SiteOne Landscape Supply, Inc. (NYSE:SITE) Forecasted to Earn Q3 2024 Earnings of $1.52 Per Share

SiteOne Landscape Supply, Inc. (NYSE:SITE) – Equities researchers at William Blair raised their Q3 2024 earnings estimates for shares of SiteOne Landscape Supply in a report issued on Wednesday, May 1st. William Blair analyst R. Merkel now forecasts that the industrial products company will post earnings per share of $1.52 for the quarter, up from their previous forecast of $1.48. The consensus estimate for SiteOne Landscape Supply’s current full-year earnings is $3.94 per share. William Blair also issued estimates for SiteOne Landscape Supply’s Q4 2024 earnings at $0.10 EPS, FY2024 earnings at $4.17 EPS and FY2025 earnings at $4.99 EPS.

SiteOne Landscape Supply (NYSE:SITE) last posted its earnings results on Wednesday, May 1st. The industrial products company reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.22). SiteOne Landscape Supply had a net margin of 3.63% and a return on equity of 10.77%. The business had revenue of $904.80 million during the quarter, compared to the consensus estimate of $864.01 million. During the same period in the previous year, the firm earned ($0.10) EPS. The business’s revenue was up 8.1% compared to the same quarter last year.

A number of other research firms have also recently commented on SITE. Barclays dropped their target price on shares of SiteOne Landscape Supply from $145.00 to $133.00 and set an “underweight” rating for the company in a report on Thursday. Loop Capital cut shares of SiteOne Landscape Supply from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Stifel Nicolaus raised SiteOne Landscape Supply from a “hold” rating to a “buy” rating and cut their target price for the stock from $167.00 to $165.00 in a report on Thursday. Royal Bank of Canada increased their price objective on shares of SiteOne Landscape Supply from $150.00 to $157.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 15th. Finally, Truist Financial cut their price target on SiteOne Landscape Supply from $204.00 to $175.00 and set a “buy” rating on the stock in a report on Thursday. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, SiteOne Landscape Supply currently has an average rating of “Hold” and a consensus price target of $167.50.

SiteOne Landscape Supply Trading Up 1.4 %

Shares of NYSE:SITE opened at $152.42 on Friday. The firm has a market cap of $6.89 billion, a price-to-earnings ratio of 44.18 and a beta of 1.53. SiteOne Landscape Supply has a 12 month low of $116.81 and a 12 month high of $188.01. The company’s fifty day simple moving average is $169.37 and its 200 day simple moving average is $156.72. The company has a quick ratio of 1.10, a current ratio of 2.36 and a debt-to-equity ratio of 0.35.

Insider Activity

In other news, CFO John T. Guthrie sold 3,000 shares of the business’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $180.00, for a total transaction of $540,000.00. Following the completion of the sale, the chief financial officer now directly owns 15,467 shares of the company’s stock, valued at $2,784,060. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO John T. Guthrie sold 3,000 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $180.00, for a total value of $540,000.00. Following the completion of the sale, the chief financial officer now directly owns 15,467 shares of the company’s stock, valued at $2,784,060. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Doug Black sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $162.10, for a total transaction of $1,621,000.00. Following the transaction, the chief executive officer now directly owns 574,657 shares in the company, valued at approximately $93,151,899.70. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,000 shares of company stock valued at $3,924,500. 2.70% of the stock is currently owned by insiders.

Institutional Trading of SiteOne Landscape Supply

Large investors have recently made changes to their positions in the business. Northern Trust Corp boosted its holdings in shares of SiteOne Landscape Supply by 1.5% during the 3rd quarter. Northern Trust Corp now owns 221,336 shares of the industrial products company’s stock worth $36,177,000 after purchasing an additional 3,301 shares during the last quarter. WCM Investment Management LLC lifted its stake in SiteOne Landscape Supply by 33.4% in the fourth quarter. WCM Investment Management LLC now owns 33,429 shares of the industrial products company’s stock worth $5,483,000 after acquiring an additional 8,379 shares during the last quarter. Handelsbanken Fonder AB increased its holdings in SiteOne Landscape Supply by 10.8% in the fourth quarter. Handelsbanken Fonder AB now owns 229,237 shares of the industrial products company’s stock valued at $37,251,000 after buying an additional 22,400 shares during the last quarter. Hsbc Holdings PLC acquired a new stake in shares of SiteOne Landscape Supply during the 3rd quarter worth about $1,826,000. Finally, Trexquant Investment LP purchased a new stake in shares of SiteOne Landscape Supply during the 3rd quarter worth approximately $4,060,000.

SiteOne Landscape Supply Company Profile

SiteOne Landscape Supply, Inc, together with its subsidiaries, engages in the wholesale distribution of landscape supplies in the United States and Canada. The company provides irrigation products, including controllers, valves, sprinkler heads, irrigation pipes, micro irrigation, and drip products; fertilizer, grass seed, and ice melt products; control products, such as herbicides, fungicides, rodenticides, and other pesticides; landscape accessories that include mulches, soil amendments, drainage pipes, tools, and sods; nursery goods, which consist of deciduous and evergreen shrubs, ornamental, shade, evergreen trees, field grown and container-grown nursery stock, roses, perennials, annuals, bulbs, and plant species and cultivars; hardscapes, such as pavers, natural stones, blocks, and other durable materials; and outdoor lighting products that include lighting fixtures, LED lamps, wires, transformers, and accessories.