Brokers Offer Predictions for SiteOne Landscape Supply Inc’s Q4 2018 Earnings (SITE)

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SiteOne Landscape Supply Inc (NYSE:SITE) – Equities research analysts at William Blair lowered their Q4 2018 earnings per share (EPS) estimates for shares of SiteOne Landscape Supply in a research note issued to investors on Wednesday, October 31st. William Blair analyst R. Merkel now anticipates that the industrial products company will post earnings of ($0.02) per share for the quarter, down from their previous forecast of $0.06. William Blair also issued estimates for SiteOne Landscape Supply’s Q1 2019 earnings at ($0.46) EPS, Q3 2019 earnings at $0.78 EPS, Q4 2019 earnings at $0.02 EPS and FY2019 earnings at $2.06 EPS.

A number of other analysts have also recently weighed in on the stock. SunTrust Banks lowered their price target on shares of SiteOne Landscape Supply to $79.00 and set a “buy” rating on the stock in a report on Monday. Deutsche Bank lowered their price target on shares of SiteOne Landscape Supply from $90.00 to $81.00 and set a “buy” rating on the stock in a report on Thursday, November 1st. Royal Bank of Canada set a $88.00 price target on shares of SiteOne Landscape Supply and gave the company a “buy” rating in a report on Thursday, November 1st. They noted that the move was a valuation call. Jefferies Financial Group began coverage on shares of SiteOne Landscape Supply in a report on Friday, October 12th. They issued a “buy” rating and a $80.00 price target on the stock. Finally, UBS Group upgraded shares of SiteOne Landscape Supply from a “sell” rating to a “neutral” rating and set a $75.00 price target on the stock in a report on Thursday, October 11th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $80.33.

NYSE:SITE opened at $66.69 on Monday. SiteOne Landscape Supply has a fifty-two week low of $58.70 and a fifty-two week high of $95.49. The stock has a market capitalization of $2.78 billion, a PE ratio of 55.12 and a beta of 1.52. The company has a current ratio of 2.72, a quick ratio of 1.29 and a debt-to-equity ratio of 1.90.

SiteOne Landscape Supply (NYSE:SITE) last released its quarterly earnings results on Wednesday, October 31st. The industrial products company reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.02). SiteOne Landscape Supply had a net margin of 3.90% and a return on equity of 31.11%. The firm had revenue of $578.50 million during the quarter, compared to the consensus estimate of $590.23 million. During the same quarter in the prior year, the business posted $0.41 earnings per share. The firm’s quarterly revenue was up 15.1% on a year-over-year basis.

In related news, VP Joseph Ketter sold 3,000 shares of the stock in a transaction that occurred on Thursday, August 9th. The shares were sold at an average price of $93.67, for a total value of $281,010.00. Following the completion of the transaction, the vice president now directly owns 8,396 shares of the company’s stock, valued at approximately $786,453.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Doug Black sold 12,000 shares of the stock in a transaction that occurred on Wednesday, August 22nd. The shares were sold at an average price of $90.01, for a total transaction of $1,080,120.00. Following the completion of the transaction, the chief executive officer now directly owns 398,228 shares of the company’s stock, valued at $35,844,502.28. The disclosure for this sale can be found here. Insiders sold a total of 91,700 shares of company stock valued at $7,591,235 over the last ninety days. 4.40% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in SITE. Janus Henderson Group PLC raised its position in SiteOne Landscape Supply by 4,105.4% during the 2nd quarter. Janus Henderson Group PLC now owns 108,961 shares of the industrial products company’s stock worth $9,149,000 after buying an additional 106,370 shares during the last quarter. Artisan Partners Limited Partnership raised its position in SiteOne Landscape Supply by 42.2% during the 2nd quarter. Artisan Partners Limited Partnership now owns 219,710 shares of the industrial products company’s stock worth $18,449,000 after buying an additional 65,150 shares during the last quarter. Sandhill Capital Partners LLC raised its position in SiteOne Landscape Supply by 1.5% during the 2nd quarter. Sandhill Capital Partners LLC now owns 362,744 shares of the industrial products company’s stock worth $30,460,000 after buying an additional 5,478 shares during the last quarter. BlackRock Inc. raised its position in SiteOne Landscape Supply by 29.0% during the 2nd quarter. BlackRock Inc. now owns 2,882,470 shares of the industrial products company’s stock worth $242,041,000 after buying an additional 648,424 shares during the last quarter. Finally, KAMES CAPITAL plc purchased a new position in SiteOne Landscape Supply during the 3rd quarter worth approximately $18,672,000.

SiteOne Landscape Supply Company Profile

SiteOne Landscape Supply, Inc, through its subsidiaries, engages in the wholesale distribution of landscape supplies in the United States and Canada. The company provides irrigation supplies; fertilizer and control products, such as herbicides; landscape accessories; nursery goods outdoor lighting; and ice melt products, as well as hardscapes, including pavers, natural stones, and blocks; turf protection products; grass seed; and turf care equipment and golf course maintenance supplies, as well as value-added consultative services to its customers.

Read More: Price to Earnings Ratio (PE)

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

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