Scotts Miracle-Gro (NYSE:SMG) declared a quarterly dividend on Monday, April 30th, RTT News reports. Investors of record on Friday, May 25th will be paid a dividend of 0.53 per share by the basic materials company on Friday, June 8th. This represents a $2.12 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date of this dividend is Thursday, May 24th.
Scotts Miracle-Gro has increased its dividend by an average of 5.1% annually over the last three years and has raised its dividend annually for the last 8 consecutive years. Scotts Miracle-Gro has a dividend payout ratio of 48.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Scotts Miracle-Gro to earn $4.79 per share next year, which means the company should continue to be able to cover its $2.12 annual dividend with an expected future payout ratio of 44.3%.
Shares of Scotts Miracle-Gro opened at $87.08 on Wednesday, MarketBeat reports. The firm has a market capitalization of $4.84 billion, a P/E ratio of 22.10, a PEG ratio of 2.08 and a beta of 0.27. The company has a quick ratio of 1.15, a current ratio of 1.81 and a debt-to-equity ratio of 3.91. Scotts Miracle-Gro has a 1 year low of $76.60 and a 1 year high of $110.12.
Scotts Miracle-Gro (NYSE:SMG) last issued its earnings results on Tuesday, May 1st. The basic materials company reported $2.88 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.31 by ($0.43). The firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Scotts Miracle-Gro had a return on equity of 40.86% and a net margin of 9.15%. The business’s revenue was down 6.6% on a year-over-year basis. During the same quarter last year, the business earned $2.78 EPS. analysts forecast that Scotts Miracle-Gro will post 4.11 EPS for the current fiscal year.
In related news, Director Brian D. Finn purchased 7,500 shares of the business’s stock in a transaction on Friday, May 4th. The shares were bought at an average cost of $79.95 per share, with a total value of $599,625.00. Following the transaction, the director now owns 21,874 shares of the company’s stock, valued at $1,748,826.30. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman James Hagedorn sold 18,877 shares of the stock in a transaction dated Friday, May 11th. The stock was sold at an average price of $81.28, for a total value of $1,534,322.56. The disclosure for this sale can be found here. Insiders have sold a total of 64,138 shares of company stock worth $5,196,797 over the last ninety days. 29.14% of the stock is owned by insiders.
A number of equities analysts recently issued reports on the company. Zacks Investment Research upgraded Scotts Miracle-Gro from a “hold” rating to a “buy” rating and set a $103.00 target price for the company in a research note on Thursday, February 1st. ValuEngine lowered Scotts Miracle-Gro from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. SunTrust Banks upgraded Scotts Miracle-Gro from a “hold” rating to a “buy” rating and set a $95.00 target price for the company in a research note on Tuesday, May 15th. They noted that the move was a valuation call. Finally, Bank of America lowered Scotts Miracle-Gro from a “buy” rating to an “underperform” rating and set a $110.00 target price for the company. in a research note on Wednesday, May 2nd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. Scotts Miracle-Gro currently has an average rating of “Hold” and an average price target of $101.75.
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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