Scotts Miracle-Gro (NYSE:SMG) released its quarterly earnings results on Wednesday. The basic materials company reported ($0.75) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.67) by ($0.08), MarketWatch Earnings reports. Scotts Miracle-Gro had a net margin of 6.80% and a return on equity of 43.37%. The firm had revenue of $434.00 million for the quarter, compared to analysts’ expectations of $441.10 million. During the same quarter in the previous year, the business earned ($0.26) EPS. The company’s revenue for the quarter was up 15.1% on a year-over-year basis. Scotts Miracle-Gro updated its FY19 guidance to $4.10-4.30 EPS.
NYSE SMG traded up $4.71 during trading hours on Wednesday, reaching $75.61. 124,224 shares of the stock traded hands, compared to its average volume of 491,027. Scotts Miracle-Gro has a 1 year low of $65.20 and a 1 year high of $110.12. The company has a quick ratio of 0.99, a current ratio of 1.60 and a debt-to-equity ratio of 3.72. The company has a market capitalization of $3.92 billion, a price-to-earnings ratio of 19.16, a PEG ratio of 3.76 and a beta of 0.42.
In other Scotts Miracle-Gro news, Director Nancy G. Mistretta sold 6,300 shares of the firm’s stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $76.93, for a total transaction of $484,659.00. Following the sale, the director now owns 20,824 shares in the company, valued at $1,601,990.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 29.14% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new position in shares of Scotts Miracle-Gro in the second quarter worth about $112,000. Stratos Wealth Partners LTD. purchased a new position in shares of Scotts Miracle-Gro in the third quarter worth about $145,000. Atria Investments LLC purchased a new position in shares of Scotts Miracle-Gro in the second quarter worth about $211,000. Outfitter Advisors LTD. purchased a new position in shares of Scotts Miracle-Gro in the second quarter worth about $223,000. Finally, Stephens Inc. AR purchased a new position in shares of Scotts Miracle-Gro in the second quarter worth about $256,000. Hedge funds and other institutional investors own 65.21% of the company’s stock.
SMG has been the topic of a number of research reports. Bank of America lowered their price target on Scotts Miracle-Gro from $80.00 to $77.00 and set a “sell” rating on the stock in a research report on Tuesday, July 17th. ValuEngine downgraded Scotts Miracle-Gro from a “hold” rating to a “sell” rating in a research report on Tuesday, July 24th. JPMorgan Chase & Co. lowered their price target on Scotts Miracle-Gro from $85.00 to $70.00 and set an “underweight” rating on the stock in a research report on Friday, August 24th. Finally, Zacks Investment Research upgraded Scotts Miracle-Gro from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 18th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. Scotts Miracle-Gro presently has an average rating of “Hold” and an average price target of $85.00.
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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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