SiteOne Landscape Supply Inc to Post FY2019 Earnings of $1.64 Per Share, SunTrust Banks Forecasts (SITE)

SiteOne Landscape Supply Inc (NYSE:SITE) – Analysts at SunTrust Banks dropped their FY2019 earnings estimates for shares of SiteOne Landscape Supply in a report issued on Wednesday, May 1st. SunTrust Banks analyst K. Hughes now expects that the industrial products company will post earnings per share of $1.64 for the year, down from their previous forecast of $1.75. SunTrust Banks has a “Hold” rating on the stock. SunTrust Banks also issued estimates for SiteOne Landscape Supply’s Q1 2020 earnings at ($0.50) EPS, Q2 2020 earnings at $1.78 EPS, Q3 2020 earnings at $0.86 EPS and Q4 2020 earnings at ($0.01) EPS.

Several other brokerages have also recently commented on SITE. TheStreet raised shares of SiteOne Landscape Supply from a “d+” rating to a “c-” rating in a research report on Monday, April 29th. Zacks Investment Research raised SiteOne Landscape Supply from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 24th. ValuEngine raised SiteOne Landscape Supply from a “sell” rating to a “hold” rating in a report on Friday, April 5th. Royal Bank of Canada set a $61.00 price objective on SiteOne Landscape Supply and gave the stock a “hold” rating in a report on Thursday. Finally, UBS Group set a $58.00 price objective on SiteOne Landscape Supply and gave the stock a “hold” rating in a report on Wednesday, February 20th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $74.10.

Shares of SITE stock traded up $3.82 during trading hours on Friday, hitting $63.48. 566,500 shares of the company were exchanged, compared to its average volume of 394,035. The company has a debt-to-equity ratio of 2.87, a quick ratio of 1.25 and a current ratio of 2.38. SiteOne Landscape Supply has a one year low of $45.32 and a one year high of $95.49. The stock has a market capitalization of $2.60 billion, a price-to-earnings ratio of 36.69 and a beta of 1.14.

SiteOne Landscape Supply (NYSE:SITE) last issued its quarterly earnings results on Wednesday, May 1st. The industrial products company reported ($0.59) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.11). SiteOne Landscape Supply had a return on equity of 23.17% and a net margin of 3.10%. The company had revenue of $417.30 million for the quarter, compared to the consensus estimate of $425.91 million. During the same period in the previous year, the business posted ($0.43) EPS. The business’s revenue for the quarter was up 12.4% on a year-over-year basis.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Kayne Anderson Rudnick Investment Management LLC lifted its position in SiteOne Landscape Supply by 67.9% in the 4th 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 in the last quarter. Brown Advisory Inc. boosted its position in SiteOne Landscape Supply by 92.7% in the 4th quarter. Brown Advisory Inc. now owns 793,021 shares of the industrial products company’s stock valued at $43,829,000 after buying an additional 381,468 shares during the last quarter. Norges Bank bought a new position in shares of SiteOne Landscape Supply during the fourth quarter worth about $14,846,000. Millennium Management LLC lifted its position in shares of SiteOne Landscape Supply by 619.6% during the fourth quarter. Millennium Management LLC now owns 276,709 shares of the industrial products company’s stock worth $15,294,000 after purchasing an additional 238,257 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its position in shares of SiteOne Landscape Supply by 30.7% during the fourth quarter. Thrivent Financial for Lutherans now owns 950,115 shares of the industrial products company’s stock worth $52,512,000 after purchasing an additional 223,258 shares during the last quarter.

In other SiteOne Landscape Supply news, EVP Pascal Convers sold 9,750 shares of the company’s stock in a transaction that occurred on Wednesday, February 13th. The stock was sold at an average price of $54.70, for a total value of $533,325.00. Following the completion of the sale, the executive vice president now owns 9,750 shares of the company’s stock, valued at $533,325. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last ninety days, insiders sold 29,250 shares of company stock valued at $1,688,993. 4.10% of the stock is owned by insiders.

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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