Scotts Miracle-Gro (SMG) to Release Earnings on Wednesday

Scotts Miracle-Gro (NYSE:SMGGet Rating) will release its earnings data before the market opens on Wednesday, February 1st. Analysts expect Scotts Miracle-Gro to post earnings of ($1.36) per share for the quarter. Persons that are interested in participating in the company’s earnings conference call can do so using this link.

Scotts Miracle-Gro (NYSE:SMGGet Rating) last announced its earnings results on Wednesday, November 2nd. The basic materials company reported ($2.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.02) by ($0.02). The company had revenue of $493.60 million for the quarter, compared to analysts’ expectations of $527.42 million. Scotts Miracle-Gro had a negative net margin of 11.15% and a positive return on equity of 38.78%. On average, analysts expect Scotts Miracle-Gro to post $4 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Scotts Miracle-Gro Stock Down 2.8 %

Shares of NYSE:SMG opened at $62.34 on Wednesday. The stock has a market cap of $3.46 billion, a price-to-earnings ratio of -7.85 and a beta of 1.49. The company has a quick ratio of 0.66, a current ratio of 2.06 and a debt-to-equity ratio of 19.13. Scotts Miracle-Gro has a 12-month low of $39.06 and a 12-month high of $156.00. The business’s 50 day moving average is $54.27 and its 200 day moving average is $59.84.

Scotts Miracle-Gro Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 9th. Investors of record on Monday, November 28th were issued a dividend of $0.66 per share. The ex-dividend date was Friday, November 25th. This represents a $2.64 dividend on an annualized basis and a yield of 4.23%. Scotts Miracle-Gro’s dividend payout ratio (DPR) is currently -33.25%.

Insider Buying and Selling at Scotts Miracle-Gro

In other news, Director Peter E. Shumlin sold 750 shares of Scotts Miracle-Gro stock in a transaction on Friday, November 18th. The stock was sold at an average price of $56.94, for a total value of $42,705.00. Following the completion of the transaction, the director now directly owns 11,385 shares in the company, valued at $648,261.90. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CFO David C. Evans sold 1,659 shares of Scotts Miracle-Gro stock in a transaction on Tuesday, November 29th. The stock was sold at an average price of $53.69, for a total value of $89,071.71. Following the completion of the transaction, the chief financial officer now directly owns 23,694 shares in the company, valued at $1,272,130.86. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Peter E. Shumlin sold 750 shares of Scotts Miracle-Gro stock in a transaction on Friday, November 18th. The shares were sold at an average price of $56.94, for a total value of $42,705.00. Following the completion of the transaction, the director now owns 11,385 shares of the company’s stock, valued at $648,261.90. The disclosure for this sale can be found here. Insiders have sold a total of 195,842 shares of company stock worth $11,174,189 over the last ninety days. 27.28% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Scotts Miracle-Gro

Several hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in Scotts Miracle-Gro by 1.0% during the third quarter. Vanguard Group Inc. now owns 4,249,815 shares of the basic materials company’s stock worth $181,680,000 after buying an additional 44,071 shares in the last quarter. BlackRock Inc. grew its position in Scotts Miracle-Gro by 1.9% during the third quarter. BlackRock Inc. now owns 3,575,124 shares of the basic materials company’s stock worth $152,837,000 after buying an additional 67,591 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Scotts Miracle-Gro by 26.5% during the second quarter. Price T Rowe Associates Inc. MD now owns 1,661,229 shares of the basic materials company’s stock worth $131,220,000 after buying an additional 347,852 shares in the last quarter. State Street Corp grew its position in Scotts Miracle-Gro by 0.6% during the third quarter. State Street Corp now owns 1,203,846 shares of the basic materials company’s stock worth $51,464,000 after buying an additional 6,659 shares in the last quarter. Finally, Northern Trust Corp grew its position in Scotts Miracle-Gro by 8.2% during the first quarter. Northern Trust Corp now owns 727,489 shares of the basic materials company’s stock worth $89,454,000 after buying an additional 55,352 shares in the last quarter. 68.98% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on SMG shares. JPMorgan Chase & Co. dropped their price target on Scotts Miracle-Gro from $80.00 to $45.00 and set a “neutral” rating on the stock in a report on Thursday, November 3rd. Wells Fargo & Company dropped their price target on Scotts Miracle-Gro from $75.00 to $50.00 and set an “equal weight” rating on the stock in a report on Monday, October 3rd. Truist Financial dropped their price target on Scotts Miracle-Gro from $85.00 to $50.00 in a report on Thursday, November 3rd. Stifel Nicolaus lowered their target price on Scotts Miracle-Gro from $75.00 to $48.00 in a research note on Thursday, October 27th. Finally, StockNews.com assumed coverage on Scotts Miracle-Gro in a research note on Wednesday, October 12th. They issued a “sell” rating on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $58.57.

About Scotts Miracle-Gro

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The Scotts Miracle-Gro Company is involved in the manufacture, marketing, and sale of products for lawn, garden care, and indoor and hydroponic gardening in the United States and internationally. It operates through three segments: U.S. Consumer, Hawthorne, and Other. The company 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 comprising 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 live goods and seeding solutions.

See Also

Earnings History for Scotts Miracle-Gro (NYSE:SMG)

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