after buying an additional 202,625 shares during the period.

In other news, EVP Pascal Convers sold 9,750 shares of the stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $63.74, for a total transaction of $621,465.00. Following the completion of the sale, the executive vice president now directly owns 9,750 shares in the company, valued at $621,465. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders have sold 29,250 shares of company stock valued at $1,688,993 in the last ninety days. Insiders own 4.10% of the company’s stock.

SiteOne Landscape Supply Company Profile

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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Earnings History and Estimates for SiteOne Landscape Supply (NYSE:SITE)

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