Scotts Miracle-Gro Co (NYSE:SMG) announced a quarterly dividend on Wednesday, November 7th, RTT News reports. Shareholders of record on Monday, November 26th will be paid a dividend of 0.55 per share by the basic materials company on Monday, December 10th. This represents a $2.20 dividend on an annualized basis and a yield of 2.90%.
Scotts Miracle-Gro has increased its dividend payment by an average of 5.1% annually over the last three years and has raised its dividend every year for the last 8 years. Scotts Miracle-Gro has a payout ratio of 58.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Scotts Miracle-Gro to earn $4.27 per share next year, which means the company should continue to be able to cover its $2.20 annual dividend with an expected future payout ratio of 51.5%.
SMG stock traded up $4.87 during midday trading on Wednesday, reaching $75.77. 1,580,436 shares of the company’s stock traded hands, compared to its average volume of 636,651. The company has a debt-to-equity ratio of 3.72, a current ratio of 1.60 and a quick ratio of 0.99. Scotts Miracle-Gro has a 52 week low of $65.20 and a 52 week high of $110.12. The stock has a market capitalization of $3.92 billion, a price-to-earnings ratio of 19.23, a PEG ratio of 3.76 and a beta of 0.42.
Scotts Miracle-Gro (NYSE:SMG) last issued its earnings results on Wednesday, November 7th. The basic materials company reported ($0.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.08). Scotts Miracle-Gro had a net margin of 6.80% and a return on equity of 43.37%. The business had revenue of $434.00 million for the quarter, compared to the consensus estimate of $441.10 million. During the same period in the previous year, the firm earned ($0.26) EPS. The company’s revenue was up 15.1% compared to the same quarter last year. Equities research analysts anticipate that Scotts Miracle-Gro will post 3.77 EPS for the current year.
In other news, Director Nancy G. Mistretta sold 6,300 shares of the company’s stock in a transaction on Friday, September 14th. The shares were sold at an average price of $76.93, for a total value of $484,659.00. Following the transaction, the director now owns 20,824 shares of the company’s stock, valued at $1,601,990.32. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 29.14% of the company’s stock.
SMG has been the topic of several research analyst reports. Bank of America decreased their price target on shares of Scotts Miracle-Gro from $80.00 to $77.00 and set a “sell” rating on the stock in a report on Tuesday, July 17th. ValuEngine cut shares of Scotts Miracle-Gro from a “hold” rating to a “sell” rating in a report on Tuesday, July 24th. JPMorgan Chase & Co. decreased their price target on shares of Scotts Miracle-Gro from $85.00 to $70.00 and set an “underweight” rating on the stock in a report on Friday, August 24th. Finally, Zacks Investment Research raised shares of Scotts Miracle-Gro from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 18th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price 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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