Scotts Miracle-Gro Co (NYSE:SMG) – Research analysts at SunTrust Banks boosted their FY2018 earnings per share (EPS) estimates for shares of Scotts Miracle-Gro in a research note issued to investors on Monday, according to Zacks Investment Research. SunTrust Banks analyst W. Chappell now expects that the basic materials company will post earnings of $5.04 per share for the year, up from their prior forecast of $4.21. SunTrust Banks has a “Hold” rating and a $95.00 price target on the stock.
Scotts Miracle-Gro (NYSE:SMG) last announced its quarterly earnings data on Tuesday, November 7th. The basic materials company reported ($0.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.04. The company had revenue of $376.70 million for the quarter, compared to analysts’ expectations of $368.50 million. Scotts Miracle-Gro had a net margin of 7.51% and a return on equity of 37.81%. Scotts Miracle-Gro’s revenue was up 8.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.30) EPS.
Several other equities analysts have also recently issued reports on SMG. Zacks Investment Research cut shares of Scotts Miracle-Gro from a “hold” rating to a “sell” rating in a research note on Wednesday, October 4th. KeyCorp reissued a “hold” rating on shares of Scotts Miracle-Gro in a research note on Monday, October 16th. JPMorgan Chase & Co. cut 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 research note on Wednesday, November 8th. Finally, Bank of America upped their price target on shares of Scotts Miracle-Gro from $107.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, November 8th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $106.25.
Shares of Scotts Miracle-Gro (SMG) traded down $2.02 on Wednesday, reaching $105.99. 449,200 shares of the company’s stock traded hands, compared to its average volume of 566,450. The company has a quick ratio of 0.87, a current ratio of 1.62 and a debt-to-equity ratio of 1.90. The firm has a market cap of $6,090.00, a PE ratio of 32.61, a P/E/G ratio of 2.49 and a beta of 0.36. Scotts Miracle-Gro has a 12 month low of $81.48 and a 12 month high of $110.12.
In other news, EVP Ivan C. Smith sold 6,587 shares of the company’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $97.74, for a total transaction of $643,813.38. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 29.14% of the company’s stock.
Large investors have recently bought and sold shares of the company. Bank of Montreal Can lifted its holdings in shares of Scotts Miracle-Gro by 160.0% during the 4th quarter. Bank of Montreal Can now owns 24,976 shares of the basic materials company’s stock worth $2,672,000 after acquiring an additional 15,369 shares during the period. Wealthsource Partners LLC lifted its holdings in shares of Scotts Miracle-Gro by 45.0% during the 3rd quarter. Wealthsource Partners LLC now owns 4,221 shares of the basic materials company’s stock worth $411,000 after acquiring an additional 1,310 shares during the period. Cetera Advisors LLC lifted its holdings in shares of Scotts Miracle-Gro by 598.7% during the 3rd quarter. Cetera Advisors LLC now owns 19,466 shares of the basic materials company’s stock worth $1,890,000 after acquiring an additional 16,680 shares during the period. TT International lifted its holdings in shares of Scotts Miracle-Gro by 29.6% during the 3rd quarter. TT International now owns 84,587 shares of the basic materials company’s stock worth $8,233,000 after acquiring an additional 19,324 shares during the period. Finally, RWC Asset Management LLP lifted its holdings in shares of Scotts Miracle-Gro by 22.4% during the 3rd quarter. RWC Asset Management LLP now owns 257,677 shares of the basic materials company’s stock worth $25,082,000 after acquiring an additional 47,232 shares during the period. 69.18% of the stock is currently owned by institutional investors and hedge funds.
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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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