The Scotts Miracle-Gro Company (NYSE:SMG) Expected to Post Earnings of $3.44 Per Share

Analysts forecast that The Scotts Miracle-Gro Company (NYSE:SMGGet Rating) will post 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 per share of $3.98 during the same quarter last year, which suggests a negative year over year growth rate of 13.6%. The business is scheduled to report its next earnings report on Monday, January 1st.

On average, 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 fiscal year, analysts anticipate that the business will report earnings of $7.90 per share, with EPS estimates ranging from $7.15 to $9.00. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that cover Scotts Miracle-Gro.

Scotts Miracle-Gro (NYSE:SMGGet Rating) last announced its earnings results on Tuesday, May 3rd. The basic materials company reported $5.03 earnings per share for the quarter, topping the consensus estimate of $4.69 by $0.34. The business had revenue of $1.68 billion during 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 business’s quarterly revenue was down 8.2% on a year-over-year basis. During the same period in the prior year, the company posted $5.64 EPS.

Several research analysts have recently weighed in on SMG shares. Wells Fargo & Company reduced their target price on Scotts Miracle-Gro from $145.00 to $130.00 and set an “overweight” rating for the company in a research note on Thursday, June 2nd. Raymond James reduced their price objective on Scotts Miracle-Gro from $185.00 to $150.00 and set a “strong-buy” rating for the company in a research note on Monday, March 14th. JPMorgan Chase & Co. raised Scotts Miracle-Gro from a “neutral” rating to an “overweight” rating and reduced their price objective for the company from $150.00 to $130.00 in a research note on Wednesday, May 4th. They noted that the move was a valuation call. Truist Financial downgraded Scotts Miracle-Gro from a “buy” rating to a “hold” rating and reduced their price objective for the company from $185.00 to $85.00 in a research note on Wednesday. Finally, Barclays downgraded Scotts Miracle-Gro from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $150.00 to $110.00 in a research note on Thursday, April 21st. One analyst has rated the stock with a sell rating, four have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $147.33.

In other news, Director Stephen L. Johnson sold 2,305 shares of the stock in a transaction on Wednesday, May 4th. The stock was sold at an average price of $113.36, for a total transaction of $261,294.80. Following the completion of the transaction, the director now directly owns 20,233 shares in the company, valued at approximately $2,293,612.88. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP James D. King sold 17,500 shares of the stock in a transaction on Tuesday, May 10th. The stock was sold at an average price of $98.42, for a total value of $1,722,350.00. Following the transaction, the executive vice president now 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 90 days, insiders sold 79,805 shares of company stock valued at $7,848,045. 27.31% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ellevest Inc. grew its holdings in shares of Scotts Miracle-Gro by 177.2% during the 4th quarter. Ellevest Inc. now owns 158 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 101 shares during the period. Confluence Wealth Services Inc. purchased a new position in Scotts Miracle-Gro during the 4th quarter valued at about $26,000. Whittier Trust Co. of Nevada Inc. boosted its holdings in Scotts Miracle-Gro by 84.3% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 212 shares of the basic materials company’s stock valued at $26,000 after acquiring an additional 97 shares during the period. Canada Pension Plan Investment Board purchased a new position in Scotts Miracle-Gro during the 1st quarter valued at about $27,000. Finally, Tcwp LLC purchased a new position in Scotts Miracle-Gro during the 1st quarter valued at about $41,000. Institutional investors and hedge funds own 62.23% of the company’s stock.

Shares of SMG stock opened at $93.13 on Thursday. 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 company has a market cap of $5.16 billion, a price-to-earnings ratio of 13.08 and a beta of 1.19. The stock has a 50 day simple moving average of $104.60 and a 200-day simple moving average of $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 announced a quarterly dividend, which will be paid on Friday, June 10th. Shareholders of record on Friday, May 27th will be issued a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 2.83%. The ex-dividend date of this dividend is Thursday, May 26th. Scotts Miracle-Gro’s payout ratio is currently 37.08%.

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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