Investment Analysts Lower Q3 2024 EPS Estimates for Central Garden & Pet (NASDAQ:CENT) – Zacks Research

Investment analysts at Zacks Research have revised their earnings estimates for Central Garden & Pet, predicting a decrease in EPS for Q3 2024. The company is now expected to post earnings per share of $1.25 for the quarter, down from the previous forecast of $1.63. The consensus estimate for Central Garden & Pet’s full-year earnings is $2.40 per share. Additionally, Zacks Research has issued estimates for the company’s future earnings, including Q4 2024 earnings at ($0.02) EPS, FY2024 earnings at $2.24 EPS, Q3 2025 earnings at $1.38 EPS, FY2025 earnings at $2.48 EPS, and FY2026 earnings at $2.58 EPS.

Central Garden & Pet recently reported its quarterly earnings data, surpassing analysts’ expectations with $0.99 earnings per share for the quarter. The company had revenue of $900.10 million, slightly higher than analysts’ expectations of $888.74 million. Despite a 1.0% decrease in revenue compared to the previous year, Central Garden & Pet maintained a net margin of 4.49% and a return on equity of 11.30%.

Several research firms have weighed in on Central Garden & Pet, with three rating the stock as a buy and one issuing a strong buy rating. The average rating for the company is “Buy,” with an average target price of $54.67.

Central Garden & Pet stock experienced a slight decline of 0.2%, trading at $45.24 during midday trading on Friday. The stock has a 52-week low of $28.58 and a high of $47.48, with a market capitalization of $3.05 billion. The company’s price-to-earnings ratio is 20.34, and it has a beta of 0.72.

In terms of institutional activity, several large investors have recently bought and sold shares of Central Garden & Pet. Notably, CFO Nicholas Lahanas and insider John D. Walker III both sold shares of the stock in May. Lahanas sold 30,000 shares at an average price of $39.98, while Walker sold 4,218 shares at an average price of $40.31.

Central Garden & Pet Company produces and distributes various products for the lawn and garden, and pet supplies markets in the United States. The company operates through two segments: Pet and Garden, offering a wide range of products for pets, including dog and cat supplies, aquatics, small animals, and more.

While Central Garden & Pet currently has a “Buy” rating among analysts, top-rated analysts have identified five other stocks as better buys. Investors interested in the electric vehicle (EV) sector can also access MarketBeat’s guide to investing in EV technologies and promising EV stocks.