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CENT

Central Garden & Pet

$30.46

-0.6 (-1.93%)

16:06
11/27/18
11/27
16:06
11/27/18
16:06

Central Garden & Pet sees FY19 EPS of $1.80 'or higher', consensus $1.96

The company expects overall revenue growth in the mid-single digits for fiscal 2019 with organic revenue growth consistent with its long-term annual target of 2% to 3%. In addition, EBITDA, which the company defines as operating income plus depreciation and amortization, is expected to grow in the mid-single-digits, with organic EBITDA growth in the upper-single digits. The company also expects earnings per fully-diluted share of $1.80 or higher for fiscal 2019, a decrease from fiscal 2018 GAAP and non-GAAP earnings. There are a number of factors that the company expects will negatively impact the comparability of fiscal 2019 EPS with fiscal 2018 EPS, with the greatest impact in the company's first half of the fiscal year. The first factor is the timing of the company's recent Bell Nursery acquisition. The company previously estimated that its fiscal 2018 earnings were approximately $0.10 higher in fiscal 2018 than if it had Bell Nursery in its results for the full fiscal year. Fiscal 2019 will have a full year of Bell Nursery, including two quarters of losses that were prior to the acquisition in fiscal 2018 and not present in fiscal 2018 results. The second factor expected to negatively impact EPS is the higher projected tax rate for fiscal 2019 compared with fiscal 2018. The impact of these two items is expected to negatively impact fiscal 2019 EPS by approximately 25c when compared with fiscal 2018.

  • 27

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CENT Central Garden & Pet
$30.46

-0.6 (-1.93%)

09/25/18
09/25/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Wendy's (WEN) initiated with a Buy at BTIG. 2. BJ's Wholesale (BJ) initiated with a Buy at Northcoast. 3. Central Garden & Pet (CENT) initiated with a Neutral at JPMorgan. 4. International Seaways (INSW) initiated with a Buy at Stifel. 5. Welltower (WELL) initiated with an Overweight at Barclays. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
09/25/18
JPMS
09/25/18
INITIATION
Target $37
JPMS
Neutral
Central Garden & Pet initiated with a Neutral at JPMorgan
JPMorgan analyst Christina Brathwaite started Central Garden & Pet with a Neutral rating and $37 price target. The analyst believes the company's sales growth is coming at a cost and sees little valuation upside from current levels.
09/10/18
09/10/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. NMI Holdings (NMIH) initiated with an Overweight at Barclays. 2. Aridis Pharmaceuticals (ARDS) initiated with an Outperform at Northland, an Overweight at Cantor Fitzgerald, and a Buy at Laidlaw. 3. Central Garden & Pet (CENT) initiated with a Buy at BofA/Merrill. 4. GDS Holdings (GDS) initiated with an Outperform at Cowen. 5. Overstock.com (OSTK) assumed with a Buy at Maxim. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
09/10/18
BOFA
09/10/18
INITIATION
Target $44
BOFA
Buy
Central Garden & Pet initiated with a Buy at BofA/Merrill
BofA/Merrill analyst Christopher Carey initiated Central Garden & Pet with a Buy and $44 price target saying it is an unique growth story driven by a investment in organic sales, potential M&A catalysts following the $185M equity offering, and low net leverage providing capacity for deals.

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