Analysts Anticipate The Scotts Miracle-Gro Company (NYSE:SMG) Will Post Earnings of $3.44 Per Share

Wall Street brokerages expect The Scotts Miracle-Gro Company (NYSE:SMGGet Rating) to announce earnings of $3.44 per share for the current quarter, Zacks reports. Five analysts have made estimates for Scotts Miracle-Gro’s earnings. The highest EPS estimate is $3.76 and the lowest is $3.00. Scotts Miracle-Gro reported earnings of $3.98 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 13.6%. The business is scheduled to report its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Scotts Miracle-Gro will report full year earnings of $7.00 per share for the current year, with EPS estimates ranging from $6.50 to $7.88. For the next financial year, analysts forecast that the company will post earnings of $7.90 per share, with EPS estimates ranging from $7.15 to $9.00. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that cover Scotts Miracle-Gro.

Scotts Miracle-Gro (NYSE:SMGGet Rating) last announced its quarterly earnings data on Tuesday, May 3rd. The basic materials company reported $5.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.69 by $0.34. The company had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.68 billion. Scotts Miracle-Gro had a return on equity of 42.22% and a net margin of 8.81%. The firm’s revenue was down 8.2% compared to the same quarter last year. During the same period in the previous year, the business earned $5.64 EPS.

SMG has been the topic of a number of recent analyst reports. Wells Fargo & Company dropped their price objective on Scotts Miracle-Gro from $145.00 to $130.00 and set an “overweight” rating on the stock in a research note on Thursday, June 2nd. Raymond James dropped their price target on Scotts Miracle-Gro from $185.00 to $150.00 and set a “strong-buy” rating on the stock in a research note on Monday, March 14th. Zacks Investment Research raised Scotts Miracle-Gro from a “sell” rating to a “hold” rating and set a $123.00 price target on the stock in a research note on Tuesday, April 12th. StockNews.com downgraded Scotts Miracle-Gro from a “hold” rating to a “sell” rating in a research note on Saturday, May 21st. Finally, Truist Financial downgraded Scotts Miracle-Gro from a “buy” rating to a “hold” rating and dropped their price target for the stock from $185.00 to $85.00 in a research note on Wednesday. One analyst has rated the stock with a sell rating, four have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Scotts Miracle-Gro presently has a consensus rating of “Buy” and an average price target of $147.33.

Shares of NYSE:SMG opened at $93.13 on Thursday. The company has a market capitalization of $5.16 billion, a price-to-earnings ratio of 13.08 and a beta of 1.19. The company has a debt-to-equity ratio of 3.44, a current ratio of 2.21 and a quick ratio of 1.13. The business’s 50-day moving average is $104.60 and its 200-day moving average is $130.90. Scotts Miracle-Gro has a 1 year low of $87.11 and a 1 year high of $204.45.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 10th. Stockholders of record on Friday, May 27th will be paid a $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 2.83%. The ex-dividend date of this dividend is Thursday, May 26th. Scotts Miracle-Gro’s dividend payout ratio (DPR) is presently 37.08%.

In other news, Director Stephen L. Johnson sold 2,305 shares of the company’s stock in a transaction that occurred on Wednesday, May 4th. The stock was sold at an average price of $113.36, for a total value of $261,294.80. Following the completion of the transaction, the director now directly owns 20,233 shares of the company’s stock, valued at $2,293,612.88. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP James D. King sold 17,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 10th. The shares were sold at an average price of $98.42, for a total value of $1,722,350.00. Following the completion of the transaction, the executive vice president now directly owns 9,760 shares of the company’s stock, valued at $960,579.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 79,805 shares of company stock valued at $7,848,045. Company insiders own 27.31% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Ellevest Inc. grew its holdings in Scotts Miracle-Gro by 177.2% during the fourth quarter. Ellevest Inc. now owns 158 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 101 shares during the period. Confluence Wealth Services Inc. bought a new position in Scotts Miracle-Gro during the fourth quarter valued at $26,000. Whittier Trust Co. of Nevada Inc. grew its holdings in Scotts Miracle-Gro by 84.3% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 212 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 97 shares during the period. Canada Pension Plan Investment Board bought a new position in Scotts Miracle-Gro during the first quarter valued at $27,000. Finally, Tcwp LLC purchased a new stake in shares of Scotts Miracle-Gro during the first quarter worth $41,000. 62.23% of the stock is owned by institutional investors and hedge funds.

Scotts Miracle-Gro Company Profile (Get Rating)

The Scotts Miracle-Gro Company engages in the manufacture, marketing, and sale of products for lawn, garden care, and indoor and hydroponic gardening in the United States and internationally. The company operates through three segments: U.S. Consumer, Hawthorne, and Other. It provides lawn care products comprising lawn fertilizers, grass seed products, spreaders, other durable products, and outdoor cleaners, as well as lawn-related weed, pest, and disease control products; gardening and landscape products include water-soluble and continuous-release plant foods, potting mixes and garden soils, mulch and decorative groundcover products, plant-related pest and disease control products, organic garden products, and lives goods and seeding solutions.

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