Analysts expect that Scotts Miracle-Gro Co (NYSE:SMG) will announce sales of $442.64 million for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Scotts Miracle-Gro’s earnings, with estimates ranging from $409.90 million to $461.10 million. Scotts Miracle-Gro posted sales of $376.70 million in the same quarter last year, which suggests a positive year-over-year growth rate of 17.5%. The company is scheduled to issue its next earnings results on Tuesday, November 6th.
On average, analysts expect that Scotts Miracle-Gro will report full-year sales of $2.67 billion for the current fiscal year, with estimates ranging from $2.64 billion to $2.69 billion. For the next financial year, analysts forecast that the company will report sales of $2.97 billion per share, with estimates ranging from $2.92 billion to $3.00 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Scotts Miracle-Gro.
Scotts Miracle-Gro (NYSE:SMG) last posted its earnings results on Tuesday, July 31st. The basic materials company reported $2.67 EPS for the quarter, beating analysts’ consensus estimates of $2.55 by $0.12. The firm had revenue of $994.60 million during the quarter, compared to the consensus estimate of $996.40 million. Scotts Miracle-Gro had a return on equity of 43.37% and a net margin of 6.80%. During the same period in the prior year, the company earned $2.57 EPS.
SMG has been the topic of several recent research reports. JPMorgan Chase & Co. lowered Scotts Miracle-Gro from a “neutral” rating to an “underweight” rating and decreased their price target for the company from $95.00 to $85.00 in a report on Friday, June 1st. Raymond James lowered Scotts Miracle-Gro from a “market perform” rating to an “underperform” rating in a report on Wednesday, June 20th. ValuEngine lowered Scotts Miracle-Gro from a “hold” rating to a “sell” rating in a report on Tuesday, July 24th. Bank of America decreased their price target on Scotts Miracle-Gro from $80.00 to $77.00 and set a “sell” rating on the stock in a report on Tuesday, July 17th. Finally, SunTrust Banks upgraded Scotts Miracle-Gro from a “hold” rating to a “buy” rating and set a $95.00 price target on the stock in a report on Tuesday, May 15th. They noted that the move was a valuation call. Five research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the company’s stock. Scotts Miracle-Gro presently has a consensus rating of “Sell” and a consensus target price of $85.50.
In other Scotts Miracle-Gro news, CEO James Hagedorn sold 86,686 shares of the stock in a transaction on Tuesday, June 19th. The stock was sold at an average price of $83.69, for a total value of $7,254,751.34. Following the sale, the chief executive officer now owns 145,852 shares in the company, valued at $12,206,353.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Katherine Littlefield Hagedorn sold 14,947 shares of the stock in a transaction on Monday, June 18th. The stock was sold at an average price of $86.04, for a total value of $1,286,039.88. Following the completion of the sale, the director now owns 6,511 shares in the company, valued at approximately $560,206.44. The disclosure for this sale can be found here. Insiders have sold a total of 203,358 shares of company stock worth $16,588,400 in the last 90 days. 29.14% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the business. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in Scotts Miracle-Gro in the second quarter worth $112,000. Asset Management One Co. Ltd. purchased a new stake in Scotts Miracle-Gro in the first quarter worth $179,000. Mackay Shields LLC purchased a new stake in Scotts Miracle-Gro in the first quarter worth $210,000. Atria Investments LLC purchased a new stake in Scotts Miracle-Gro in the second quarter worth $211,000. Finally, South State Corp purchased a new stake in Scotts Miracle-Gro in the first quarter worth $212,000. Institutional investors and hedge funds own 65.39% of the company’s stock.
Shares of NYSE SMG traded down $0.43 during midday trading on Friday, reaching $76.31. 429,900 shares of the stock traded hands, compared to its average volume of 660,195. Scotts Miracle-Gro has a one year low of $72.67 and a one year high of $110.12. The company has a market capitalization of $4.20 billion, a P/E ratio of 19.34, a P/E/G ratio of 5.35 and a beta of 0.24. The company has a debt-to-equity ratio of 3.72, a quick ratio of 0.99 and a current ratio of 1.60.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 10th. Investors of record on Monday, August 27th will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 2.88%. The ex-dividend date is Friday, August 24th. This is a positive change from Scotts Miracle-Gro’s previous quarterly dividend of $0.53. Scotts Miracle-Gro’s dividend payout ratio is presently 55.84%.
Scotts Miracle-Gro Company Profile
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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