Scotts Miracle-Gro (SMG) Set to Announce Earnings on Wednesday

Scotts Miracle-Gro (NYSE:SMG) is scheduled to be announcing its earnings results before the market opens on Wednesday, May 1st. Analysts expect the company to announce earnings of $3.33 per share for the quarter. Individual that wish to register for the company’s earnings conference call can do so using this link.

Scotts Miracle-Gro (NYSE:SMG) last released its earnings results on Wednesday, February 7th. The basic materials company reported ($1.45) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.62) by $0.17. Scotts Miracle-Gro had a negative return on equity of 44.37% and a negative net margin of 11.52%. The firm had revenue of $410.40 million for the quarter, compared to the consensus estimate of $412.83 million. During the same period in the prior year, the firm earned ($1.02) EPS. The firm’s revenue was down 22.1% on a year-over-year basis. On average, analysts expect Scotts Miracle-Gro to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Scotts Miracle-Gro Stock Performance

Shares of SMG opened at $68.58 on Wednesday. The stock has a 50-day moving average of $67.38 and a two-hundred day moving average of $60.14. The stock has a market cap of $3.89 billion, a P/E ratio of -9.74 and a beta of 1.70. Scotts Miracle-Gro has a one year low of $43.67 and a one year high of $77.95.

Scotts Miracle-Gro Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 24th will be issued a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.85%. The ex-dividend date is Thursday, May 23rd. Scotts Miracle-Gro’s dividend payout ratio (DPR) is -37.50%.

Insider Buying and Selling at Scotts Miracle-Gro

In other news, major shareholder Hagedorn Partnership, L.P. sold 15,000 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $58.40, for a total transaction of $876,000.00. Following the sale, the insider now directly owns 13,881,368 shares in the company, valued at approximately $810,671,891.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, major shareholder Hagedorn Partnership, L.P. sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $58.40, for a total transaction of $876,000.00. Following the completion of the transaction, the insider now directly owns 13,881,368 shares of the company’s stock, valued at approximately $810,671,891.20. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Stephen L. Johnson sold 1,394 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $57.35, for a total value of $79,945.90. Following the transaction, the director now owns 22,918 shares in the company, valued at approximately $1,314,347.30. The disclosure for this sale can be found here. Over the last quarter, insiders sold 102,750 shares of company stock valued at $6,604,492. Corporate insiders own 26.46% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. JPMorgan Chase & Co. raised their price target on shares of Scotts Miracle-Gro from $70.00 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, April 5th. Stifel Nicolaus raised their target price on shares of Scotts Miracle-Gro from $55.00 to $65.00 and gave the stock a “hold” rating in a report on Monday, March 4th. Truist Financial downgraded shares of Scotts Miracle-Gro from a “buy” rating to a “hold” rating and boosted their target price for the company from $65.00 to $75.00 in a research report on Friday, April 5th. StockNews.com raised Scotts Miracle-Gro from a “sell” rating to a “hold” rating in a research report on Thursday, April 4th. Finally, Raymond James reissued a “market perform” rating on shares of Scotts Miracle-Gro in a report on Monday, March 25th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $70.00.

About Scotts Miracle-Gro

The Scotts Miracle-Gro Company, together with its subsidiaries, manufactures, markets, and sells 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, and other durable products, as well as lawn-related weed, pest, and disease control products; and gardening and landscape products, which include water-soluble and continuous-release plant foods, potting mixes, garden soils, mulches and ground cover products, plant-related pest and disease control products, organic garden products, and live goods and seeding solutions.