Scotts Miracle-Gro Co (NYSE:SMG) – Equities researchers at SunTrust Banks increased their FY2018 earnings estimates for Scotts Miracle-Gro in a research report issued on Monday, according to Zacks Investment Research. SunTrust Banks analyst W. Chappell now expects that the basic materials company will earn $5.04 per share for the year, up from their previous estimate of $4.21. SunTrust Banks has a “Hold” rating and a $95.00 price target on the stock.
Scotts Miracle-Gro (NYSE:SMG) last released its quarterly earnings data on Tuesday, January 30th. The basic materials company reported ($1.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.16). The company had revenue of $221.50 million for the quarter, compared to analysts’ expectations of $237.21 million. Scotts Miracle-Gro had a return on equity of 38.33% and a net margin of 9.11%. The firm’s quarterly revenue was down 10.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.96) EPS.
SMG has been the topic of several other research reports. KeyCorp reaffirmed a “hold” rating on shares of Scotts Miracle-Gro in a report on Saturday, November 25th. Zacks Investment Research raised shares of Scotts Miracle-Gro from a “hold” rating to a “buy” rating and set a $103.00 price target on the stock in a report on Thursday. Bank of America upped their price target on shares of Scotts Miracle-Gro from $107.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, November 8th. Finally, JPMorgan Chase & Co. downgraded shares of Scotts Miracle-Gro from an “overweight” rating to a “neutral” rating and set a $99.00 price target on the stock. in a report on Wednesday, November 8th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $104.25.
Shares of Scotts Miracle-Gro (SMG) opened at $90.48 on Wednesday. Scotts Miracle-Gro has a fifty-two week low of $81.48 and a fifty-two week high of $110.12. The company has a market cap of $5,210.64, a PE ratio of 20.94, a P/E/G ratio of 1.96 and a beta of 0.20. The company has a current ratio of 2.09, a quick ratio of 0.87 and a debt-to-equity ratio of 3.34.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 9th. Investors of record on Friday, February 23rd will be paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 2.34%. The ex-dividend date of this dividend is Thursday, February 22nd. Scotts Miracle-Gro’s payout ratio is 49.07%.
In related news, EVP Ivan C. Smith sold 6,587 shares of the company’s stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $97.74, for a total transaction of $643,813.38. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 29.14% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in SMG. Schwab Charles Investment Management Inc. lifted its stake in shares of Scotts Miracle-Gro by 3.8% during the second quarter. Schwab Charles Investment Management Inc. now owns 264,139 shares of the basic materials company’s stock valued at $23,630,000 after buying an additional 9,567 shares during the period. Legal & General Group Plc lifted its stake in shares of Scotts Miracle-Gro by 14.9% during the second quarter. Legal & General Group Plc now owns 44,664 shares of the basic materials company’s stock valued at $3,995,000 after buying an additional 5,790 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Scotts Miracle-Gro by 7.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,664 shares of the basic materials company’s stock valued at $149,000 after buying an additional 116 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Scotts Miracle-Gro by 3.7% during the second quarter. Principal Financial Group Inc. now owns 189,359 shares of the basic materials company’s stock valued at $16,940,000 after buying an additional 6,743 shares during the period. Finally, Northwestern Mutual Investment Management Company LLC increased its position in Scotts Miracle-Gro by 2.5% during the second quarter. Northwestern Mutual Investment Management Company LLC now owns 7,822 shares of the basic materials company’s stock worth $547,000 after purchasing an additional 191 shares during the last quarter. 69.19% of the stock is currently owned by institutional investors and hedge funds.
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Scotts Miracle-Gro Company Profile
The Scotts Miracle-Gro Company (Scotts Miracle-Gro) is a manufacturer and marketer of branded consumer lawn and garden products. The Company’s segments include Global Consumer. In North America, its brands include Scotts and Turf Builder lawn and grass seed products; Miracle-Gro, Nature’s Care, Scotts, LiquaFeed and Osmocote gardening and landscape products; and Ortho, Roundup, Home Defense and Tomcat branded insect control, weed control and rodent control products.
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