Brokerages expect Scotts Miracle-Gro Co (NYSE:SMG) to announce $988.90 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Scotts Miracle-Gro’s earnings. The lowest sales estimate is $950.80 million and the highest is $1.02 billion. Scotts Miracle-Gro reported sales of $1.08 billion in the same quarter last year, which indicates a negative year-over-year growth rate of 8.4%. The business is expected to report its next earnings results on Tuesday, August 7th.
On average, analysts expect that Scotts Miracle-Gro will report full-year sales of $2.67 billion for the current financial year, with estimates ranging from $2.56 billion to $2.72 billion. For the next year, analysts forecast that the company will post sales of $2.92 billion per share, with estimates ranging from $2.64 billion to $3.03 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Scotts Miracle-Gro.
Scotts Miracle-Gro (NYSE:SMG) last issued its quarterly earnings data on Tuesday, May 1st. The basic materials company reported $2.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.31 by ($0.43). Scotts Miracle-Gro had a net margin of 9.15% and a return on equity of 40.86%. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the previous year, the firm earned $2.78 EPS. The company’s revenue was down 6.6% on a year-over-year basis.
A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. downgraded shares of Scotts Miracle-Gro from a “neutral” rating to an “underweight” rating and cut their price objective for the company from $95.00 to $85.00 in a research report on Friday, June 1st. ValuEngine raised shares of Scotts Miracle-Gro from a “sell” rating to a “hold” rating in a research report on Wednesday, May 16th. SunTrust Banks raised shares of Scotts Miracle-Gro from a “hold” rating to a “buy” rating and set a $95.00 target price for the company in a report on Tuesday, May 15th. They noted that the move was a valuation call. Bank of America downgraded shares of Scotts Miracle-Gro from a “buy” rating to an “underperform” rating and set a $110.00 target price for the company. in a report on Wednesday, May 2nd. Finally, Zacks Investment Research downgraded shares of Scotts Miracle-Gro from a “buy” rating to a “sell” rating in a report on Tuesday, April 17th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $98.25.
Shares of SMG stock traded down $0.04 during mid-day trading on Thursday, reaching $86.81. 738,253 shares of the company’s stock traded hands, compared to its average volume of 697,243. Scotts Miracle-Gro has a 12 month low of $76.60 and a 12 month high of $110.12. The company has a debt-to-equity ratio of 3.91, a current ratio of 1.81 and a quick ratio of 1.15. The company has a market cap of $4.82 billion, a price-to-earnings ratio of 22.03, a PEG ratio of 2.15 and a beta of 0.27.
The company also recently announced a quarterly dividend, which was paid on Friday, June 8th. Investors of record on Friday, May 25th were issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 2.44%. The ex-dividend date was Thursday, May 24th. Scotts Miracle-Gro’s dividend payout ratio is currently 53.81%.
In other Scotts Miracle-Gro news, Chairman James Hagedorn sold 18,877 shares of the business’s stock in a transaction on Friday, May 11th. The shares were sold at an average price of $81.28, for a total value of $1,534,322.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Brian D. Finn purchased 7,500 shares of the firm’s stock in a transaction on Friday, May 4th. The stock was bought at an average price of $79.95 per share, for a total transaction of $599,625.00. Following the purchase, the director now owns 21,874 shares in the company, valued at $1,748,826.30. The disclosure for this purchase can be found here. Insiders sold a total of 64,138 shares of company stock valued at $5,196,797 in the last ninety days. 29.14% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the business. SeaCrest Wealth Management LLC purchased a new stake in Scotts Miracle-Gro in the 4th quarter worth $172,000. Asset Management One Co. Ltd. purchased a new stake in Scotts Miracle-Gro in the 1st quarter worth $179,000. Carnick & Kubik Group LLC purchased a new stake in Scotts Miracle-Gro in the 4th quarter worth $209,000. Mackay Shields LLC purchased a new stake in Scotts Miracle-Gro in the 1st quarter worth $210,000. Finally, South State Corp purchased a new stake in Scotts Miracle-Gro in the 1st quarter worth $212,000. Institutional investors and hedge funds own 66.26% of the company’s stock.
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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