FY2018 Earnings Estimate for SiteOne Landscape Supply Inc Issued By William Blair (SITE)

SiteOne Landscape Supply Inc (NYSE:SITE) – Stock analysts at William Blair dropped their FY2018 earnings per share estimates for shares of SiteOne Landscape Supply in a research note issued on Wednesday, October 31st. William Blair analyst R. Merkel now forecasts that the industrial products company will post earnings of $2.03 per share for the year, down from their previous estimate of $2.05. William Blair also issued estimates for SiteOne Landscape Supply’s Q2 2019 earnings at $1.73 EPS and FY2020 earnings at $2.71 EPS.

SiteOne Landscape Supply (NYSE:SITE) last posted its earnings results on Wednesday, October 31st. The industrial products company reported $0.70 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.72 by ($0.02). SiteOne Landscape Supply had a return on equity of 28.71% and a net margin of 3.39%. The company had revenue of $578.50 million during the quarter, compared to analyst estimates of $590.23 million. During the same quarter last year, the firm posted $0.41 earnings per share. The firm’s revenue for the quarter was up 15.1% compared to the same quarter last year.

Several other equities research analysts have also weighed in on SITE. Zacks Investment Research upgraded SiteOne Landscape Supply from a “hold” rating to a “buy” rating and set a $96.00 target price for the company in a report on Wednesday, July 18th. Barclays upped their price target on SiteOne Landscape Supply from $67.00 to $75.00 and gave the stock a “hold” rating in a report on Wednesday, August 1st. Royal Bank of Canada set a $105.00 price target on SiteOne Landscape Supply and gave the stock a “buy” rating in a report on Thursday, August 2nd. TheStreet upgraded SiteOne Landscape Supply from a “c” rating to a “b-” rating in a report on Thursday, August 9th. Finally, Jefferies Financial Group started coverage on SiteOne Landscape Supply in a report on Friday, October 12th. They set a “buy” rating and a $80.00 price target for the company. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. SiteOne Landscape Supply has an average rating of “Buy” and an average target price of $81.44.

SITE opened at $68.01 on Friday. SiteOne Landscape Supply has a twelve month low of $58.70 and a twelve month high of $95.49. The company has a debt-to-equity ratio of 2.15, a current ratio of 2.69 and a quick ratio of 1.23. The company has a market capitalization of $2.55 billion, a P/E ratio of 56.21 and a beta of 1.44.

In other news, CFO John T. Guthrie sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $92.09, for a total transaction of $920,900.00. Following the sale, the chief financial officer now directly owns 28,186 shares in the company, valued at $2,595,648.74. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Doug Black sold 12,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 17th. The shares were sold at an average price of $72.00, for a total value of $864,000.00. Following the sale, the chief executive officer now owns 398,228 shares in the company, valued at $28,672,416. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 166,925 shares of company stock valued at $14,431,956. Corporate insiders own 4.40% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System increased its position in shares of 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 valued at $1,444,000 after purchasing an additional 730 shares during the period. McCollum Christoferson Group LLC increased its position in shares of SiteOne Landscape Supply by 1.5% during the third quarter. McCollum Christoferson Group LLC now owns 51,456 shares of the industrial products company’s stock valued at $3,877,000 after purchasing an additional 778 shares during the period. Tocqueville Asset Management L.P. increased its position in shares of SiteOne Landscape Supply by 3.7% during the second quarter. Tocqueville Asset Management L.P. now owns 22,305 shares of the industrial products company’s stock valued at $1,873,000 after purchasing an additional 800 shares during the period. Comerica Bank increased its position in shares of SiteOne Landscape Supply by 4.9% during the third quarter. Comerica Bank now owns 17,379 shares of the industrial products company’s stock valued at $1,183,000 after purchasing an additional 808 shares during the period. Finally, Cambridge Investment Research Advisors Inc. increased its position in shares of SiteOne Landscape Supply by 7.5% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 14,580 shares of the industrial products company’s stock valued at $1,098,000 after purchasing an additional 1,014 shares during the period.

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.

Further Reading: Cost of Debt

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

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