Scotts Miracle-Gro (SMG) Updates FY19 Earnings Guidance

Scotts Miracle-Gro (NYSE:SMG) updated its FY19 earnings guidance on Wednesday. The company provided earnings per share guidance of $4.10-4.30 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $4.31. The company issued revenue guidance of +10-11% to ~$2.93-2.96 billion, compared to the consensus revenue estimate of $2.97 billion.

A number of research firms recently commented on SMG. ValuEngine upgraded Scotts Miracle-Gro from a sell rating to a hold rating in a report on Wednesday. Zacks Investment Research upgraded Scotts Miracle-Gro from a sell rating to a hold rating in a report on Wednesday, October 24th. Bank of America upgraded Scotts Miracle-Gro from an underperform rating to a neutral rating and set a $72.00 price objective on the stock in a report on Wednesday, October 24th. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. decreased their price objective on Scotts Miracle-Gro from $85.00 to $70.00 and set an underweight rating on the stock in a report on Friday, August 24th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. Scotts Miracle-Gro currently has a consensus rating of Hold and a consensus target price of $85.00.

NYSE:SMG traded up $2.43 during trading hours on Thursday, reaching $78.20. 892,475 shares of the stock were exchanged, compared to its average volume of 637,831. The company has a quick ratio of 0.99, a current ratio of 1.60 and a debt-to-equity ratio of 3.72. Scotts Miracle-Gro has a twelve month low of $65.20 and a twelve month high of $110.12. The stock has a market capitalization of $3.93 billion, a price-to-earnings ratio of 19.85, a price-to-earnings-growth ratio of 3.77 and a beta of 0.42.

Scotts Miracle-Gro (NYSE:SMG) last released its quarterly earnings results on Wednesday, November 7th. The basic materials company reported ($0.75) EPS for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.08). Scotts Miracle-Gro had a return on equity of 43.37% and a net margin of 6.80%. The firm had revenue of $434.00 million for the quarter, compared to analyst estimates of $441.10 million. During the same quarter last year, the company earned ($0.26) earnings per share. The firm’s revenue for the quarter was up 15.1% on a year-over-year basis. On average, sell-side analysts expect that Scotts Miracle-Gro will post 3.77 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Monday, November 26th will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date of this dividend is Friday, November 23rd. Scotts Miracle-Gro’s dividend payout ratio (DPR) is 55.84%.

In other Scotts Miracle-Gro news, Director Nancy G. Mistretta sold 6,300 shares of the company’s stock in a transaction on Friday, September 14th. The stock was sold at an average price of $76.93, for a total transaction of $484,659.00. Following the transaction, the director now directly owns 20,824 shares in the company, valued at $1,601,990.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 29.14% of the stock is owned by corporate insiders.

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Scotts Miracle-Gro Company Profile

The Scotts Miracle-Gro Company manufactures, markets, and sells consumer lawn and garden products. The company operates through three segments: U.S. Consumer, Hawthorne, and Other. It offers lawn care products, including lawn fertilizers, grass seed products, spreaders, other durable products, and outdoor cleaners, as well as lawn-related weed, pest, and disease control products.

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

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