Wall Street brokerages expect Scotts Miracle-Gro Co (NYSE:SMG) to report sales of $1.12 billion for the current quarter, according to Zacks. 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 posted sales of $1.20 billion in the same quarter last year, which would indicate a negative year-over-year growth rate of 6.7%. The firm is scheduled to issue its next quarterly 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 year, with estimates ranging from $2.69 billion to $2.76 billion. For the next year, analysts forecast that the firm will report 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 a mean average based on a survey of research firms that that provide coverage for Scotts Miracle-Gro.
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). Scotts Miracle-Gro had a net margin of 9.11% and a return on equity of 38.33%. The business had revenue of $221.50 million during the quarter, compared to analysts’ expectations of $237.21 million. During the same quarter in the previous year, the company posted ($0.96) EPS. The company’s revenue was down 10.3% compared to the same quarter last year.
SMG has been the topic of a number of recent analyst reports. Bank of America increased their price objective on Scotts Miracle-Gro from $107.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, November 8th. Zacks Investment Research upgraded Scotts Miracle-Gro from a “hold” rating to a “buy” rating and set a $103.00 price objective on the stock in a report on Thursday, February 1st. KeyCorp reiterated a “hold” rating on shares of Scotts Miracle-Gro in a report on Saturday, November 25th. SunTrust Banks reiterated a “hold” rating and issued a $95.00 price objective on shares of Scotts Miracle-Gro in a report on Friday, November 10th. Finally, JPMorgan Chase & Co. downgraded Scotts Miracle-Gro from an “overweight” rating to a “neutral” rating and set a $99.00 price objective on the stock. in a report on Wednesday, November 8th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Scotts Miracle-Gro currently has a consensus rating of “Hold” and a consensus price target of $104.25.
Scotts Miracle-Gro (NYSE:SMG) traded down $0.79 on Friday, hitting $91.03. The stock had a trading volume of 330,800 shares, compared to its average volume of 821,498. Scotts Miracle-Gro has a fifty-two week low of $81.48 and a fifty-two week high of $110.12. The stock has a market cap of $5,180.00, a P/E ratio of 22.87, a P/E/G ratio of 1.75 and a beta of 0.20. 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 also recently declared 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. The ex-dividend date of this dividend is Thursday, February 22nd. This represents a $2.12 dividend on an annualized basis and a yield of 2.33%. Scotts Miracle-Gro’s dividend payout ratio is presently 53.27%.
In related news, Director Katherine Littlefield Hagedorn sold 2,892 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $89.50, for a total transaction of $258,834.00. Following the transaction, the director now owns 9,043 shares in the company, valued at approximately $809,348.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 29.14% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Steward Partners Investment Advisory LLC grew its stake in Scotts Miracle-Gro by 2,291.7% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,148 shares of the basic materials company’s stock worth $122,000 after buying an additional 1,100 shares during the last quarter. SeaCrest Wealth Management LLC purchased a new position in Scotts Miracle-Gro during the 4th quarter worth approximately $172,000. Charter Trust Co. purchased a new position in Scotts Miracle-Gro during the 4th quarter worth approximately $203,000. Carnick & Kubik Group LLC purchased a new position in Scotts Miracle-Gro during the 4th quarter worth approximately $209,000. Finally, Narwhal Capital Management purchased a new position in Scotts Miracle-Gro during the 4th quarter worth approximately $214,000. Hedge funds and other institutional investors own 64.87% of the company’s stock.
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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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