Bear of the Day: Central Garden & Pet (CENT)
by Zacks Equity ResearchDecember 19, 2012 | Comments : 0 Recommended this article: (0)
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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.
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