Scotts Miracle-Gro (NYSE:SMG) Posts Quarterly Earnings Results, Beats Expectations By $0.37 EPS

Scotts Miracle-Gro (NYSE:SMG) released its quarterly earnings results on Wednesday. The basic materials company reported $3.11 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.74 by $0.37, Briefing.com reports. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.07 billion. Scotts Miracle-Gro had a net margin of 8.67% and a return on equity of 53.15%. The business’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.67 EPS. Scotts Miracle-Gro updated its FY 2019 guidance to $4.35-4.50 EPS and its FY19 guidance to $4.35-4.50 EPS.

NYSE SMG traded up $8.89 during mid-day trading on Wednesday, reaching $112.18. 1,916,216 shares of the stock were exchanged, compared to its average volume of 312,667. Scotts Miracle-Gro has a 1-year low of $57.96 and a 1-year high of $104.42. The firm’s fifty day simple moving average is $99.77. The firm has a market capitalization of $6.05 billion, a PE ratio of 30.24, a PEG ratio of 2.26 and a beta of 0.87. The company has a debt-to-equity ratio of 3.28, a current ratio of 1.59 and a quick ratio of 1.00.

A number of hedge funds and other institutional investors have recently made changes to their positions in SMG. Front Row Advisors LLC acquired a new stake in shares of Scotts Miracle-Gro during the first quarter valued at approximately $25,000. NEXT Financial Group Inc grew its holdings in shares of Scotts Miracle-Gro by 806.7% in the 2nd quarter. NEXT Financial Group Inc now owns 272 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 242 shares during the last quarter. Shine Investment Advisory Services Inc. grew its holdings in shares of Scotts Miracle-Gro by 106.5% in the 1st quarter. Shine Investment Advisory Services Inc. now owns 510 shares of the basic materials company’s stock worth $40,000 after purchasing an additional 263 shares during the last quarter. Bedel Financial Consulting Inc. grew its holdings in shares of Scotts Miracle-Gro by 58.5% in the 1st quarter. Bedel Financial Consulting Inc. now owns 515 shares of the basic materials company’s stock worth $40,000 after purchasing an additional 190 shares during the last quarter. Finally, Zions Bancorporation N.A. bought a new stake in shares of Scotts Miracle-Gro in the 1st quarter worth about $49,000. Hedge funds and other institutional investors own 66.12% of the company’s stock.

A number of analysts have issued reports on SMG shares. TheStreet raised Scotts Miracle-Gro from a “c” rating to a “b” rating in a research report on Wednesday, May 1st. Bank of America restated an “underperform” rating and issued a $91.00 price target (up previously from $83.00) on shares of Scotts Miracle-Gro in a research note on Tuesday. Finally, ValuEngine upgraded shares of Scotts Miracle-Gro from a “hold” rating to a “buy” rating in a research note on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $78.03.

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 for Scotts Miracle-Gro (NYSE:SMG)

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