$474.59 Million in Sales Expected for SiteOne Landscape Supply Inc (SITE) This Quarter

Analysts expect that SiteOne Landscape Supply Inc (NYSE:SITE) will report sales of $474.59 million for the current fiscal quarter, Zacks reports. Four analysts have made estimates for SiteOne Landscape Supply’s earnings. The highest sales estimate is $478.96 million and the lowest is $470.40 million. SiteOne Landscape Supply reported sales of $415.70 million during the same quarter last year, which indicates a positive year-over-year growth rate of 14.2%. The firm is scheduled to announce its next earnings report on Tuesday, February 19th.

On average, analysts expect that SiteOne Landscape Supply will report full year sales of $2.11 billion for the current fiscal year, with estimates ranging from $2.11 billion to $2.12 billion. For the next fiscal year, analysts anticipate that the business will post sales of $2.36 billion, with estimates ranging from $2.29 billion to $2.43 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover SiteOne Landscape Supply.

SiteOne Landscape Supply (NYSE:SITE) last posted 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 company had revenue of $578.50 million during the quarter, compared to analyst estimates of $590.23 million. During the same quarter in the previous year, the business posted $0.41 earnings per share. The company’s revenue for the quarter was up 15.1% on a year-over-year basis.

SITE has been the topic of a number of research analyst reports. SunTrust Banks reduced their price target on shares of SiteOne Landscape Supply to $79.00 and set a “buy” rating on the stock in a research note on Monday, November 5th. Deutsche Bank reduced 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 research note 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 research note on Thursday, November 1st. They noted that the move was a valuation call. Jefferies Financial Group initiated coverage on shares of SiteOne Landscape Supply in a research note on Friday, October 12th. They issued a “buy” rating and a $80.00 price target on the stock. Finally, Goldman Sachs Group initiated coverage on shares of SiteOne Landscape Supply in a research note on Tuesday, October 2nd. They issued a “buy” rating and a $111.00 price target on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. SiteOne Landscape Supply currently has an average rating of “Hold” and a consensus price target of $78.78.

In related news, CEO Doug Black sold 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 21st. The shares were sold at an average price of $58.12, for a total value of $697,440.00. Following the completion of the transaction, the chief executive officer now owns 398,228 shares in the company, valued at approximately $23,145,011.36. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP L Briley Brisendine, Jr. sold 2,700 shares of the firm’s stock in a transaction that occurred on Saturday, December 28th. The shares were sold at an average price of $55.62, for a total transaction of $150,174.00. Following the completion of the transaction, the executive vice president now owns 20,408 shares of the company’s stock, valued at approximately $1,135,092.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 48,950 shares of company stock valued at $2,807,777. 4.40% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Seven Eight Capital LP bought a new position in SiteOne Landscape Supply during the 3rd quarter worth approximately $1,145,000. Capital World Investors bought a new position in SiteOne Landscape Supply during the 3rd quarter worth approximately $53,228,000. Granite Investment Partners LLC raised its holdings in SiteOne Landscape Supply by 4.1% during the 3rd quarter. Granite Investment Partners LLC now owns 201,727 shares of the industrial products company’s stock worth $15,198,000 after purchasing an additional 7,892 shares during the last quarter. Loomis Sayles & Co. L P raised its holdings in SiteOne Landscape Supply by 1.7% during the 3rd quarter. Loomis Sayles & Co. L P now owns 540,698 shares of the industrial products company’s stock worth $40,736,000 after purchasing an additional 9,290 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board raised its holdings in SiteOne Landscape Supply by 16.9% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 1,950,000 shares of the industrial products company’s stock worth $146,913,000 after purchasing an additional 281,521 shares during the last quarter.

SITE opened at $53.05 on Wednesday. SiteOne Landscape Supply has a 1-year low of $50.03 and a 1-year high of $95.49. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.29 and a current ratio of 2.72. The company has a market capitalization of $2.39 billion, a PE ratio of 43.84 and a beta of 1.41.

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: How does a reverse stock split work?

Get a free copy of the Zacks research report on SiteOne Landscape Supply (SITE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for SiteOne Landscape Supply Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SiteOne Landscape Supply and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply