Scotts Miracle-Gro Co (NYSE:SMG) Expected to Announce Quarterly Sales of $1.07 Billion

Wall Street brokerages expect Scotts Miracle-Gro Co (NYSE:SMG) to announce $1.07 billion in sales for the current quarter, Zacks reports. Four analysts have made estimates for Scotts Miracle-Gro’s earnings. The lowest sales estimate is $1.05 billion and the highest is $1.07 billion. Scotts Miracle-Gro posted sales of $994.60 million in the same quarter last year, which suggests a positive year over year growth rate of 7.6%. The company is scheduled to report its next quarterly earnings report on Tuesday, July 30th.

According to Zacks, analysts expect that Scotts Miracle-Gro will report full-year sales of $3.01 billion for the current fiscal year, with estimates ranging from $3.00 billion to $3.02 billion. For the next year, analysts forecast that the firm will report sales of $3.08 billion, with estimates ranging from $3.07 billion to $3.09 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Scotts Miracle-Gro.

Scotts Miracle-Gro (NYSE:SMG) last posted its quarterly earnings data on Wednesday, May 1st. The basic materials company reported $3.64 earnings per share for the quarter, topping the consensus estimate of $3.42 by $0.22. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. Scotts Miracle-Gro had a net margin of 8.67% and a return on equity of 53.15%. The company’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.88 earnings per share.

Several research firms recently weighed in on SMG. ValuEngine downgraded shares of Willdan Group from a “buy” rating to a “hold” rating in a report on Thursday, May 30th. Raymond James reaffirmed a “market perform” rating and issued a C$43.00 price objective on shares of Snc-Lavalin Group in a report on Wednesday, March 27th. TheStreet downgraded shares of ZTO Express (Cayman) from a “b+” rating to a “c” rating in a report on Wednesday, May 1st. Finally, Bank of America set a $54.00 price objective on shares of Fortis and gave the stock a “buy” rating in a report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $76.03.

SMG stock traded up $1.10 during trading on Friday, hitting $99.99. The company had a trading volume of 241,800 shares, compared to its average volume of 471,050. The company has a market capitalization of $5.52 billion, a price-to-earnings ratio of 26.95, a price-to-earnings-growth ratio of 2.18 and a beta of 0.87. The firm has a 50 day moving average price of $95.46. Scotts Miracle-Gro has a fifty-two week low of $57.96 and a fifty-two week high of $101.11. The company has a quick ratio of 1.00, a current ratio of 1.59 and a debt-to-equity ratio of 3.28.

Hedge funds and other institutional investors have recently modified their holdings of the business. Curbstone Financial Management Corp lifted its stake in Scotts Miracle-Gro by 1.7% during the second quarter. Curbstone Financial Management Corp now owns 7,630 shares of the basic materials company’s stock valued at $752,000 after buying an additional 130 shares in the last quarter. WINTON GROUP Ltd increased its holdings in shares of Scotts Miracle-Gro by 52.1% in the 2nd quarter. WINTON GROUP Ltd now owns 276,520 shares of the basic materials company’s stock valued at $27,237,000 after purchasing an additional 94,772 shares during the period. Park National Corp OH acquired a new position in shares of Scotts Miracle-Gro in the 2nd quarter valued at about $236,000. FMR LLC increased its holdings in shares of Scotts Miracle-Gro by 24.5% in the 1st quarter. FMR LLC now owns 2,941,892 shares of the basic materials company’s stock valued at $231,173,000 after purchasing an additional 578,765 shares during the period. Finally, Front Row Advisors LLC acquired a new position in shares of Scotts Miracle-Gro in the 1st quarter valued at about $25,000. 66.04% of the stock is owned by institutional investors.

About Scotts Miracle-Gro

The Scotts Miracle-Gro Company manufactures, markets, and sells consumer lawn and garden products in the United States and internationally. The company operates through three segments: U.S. Consumer, Hawthorne, and Other. It offers lawn care products, such as 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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