Q3 2024 Earnings Forecast for The Scotts Miracle-Gro Company (NYSE:SMG) Issued By William Blair

The Scotts Miracle-Gro Company (NYSE:SMG) – Equities researchers at William Blair decreased their Q3 2024 earnings per share (EPS) estimates for Scotts Miracle-Gro in a research note issued to investors on Wednesday, May 1st. William Blair analyst J. Andersen now anticipates that the basic materials company will post earnings of $2.03 per share for the quarter, down from their previous forecast of $2.35. The consensus estimate for Scotts Miracle-Gro’s current full-year earnings is $2.65 per share. William Blair also issued estimates for Scotts Miracle-Gro’s Q4 2024 earnings at ($1.63) EPS.

Scotts Miracle-Gro (NYSE:SMG) last released its earnings results on Wednesday, May 1st. The basic materials company reported $3.69 earnings per share for the quarter, beating the consensus estimate of $3.33 by $0.36. The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.50 billion. Scotts Miracle-Gro had a negative return on equity of 20.97% and a negative net margin of 10.14%. The company’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.78 EPS.

Several other analysts also recently issued reports on SMG. Raymond James reissued a “market perform” rating on shares of Scotts Miracle-Gro in a research note on Monday, March 25th. Truist Financial cut Scotts Miracle-Gro from a “buy” rating to a “hold” rating and boosted their price objective for the company from $65.00 to $75.00 in a report on Friday, April 5th. JPMorgan Chase & Co. increased their target price on Scotts Miracle-Gro from $70.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, April 5th. Wells Fargo & Company lowered their target price on shares of Scotts Miracle-Gro from $85.00 to $83.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, StockNews.com raised shares of Scotts Miracle-Gro from a “sell” rating to a “hold” rating in a research note on Thursday, April 4th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Scotts Miracle-Gro presently has a consensus rating of “Hold” and an average price target of $73.00.

Scotts Miracle-Gro Trading Up 2.7 %

Scotts Miracle-Gro stock opened at $70.54 on Monday. Scotts Miracle-Gro has a 12-month low of $43.67 and a 12-month high of $77.95. The firm has a 50-day moving average price of $69.06 and a 200-day moving average price of $61.18. The firm has a market capitalization of $4.00 billion, a PE ratio of -11.30 and a beta of 1.70.

Scotts Miracle-Gro Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 24th will be given a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 3.74%. The ex-dividend date is Thursday, May 23rd. Scotts Miracle-Gro’s dividend payout ratio (DPR) is -42.31%.

Insider Transactions at Scotts Miracle-Gro

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

Institutional Trading of Scotts Miracle-Gro

A number of institutional investors have recently made changes to their positions in the business. Rise Advisors LLC raised its stake in Scotts Miracle-Gro by 135.2% in the first quarter. Rise Advisors LLC now owns 334 shares of the basic materials company’s stock valued at $25,000 after buying an additional 192 shares during the last quarter. GAMMA Investing LLC purchased a new position in shares of Scotts Miracle-Gro in the 4th quarter valued at approximately $29,000. Frazier Financial Advisors LLC acquired a new stake in Scotts Miracle-Gro in the 4th quarter worth approximately $36,000. Bruce G. Allen Investments LLC purchased a new stake in Scotts Miracle-Gro during the 4th quarter worth approximately $47,000. Finally, Headlands Technologies LLC acquired a new position in Scotts Miracle-Gro during the 3rd quarter valued at approximately $52,000. Institutional investors and hedge funds own 74.07% of the company’s stock.

Scotts Miracle-Gro Company Profile

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.