Zacks: Brokerages Expect SiteOne Landscape Supply Inc (NYSE:SITE) to Announce $0.74 Earnings Per Share

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Wall Street brokerages expect that SiteOne Landscape Supply Inc (NYSE:SITE) will announce $0.74 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for SiteOne Landscape Supply’s earnings. The lowest EPS estimate is $0.68 and the highest is $0.80. SiteOne Landscape Supply posted earnings per share of $0.70 during the same quarter last year, which would indicate a positive year over year growth rate of 5.7%. The company is scheduled to announce its next earnings report on Wednesday, October 30th.

According to Zacks, analysts expect that SiteOne Landscape Supply will report full year earnings of $1.62 per share for the current year, with EPS estimates ranging from $1.55 to $1.75. For the next financial year, analysts anticipate that the business will report earnings of $2.13 per share, with EPS estimates ranging from $1.92 to $2.40. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research analysts that follow SiteOne Landscape Supply.

SiteOne Landscape Supply (NYSE:SITE) last issued its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $1.52 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.62 by ($0.10). SiteOne Landscape Supply had a net margin of 3.08% and a return on equity of 22.24%. The business had revenue of $752.40 million during the quarter, compared to the consensus estimate of $774.03 million. During the same quarter in the previous year, the firm posted $1.48 EPS. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year.

Several equities research analysts have recently commented on SITE shares. UBS Group set a $58.00 target price on SiteOne Landscape Supply and gave the company a “hold” rating in a research note on Friday, May 3rd. ValuEngine raised SiteOne Landscape Supply from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Zacks Investment Research cut SiteOne Landscape Supply from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. TheStreet raised SiteOne Landscape Supply from a “c-” rating to a “b-” rating in a research note on Thursday, June 13th. Finally, Royal Bank of Canada lifted their target price on SiteOne Landscape Supply to $68.00 and gave the company a “sector perform” rating in a research note on Thursday, August 1st. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $76.90.

In related news, EVP Ross Anker sold 60,346 shares of SiteOne Landscape Supply stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $66.64, for a total transaction of $4,021,457.44. Following the completion of the sale, the executive vice president now directly owns 55,602 shares of the company’s stock, valued at $3,705,317.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP L Briley Brisendine, Jr. sold 20,000 shares of SiteOne Landscape Supply stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $70.35, for a total value of $1,407,000.00. Following the sale, the executive vice president now directly owns 38,336 shares of the company’s stock, valued at $2,696,937.60. The disclosure for this sale can be found here. Insiders sold a total of 98,420 shares of company stock valued at $6,736,075 over the last three months. Insiders own 4.10% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. American Century Companies Inc. increased its position in SiteOne Landscape Supply by 52.4% during the fourth quarter. American Century Companies Inc. now owns 173,126 shares of the industrial products company’s stock worth $9,569,000 after buying an additional 59,529 shares during the last quarter. Janney Montgomery Scott LLC raised its position in shares of SiteOne Landscape Supply by 12.8% in the first quarter. Janney Montgomery Scott LLC now owns 42,045 shares of the industrial products company’s stock valued at $2,403,000 after buying an additional 4,757 shares during the last quarter. Redmond Asset Management LLC raised its position in shares of SiteOne Landscape Supply by 53.0% in the first quarter. Redmond Asset Management LLC now owns 24,742 shares of the industrial products company’s stock valued at $1,414,000 after buying an additional 8,567 shares during the last quarter. JPMorgan Chase & Co. increased its position in SiteOne Landscape Supply by 11.2% during the first quarter. JPMorgan Chase & Co. now owns 620,640 shares of the industrial products company’s stock worth $35,470,000 after purchasing an additional 62,571 shares during the last quarter. Finally, Wasatch Advisors Inc. increased its position in SiteOne Landscape Supply by 0.6% during the first quarter. Wasatch Advisors Inc. now owns 1,350,923 shares of the industrial products company’s stock worth $77,205,000 after purchasing an additional 7,656 shares during the last quarter.

Shares of NYSE SITE traded up $0.78 during midday trading on Thursday, hitting $73.49. The stock had a trading volume of 314,300 shares, compared to its average volume of 416,901. The stock has a 50-day simple moving average of $70.79. The stock has a market cap of $3.14 billion, a price-to-earnings ratio of 42.48 and a beta of 1.07. SiteOne Landscape Supply has a fifty-two week low of $45.32 and a fifty-two week high of $93.68. The company has a debt-to-equity ratio of 2.33, a quick ratio of 1.13 and a current ratio of 2.50.

About SiteOne Landscape Supply

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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