SiteOne Landscape Supply, Inc. to Post Q3 2024 Earnings of $1.52 Per Share, William Blair Forecasts (NYSE:SITE)

SiteOne Landscape Supply, Inc. (NYSE:SITE - Free Report) - Stock analysts at William Blair increased their Q3 2024 earnings estimates for SiteOne Landscape Supply in a research note issued to investors on Wednesday, May 1st. William Blair analyst R. Merkel now anticipates that the industrial products company will post earnings of $1.52 per share for the quarter, up from their prior estimate of $1.48. The consensus estimate for SiteOne Landscape Supply's current full-year earnings is $4.00 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 - Get Free Report) last issued its quarterly earnings data on Wednesday, May 1st. The industrial products company reported ($0.43) EPS for the quarter, missing analysts' consensus estimates of ($0.21) by ($0.22). The business had revenue of $904.80 million during the quarter, compared to analyst estimates of $864.01 million. SiteOne Landscape Supply had a net margin of 3.63% and a return on equity of 10.77%. SiteOne Landscape Supply's revenue was up 8.1% on a year-over-year basis. During the same period in the previous year, the company posted ($0.10) earnings per share.

Other equities research analysts have also issued research reports about the company. Royal Bank of Canada upped their target price on SiteOne Landscape Supply from $150.00 to $157.00 and gave the company a "sector perform" rating in a research note on Thursday, February 15th. Truist Financial dropped their price objective on SiteOne Landscape Supply from $204.00 to $175.00 and set a "buy" rating for the company in a research report on Thursday. Barclays cut 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 research note on Thursday. Stifel Nicolaus raised shares of SiteOne Landscape Supply from a "hold" rating to a "buy" rating and decreased their price target for the stock from $167.00 to $165.00 in a research note on Thursday. Finally, Loop Capital lowered shares of SiteOne Landscape Supply from a "buy" rating to a "hold" rating in a research report on Monday, January 8th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, SiteOne Landscape Supply has a consensus rating of "Hold" and an average price target of $167.50.

SiteOne Landscape Supply Price Performance

Shares of SITE stock traded up $2.06 during trading hours on Friday, hitting $152.42. The company's stock had a trading volume of 481,172 shares, compared to its average volume of 319,552. The company has a current ratio of 2.43, a quick ratio of 1.10 and a debt-to-equity ratio of 0.29. The business has a fifty day moving average of $169.37 and a 200-day moving average of $156.71. SiteOne Landscape Supply has a twelve month low of $116.81 and a twelve month high of $188.01. The stock has a market cap of $6.89 billion, a price-to-earnings ratio of 44.18 and a beta of 1.53.

Insider Buying and Selling at SiteOne Landscape Supply

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

Hedge Funds Weigh In On SiteOne Landscape Supply

Several hedge funds and other institutional investors have recently bought and sold shares of SITE. Venturi Wealth Management LLC acquired a new position in SiteOne Landscape Supply in the 3rd quarter worth $26,000. Operose Advisors LLC purchased a new stake in shares of SiteOne Landscape Supply during the third quarter worth about $28,000. Principal Securities Inc. acquired a new position in shares of SiteOne Landscape Supply in the fourth quarter worth about $31,000. GAMMA Investing LLC purchased a new position in SiteOne Landscape Supply in the fourth quarter valued at about $38,000. Finally, Benjamin F. Edwards & Company Inc. grew its stake in SiteOne Landscape Supply by 588.1% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 289 shares of the industrial products company's stock valued at $50,000 after purchasing an additional 247 shares in the last quarter.

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.