Zacks Research Ups Q3 2024 EPS Forecast for Central Garden & Pet (NASDAQ:CENT)

Zacks Research, a prominent financial analysis firm, has revised its earnings predictions for Central Garden & Pet, a leading company in the lawn and garden, and pet supplies market.

Earnings Estimate Revision

On Wednesday, February 21st, analysts at Zacks Research provided an updated report to investors, highlighting an increase in the estimated earnings per share (EPS) for Central Garden & Pet for the third quarter of 2024. The analyst S. Singh from Zacks anticipates the company to achieve an EPS of $1.63, marking a substantial rise from the earlier estimate of $1.39.

The revised prediction exceeds the consensus estimate for Central Garden & Pet's full-year earnings, set at $2.09 per share. In addition to the third-quarter adjustments, Zacks Research also provided estimates for subsequent fiscal periods, projecting Q4 2024 EPS at $0.04, full-year 2024 EPS at $2.60, and full-year 2025 earnings at $2.83, among other forecasts.

Market Analysts' Perspectives

Several brokerage firms have also recently published reports on Central Garden & Pet. For instance, Truist Financial upgraded their price target from $50 to $60 and maintained a "buy" rating. Conversely, TheStreet adjusted its rating for the company from a "b" to a "c+" following their assessment.

Company Stock Performance

Central Garden & Pet’s stock opened at $43.13 on the reporting Friday. The historical performance shows a 50-day simple moving average of $37.42 and a 200-day average of $31.38. The financial health of the company is reflected in various ratios, such as a quick ratio of 1.55 and a debt-to-equity ratio of 0.82. With a market capitalization of $2.90 billion and a PE ratio of 21.39, the company also possesses a beta of 0.66, indicating its stock's volatility compared to the market. The 52-week trading window outlines a low of $28.48 and a high of $44.45.

Recent Insider Transactions

In related developments, insider trading activity at Central Garden & Pet saw CAO Howard Machek selling 5,000 shares and Director John Ranelli selling 2,400 shares on separate occasions in February. Details of these transactions and others are accessible in filings with the Securities & Exchange Commission.

Institutional Investor Activity

Varying institutional investors have recently altered their stakes in Central Garden & Pet. Noteworthy changes include positions by Captrust Financial Advisors, Advisor Group Holdings Inc., Banque Cantonale Vaudoise, Bank of Montreal Can, and UBS Group AG through purchases and increased shareholdings.

About Central Garden & Pet

This corporation stands as a significant player in the supply of products across the lawn, garden, and pet industries. With operations segmented into the Pet and Garden divisions, Central Garden & Pet provides a wide array of goods ranging from pet toys and treatments to aquatic supplies and outdoor decors.

Zacks, CENT, Earnings