$594.55 Million in Sales Expected for SiteOne Landscape Supply Inc (SITE) This Quarter
Equities analysts forecast that SiteOne Landscape Supply Inc (NYSE:SITE) will report sales of $594.55 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for SiteOne Landscape Supply’s earnings. The lowest sales estimate is $590.10 million and the highest is $599.00 million. SiteOne Landscape Supply reported sales of $502.40 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 18.3%. The company is scheduled to announce its next earnings report on Wednesday, November 14th.
On average, analysts expect that SiteOne Landscape Supply will report full-year sales of $2.13 billion for the current year, with estimates ranging from $2.09 billion to $2.15 billion. For the next year, analysts forecast that the company will report sales of $2.37 billion per share, with estimates ranging from $2.22 billion to $2.46 billion. Zacks’ sales averages are an average based on a survey of analysts that follow SiteOne Landscape Supply.
SiteOne Landscape Supply (NYSE:SITE) last issued its quarterly earnings data on Wednesday, August 1st. The industrial products company reported $1.48 earnings per share for the quarter, missing the consensus estimate of $1.55 by ($0.07). The business had revenue of $687.80 million for the quarter, compared to the consensus estimate of $689.21 million. SiteOne Landscape Supply had a net margin of 3.39% and a return on equity of 28.71%. SiteOne Landscape Supply’s revenue was up 13.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.07 EPS.
In related news, CEO Doug Black sold 12,000 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now owns 398,228 shares of the company’s stock, valued at $35,844,502.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO John T. Guthrie sold 10,000 shares of the business’s stock in a transaction on Tuesday, August 21st. The stock was sold at an average price of $89.90, for a total transaction of $899,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 188,575 shares of company stock worth $16,988,924. Insiders own 4.40% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Artisan Partners Limited Partnership increased its position in SiteOne Landscape Supply by 42.2% during the second quarter. Artisan Partners Limited Partnership now owns 219,710 shares of the industrial products company’s stock worth $18,449,000 after acquiring an additional 65,150 shares during the period. Sandhill Capital Partners LLC increased its position in SiteOne Landscape Supply by 1.5% during the second quarter. Sandhill Capital Partners LLC now owns 362,744 shares of the industrial products company’s stock worth $30,460,000 after acquiring an additional 5,478 shares during the period. State Board of Administration of Florida Retirement System increased its position in SiteOne Landscape Supply by 4.4% during the second quarter. State Board of Administration of Florida Retirement System now owns 17,191 shares of the industrial products company’s stock worth $1,444,000 after acquiring an additional 730 shares during the period. Comerica Bank increased its position in SiteOne Landscape Supply by 29.2% during the first quarter. Comerica Bank now owns 18,610 shares of the industrial products company’s stock worth $1,441,000 after acquiring an additional 4,206 shares during the period. Finally, Gilder Gagnon Howe & Co. LLC increased its position in SiteOne Landscape Supply by 5.5% during the second quarter. Gilder Gagnon Howe & Co. LLC now owns 389,817 shares of the industrial products company’s stock worth $32,733,000 after acquiring an additional 20,306 shares during the period.
Shares of NYSE:SITE traded down $2.96 during trading on Monday, reaching $87.91. The stock had a trading volume of 325,200 shares, compared to its average volume of 331,825. SiteOne Landscape Supply has a 52 week low of $52.92 and a 52 week high of $95.49. The firm has a market cap of $3.73 billion, a price-to-earnings ratio of 73.32 and a beta of 1.29. The company has a quick ratio of 1.23, a current ratio of 2.69 and a debt-to-equity ratio of 2.15.
About SiteOne Landscape Supply
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.
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