Central Garden & Pet Issues FY24 Earnings Guidance Update
Central Garden & Pet (NASDAQ:CENT) recently provided an update on its FY24 earnings guidance, exceeding expectations with an EPS guidance of $2.50 compared to the consensus estimate of $2.15. The company also adjusted its FY 2024 guidance to 2.000 EPS. This news caused shares of CENT stock to trade up $0.18, reaching $41.73 during trading hours on Wednesday.
Central Garden & Pet, with a market cap of $2.81 billion, has a 52-week low of $28.58 and a high of $44.45. The company’s financial performance has been strong, with a price-to-earnings ratio of 20.70 and a beta of 0.72. Analysts forecast that Central Garden & Pet will post 2.37 EPS for the current year.
Several research firms have weighed in on CENT, with positive ratings and price target increases. The company’s recent earnings report showed a significant beat, with earnings per share of $0.01 for the quarter, surpassing analysts’ estimates. Central Garden & Pet’s revenue for the quarter was $634.53 million, exceeding analyst expectations.
In terms of insider activity, CFO Nicholas Lahanas recently sold shares of the company’s stock, further showcasing confidence in Central Garden & Pet’s performance. The company’s Pet segment provides a wide range of products for the lawn and garden, and pet supplies markets in the United States.
Overall, Central Garden & Pet’s strong financial performance and positive outlook have garnered attention from investors and analysts alike. With a focus on innovation and growth, the company continues to position itself as a leader in its industry.
