Equities research analysts predict that Scotts Miracle-Gro Co (NYSE:SMG) will announce sales of $1.12 billion for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Scotts Miracle-Gro’s earnings, with estimates ranging from $1.10 billion to $1.13 billion. Scotts Miracle-Gro reported sales of $1.20 billion in the same quarter last year, which would suggest a negative year-over-year growth rate of 6.7%. The company is scheduled to report its next earnings report on Tuesday, May 1st.
According to Zacks, analysts expect that Scotts Miracle-Gro will report full-year sales of $1.12 billion for the current fiscal year, with estimates ranging from $2.69 billion to $2.76 billion. For the next financial year, analysts expect that the company will post sales of $2.81 billion per share, with estimates ranging from $2.77 billion to $2.84 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Scotts Miracle-Gro.
Scotts Miracle-Gro (NYSE:SMG) last posted its quarterly earnings results on Tuesday, January 30th. The basic materials company reported ($1.08) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.92) by ($0.16). Scotts Miracle-Gro had a net margin of 9.11% and a return on equity of 38.33%. The firm had revenue of $221.50 million for the quarter, compared to analysts’ expectations of $237.21 million. During the same period last year, the firm posted ($0.96) EPS. Scotts Miracle-Gro’s revenue was down 10.3% on a year-over-year basis.
A number of equities research analysts have issued reports on the company. Zacks Investment Research raised Scotts Miracle-Gro from a “hold” rating to a “buy” rating and set a $103.00 price target for the company in a research report on Thursday, February 1st. Bank of America set a $120.00 target price on Scotts Miracle-Gro and gave the stock a “buy” rating in a research report on Tuesday, January 30th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $104.25.
In other news, Director Katherine Littlefield Hagedorn sold 2,892 shares of the company’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $89.50, for a total value of $258,834.00. Following the completion of the sale, the director now owns 9,043 shares of the company’s stock, valued at $809,348.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 29.14% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of SMG. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Scotts Miracle-Gro by 24.0% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 7,856 shares of the basic materials company’s stock worth $765,000 after acquiring an additional 1,519 shares in the last quarter. New York State Common Retirement Fund lifted its stake in shares of Scotts Miracle-Gro by 1.1% in the third quarter. New York State Common Retirement Fund now owns 336,954 shares of the basic materials company’s stock worth $32,799,000 after acquiring an additional 3,700 shares in the last quarter. Legal & General Group Plc lifted its stake in shares of Scotts Miracle-Gro by 10.7% in the third quarter. Legal & General Group Plc now owns 49,446 shares of the basic materials company’s stock worth $4,813,000 after acquiring an additional 4,782 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Scotts Miracle-Gro by 160.5% in the third quarter. JPMorgan Chase & Co. now owns 109,797 shares of the basic materials company’s stock worth $10,690,000 after acquiring an additional 67,644 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its stake in shares of Scotts Miracle-Gro by 1.9% in the third quarter. Wells Fargo & Company MN now owns 259,642 shares of the basic materials company’s stock worth $25,274,000 after acquiring an additional 4,966 shares in the last quarter. 66.63% of the stock is owned by institutional investors.
SMG stock traded up $0.64 during trading on Friday, reaching $84.80. 399,940 shares of the stock traded hands, compared to its average volume of 659,801. Scotts Miracle-Gro has a 52-week low of $81.48 and a 52-week high of $110.12. The company has a current ratio of 2.09, a quick ratio of 0.61 and a debt-to-equity ratio of 3.34. The company has a market cap of $4,741.24, a PE ratio of 21.52, a price-to-earnings-growth ratio of 1.59 and a beta of 0.27.
The business also recently announced a quarterly dividend, which was paid on Friday, March 9th. Stockholders of record on Friday, February 23rd were given a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 2.50%. The ex-dividend date was Thursday, February 22nd. Scotts Miracle-Gro’s payout ratio is 53.81%.
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About Scotts Miracle-Gro
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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