The Scotts Miracle-Gro Company (NYSE:SMG) to Post Q3 2024 Earnings of $1.82 Per Share, Zacks Research Forecasts

The Scotts Miracle-Gro Company (NYSE:SMG) – Zacks Research reduced their Q3 2024 earnings per share estimates for Scotts Miracle-Gro in a research note issued on Wednesday, May 22nd. Zacks Research analyst S. Rathi now expects that the basic materials company will post earnings of $1.82 per share for the quarter, down from their prior estimate of $2.08. The consensus estimate for Scotts Miracle-Gro’s current full-year earnings is $2.66 per share. Zacks Research also issued estimates for Scotts Miracle-Gro’s Q3 2025 earnings at $3.26 EPS.

Other research analysts also recently issued research reports about the stock. Wells Fargo & Company cut their price target on shares of Scotts Miracle-Gro from $85.00 to $83.00 and set an “overweight” rating on the stock in a report on Thursday, May 2nd. Stifel Nicolaus boosted their price target on Scotts Miracle-Gro from $55.00 to $65.00 and gave the stock a “hold” rating in a research report on Monday, March 4th. JPMorgan Chase & Co. increased their price objective on Scotts Miracle-Gro from $70.00 to $85.00 and gave the company an “overweight” rating in a report on Friday, April 5th. Raymond James reissued a “market perform” rating on shares of Scotts Miracle-Gro in a research note on Monday, March 25th. Finally, StockNews.com upgraded Scotts Miracle-Gro from a “sell” rating to a “hold” rating in a report on Thursday, April 4th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $73.00.

Scotts Miracle-Gro Stock Down 2.3 %

NYSE SMG opened at $64.94 on Thursday. The stock has a market capitalization of $3.69 billion, a PE ratio of -10.41 and a beta of 1.70. Scotts Miracle-Gro has a 12-month low of $43.67 and a 12-month high of $77.95. The company has a 50 day moving average price of $70.07 and a two-hundred day moving average price of $63.14.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Scotts Miracle-Gro by 18.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,465 shares of the basic materials company’s stock worth $334,000 after buying an additional 1,024 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in shares of Scotts Miracle-Gro in the 3rd quarter worth about $316,000. Nisa Investment Advisors LLC increased its position in shares of Scotts Miracle-Gro by 9.5% during the 3rd quarter. Nisa Investment Advisors LLC now owns 28,730 shares of the basic materials company’s stock worth $1,485,000 after purchasing an additional 2,500 shares in the last quarter. California Public Employees Retirement System lifted its holdings in Scotts Miracle-Gro by 19.8% during the 3rd quarter. California Public Employees Retirement System now owns 78,474 shares of the basic materials company’s stock valued at $4,056,000 after purchasing an additional 12,969 shares during the last quarter. Finally, Signaturefd LLC boosted its position in Scotts Miracle-Gro by 33.3% in the third quarter. Signaturefd LLC now owns 1,988 shares of the basic materials company’s stock valued at $103,000 after buying an additional 497 shares in the last quarter. 74.07% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Scotts Miracle-Gro news, Director Hagedorn Partnership, L.P. sold 86,356 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $65.41, for a total value of $5,648,545.96. Following the sale, the director now directly owns 13,777,012 shares in the company, valued at approximately $901,154,354.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 26.46% of the company’s stock.

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 issued a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a yield of 4.07%. The ex-dividend date is Thursday, May 23rd. Scotts Miracle-Gro’s dividend payout ratio (DPR) is currently -42.31%.

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.