Bear of the Day: Central Garden & Pet (CENT) - Bear of the Day
December 18 2012 - 6:00PM
Zacks
Central Garden & Pet's (CENT) dismal fourth-quarter 2012
results compelled us to adopt a bearish stance on the stock. The
company posted a quarterly loss of $0.21 per share that remained
flat with the prior-year quarter loss but was wider than the Zacks
Consensus Estimate of a loss of $0.20. The company hinted that
increased promotional and innovation expenses and lower revenues
from the decor business negatively impacted the results.
Central Garden has missed the Zacks Consensus Estimate by an
average of 8.5% in the trailing four quarters. For fiscal 2013 and
2014, the Zacks Consensus Estimates dropped by 6 cents and 12 cents
to $0.80 and $1.01 per share in the last 7 days, respectively.
Management now anticipates that sales and earnings for the first
quarter of fiscal 2013 will be lower than the comparable prior-year
period due to the adverse impact of Hurricane Sandy that to a great
extent adversely impacted the Pet segment. Consequently, we
downgrade our recommendation to Underperform.
CENTRAL GARDEN (CENT): Free Stock Analysis Report
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