Wall Street analysts expect that Scotts Miracle-Gro Co (NYSE:SMG) will report ($0.61) earnings per share (EPS) for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Scotts Miracle-Gro’s earnings, with the lowest EPS estimate coming in at ($0.74) and the highest estimate coming in at ($0.42). Scotts Miracle-Gro posted earnings per share of ($0.26) in the same quarter last year, which indicates a negative year over year growth rate of 134.6%. The company is expected to issue its next quarterly earnings results on Tuesday, November 6th.
On average, analysts expect that Scotts Miracle-Gro will report full-year earnings of $3.80 per share for the current year, with EPS estimates ranging from $3.71 to $3.90. For the next fiscal year, analysts anticipate that the company will post earnings of $4.33 per share, with EPS estimates ranging from $4.00 to $4.65. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that cover Scotts Miracle-Gro.
Scotts Miracle-Gro (NYSE:SMG) last posted its quarterly earnings results on Tuesday, July 31st. The basic materials company reported $2.67 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.55 by $0.12. The business had revenue of $994.60 million during the quarter, compared to analyst estimates of $996.40 million. Scotts Miracle-Gro had a net margin of 6.80% and a return on equity of 43.37%. During the same period in the prior year, the business posted $2.57 earnings per share.
A number of equities analysts have weighed in on SMG shares. Bank of America lowered shares of Scotts Miracle-Gro from a “buy” rating to an “underperform” rating and set a $110.00 price target for the company. in a research report on Wednesday, May 2nd. JPMorgan Chase & Co. lowered shares of Scotts Miracle-Gro from a “neutral” rating to an “underweight” rating and dropped their price target for the stock from $95.00 to $85.00 in a research report on Friday, June 1st. Raymond James lowered shares of Scotts Miracle-Gro from a “market perform” rating to an “underperform” rating in a research report on Wednesday, June 20th. ValuEngine lowered shares of Scotts Miracle-Gro from a “hold” rating to a “sell” rating in a research report on Tuesday, July 24th. Finally, SunTrust Banks upgraded shares of Scotts Miracle-Gro from a “hold” rating to a “buy” rating and set a $95.00 price target for the company in a research report on Tuesday, May 15th. They noted that the move was a valuation call. Five analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the stock. Scotts Miracle-Gro currently has a consensus rating of “Sell” and a consensus price target of $89.25.
In other news, Director Katherine Littlefield Hagedorn sold 14,947 shares of the business’s stock in a transaction on Monday, June 18th. The shares were sold at an average price of $86.04, for a total value of $1,286,039.88. Following the transaction, the director now owns 6,511 shares of the company’s stock, valued at $560,206.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Hagedorn Partnership, L.P. sold 16,603 shares of the business’s stock in a transaction on Monday, June 18th. The stock was sold at an average price of $86.04, for a total transaction of $1,428,522.12. Following the completion of the transaction, the insider now directly owns 15,673,272 shares in the company, valued at approximately $1,348,528,322.88. The disclosure for this sale can be found here. Insiders sold 203,358 shares of company stock worth $16,588,400 in the last three months. Insiders own 29.14% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. raised its stake in Scotts Miracle-Gro by 2.7% during the first quarter. Oppenheimer Asset Management Inc. now owns 23,892 shares of the basic materials company’s stock valued at $2,049,000 after purchasing an additional 635 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Scotts Miracle-Gro by 0.4% in the first quarter. Principal Financial Group Inc. now owns 175,336 shares of the basic materials company’s stock valued at $15,035,000 after acquiring an additional 640 shares during the period. Thrivent Financial for Lutherans raised its stake in shares of Scotts Miracle-Gro by 0.4% in the first quarter. Thrivent Financial for Lutherans now owns 154,404 shares of the basic materials company’s stock valued at $13,240,000 after acquiring an additional 665 shares during the period. HL Financial Services LLC raised its stake in shares of Scotts Miracle-Gro by 7.6% in the second quarter. HL Financial Services LLC now owns 9,445 shares of the basic materials company’s stock valued at $785,000 after acquiring an additional 670 shares during the period. Finally, Curbstone Financial Management Corp raised its stake in shares of Scotts Miracle-Gro by 9.6% in the second quarter. Curbstone Financial Management Corp now owns 7,780 shares of the basic materials company’s stock valued at $647,000 after acquiring an additional 680 shares during the period. 66.45% of the stock is currently owned by hedge funds and other institutional investors.
Shares of SMG traded up $0.41 during mid-day trading on Tuesday, reaching $75.51. The stock had a trading volume of 474,325 shares, compared to its average volume of 669,368. The firm has a market cap of $4.18 billion, a P/E ratio of 19.16, a PEG ratio of 2.91 and a beta of 0.23. Scotts Miracle-Gro has a 12 month low of $72.67 and a 12 month high of $110.12. The company has a debt-to-equity ratio of 3.72, a current ratio of 1.60 and a quick ratio of 0.99.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 10th. Stockholders of record on Monday, August 27th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 2.91%. The ex-dividend date of this dividend is Friday, August 24th. This is an increase from Scotts Miracle-Gro’s previous quarterly dividend of $0.53. Scotts Miracle-Gro’s payout ratio is 53.81%.
About Scotts Miracle-Gro
The Scotts Miracle-Gro Company manufactures, markets, and sells consumer lawn and garden products. The company operates through three segments: U.S. Consumer, Hawthorne, and Other. It offers lawn care products, including lawn fertilizers, grass seed products, spreaders, other durable products, and outdoor cleaners, as well as lawn-related weed, pest, and disease control products.
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