Central Garden & Pet (NASDAQ:CENT) Posts Quarterly Earnings Results, Misses Estimates By $0.06 EPS

Central Garden & Pet (NASDAQ:CENT) announced its earnings results on Thursday. The company reported $0.80 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.86 by ($0.06), Bloomberg Earnings reports. The business had revenue of $706.60 million for the quarter, compared to analyst estimates of $685.99 million. Central Garden & Pet had a return on equity of 9.82% and a net margin of 4.30%. The company’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.79 earnings per share. Central Garden & Pet updated its FY 2019 guidance to $1.72 EPS and its FY19 guidance to $1.72 or higher EPS.

NASDAQ CENT traded down $6.67 during mid-day trading on Friday, hitting $23.43. The stock had a trading volume of 341,381 shares, compared to its average volume of 59,118. The stock’s 50 day moving average is $28.21. Central Garden & Pet has a twelve month low of $23.03 and a twelve month high of $43.93. The company has a debt-to-equity ratio of 0.69, a current ratio of 4.52 and a quick ratio of 2.79. The company has a market capitalization of $1.75 billion, a PE ratio of 12.27 and a beta of -0.13.

CENT has been the subject of several research analyst reports. ValuEngine raised Central Garden & Pet from a “strong sell” rating to a “sell” rating in a research note on Monday, April 15th. BidaskClub raised Central Garden & Pet from a “sell” rating to a “hold” rating in a research note on Wednesday, July 24th. Finally, SunTrust Banks downgraded Central Garden & Pet from a “buy” rating to a “hold” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $40.50.

In related news, Director Brooks Pennington III sold 1,644 shares of the stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $26.24, for a total value of $43,138.56. Following the completion of the transaction, the director now directly owns 42,023 shares of the company’s stock, valued at approximately $1,102,683.52. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider George C. Roeth sold 3,398 shares of the stock in a transaction on Friday, May 31st. The shares were sold at an average price of $25.42, for a total value of $86,377.16. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,962 shares of company stock valued at $288,224. 12.60% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of CENT. Huntington National Bank raised its stake in Central Garden & Pet by 33.6% in the 1st quarter. Huntington National Bank now owns 1,543 shares of the company’s stock valued at $39,000 after purchasing an additional 388 shares during the last quarter. Mint Tower Capital Management B.V. acquired a new position in Central Garden & Pet in the 1st quarter valued at $50,000. BNP Paribas Arbitrage SA raised its stake in Central Garden & Pet by 611.5% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,405 shares of the company’s stock valued at $61,000 after purchasing an additional 2,067 shares during the last quarter. Advisor Group Inc. raised its stake in Central Garden & Pet by 32.2% in the 2nd quarter. Advisor Group Inc. now owns 3,062 shares of the company’s stock valued at $82,000 after purchasing an additional 745 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan acquired a new position in Central Garden & Pet in the 4th quarter valued at $100,000. 22.63% of the stock is owned by hedge funds and other institutional investors.

Central Garden & Pet Company Profile

Central Garden & Pet Company, together with its subsidiaries, produces and distributes products for the lawn and garden, and pet supplies markets in the United States. It operates through two segments, Pet and Garden. The Pet segment supplies products for dogs and cats, including edible bones, edible and non-edible chews, dog and cat food and treats, toys, pet carriers, grooming supplies, and other accessories; and products for birds, small animals, and specialty pets, such as food, cages and habitats, toys, chews, and related accessories.

Further Reading: Calculate Your Return on Investment (ROI)

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

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