SiteOne Landscape Supply, Inc. (NYSE:SITE) to Post Q1 2024 Earnings of ($0.25) Per Share, William Blair Forecasts

SiteOne Landscape Supply, Inc. (NYSE:SITE – Free Report) – Investment analysts at William Blair boosted their Q1 2024 earnings estimates for SiteOne Landscape Supply in a research note issued on Wednesday, April 10th. William Blair analyst R. Merkel now forecasts that the industrial products company will post earnings per share of ($0.25) for the quarter, up from their prior estimate of ($0.30). The consensus estimate for SiteOne Landscape Supply’s current full-year earnings is $4.17 per share. William Blair also issued estimates for SiteOne Landscape Supply’s Q2 2024 earnings at $2.91 EPS, Q3 2024 earnings at $1.48 EPS, Q4 2024 earnings at $0.03 EPS, FY2024 earnings at $4.18 EPS and FY2025 earnings at $5.11 EPS.

SiteOne Landscape Supply (NYSE:SITE – Get Free Report) last issued its quarterly earnings results on Wednesday, February 14th. The industrial products company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.07. The business had revenue of $965.00 million during the quarter, compared to the consensus estimate of $942.21 million. SiteOne Landscape Supply had a net margin of 4.03% and a return on equity of 12.13%. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.02) earnings per share.

A number of other equities research analysts also recently commented on SITE. Barclays lifted their price target on shares of SiteOne Landscape Supply from $121.00 to $145.00 and gave the stock an “underweight” rating in a report on Thursday, February 15th. Truist Financial boosted their target price on shares of SiteOne Landscape Supply from $170.00 to $204.00 and gave the company a “buy” rating in a report on Thursday, February 15th. Royal Bank of Canada boosted their target price on shares of SiteOne Landscape Supply from $150.00 to $157.00 and gave the company a “sector perform” rating in a report on Thursday, February 15th. Loop Capital downgraded shares of SiteOne Landscape Supply from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Finally, Robert W. Baird boosted their target price on shares of SiteOne Landscape Supply from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday, February 15th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $172.88.

Read Our Latest Stock Analysis on SITE

SiteOne Landscape Supply Stock Performance

Shares of NYSE SITE opened at $169.36 on Friday. The company has a market cap of $7.65 billion, a PE ratio of 44.76 and a beta of 1.54. SiteOne Landscape Supply has a 12 month low of $116.81 and a 12 month high of $188.01. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.43 and a quick ratio of 1.10. The company has a 50-day simple moving average of $170.13 and a 200-day simple moving average of $156.71.

Insider Transactions at SiteOne Landscape Supply

In related news, CFO John T. Guthrie sold 3,000 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $180.00, for a total value of $540,000.00. Following the transaction, the chief financial officer now owns 15,467 shares in the company, valued at $2,784,060. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Doug Black sold 10,000 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $176.35, for a total value of $1,763,500.00. Following the sale, the chief executive officer now owns 574,657 shares in the company, valued at $101,340,761.95. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO John T. Guthrie sold 3,000 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was 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 owns 15,467 shares in the company, valued at approximately $2,784,060. The disclosure for this sale can be found here. Insiders sold 23,000 shares of company stock valued at $3,836,400 over the last three months. 2.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Venturi Wealth Management LLC acquired a new stake in SiteOne Landscape Supply in the third quarter worth about $26,000. Operose Advisors LLC acquired a new stake in SiteOne Landscape Supply in the third quarter worth about $28,000. Impact Partnership Wealth LLC acquired a new stake in SiteOne Landscape Supply in the third quarter worth about $30,000. Principal Securities Inc. acquired a new stake in SiteOne Landscape Supply in the fourth quarter worth about $31,000. Finally, Benjamin Edwards Inc. increased its position in SiteOne Landscape Supply by 81.7% in the second quarter. Benjamin Edwards Inc. now owns 218 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 98 shares during the period.

SiteOne Landscape Supply Company Profile

(Get Free Report)

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.

Further Reading

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