Scotts Miracle-Gro Co (NYSE:SMG) Declares Quarterly Dividend of $0.58

Scotts Miracle-Gro Co (NYSE:SMG) declared a quarterly dividend on Tuesday, April 28th, Wall Street Journal reports. Shareholders of record on Wednesday, May 27th will be paid a dividend of 0.58 per share by the basic materials company on Wednesday, June 10th. This represents a $2.32 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date of this dividend is Tuesday, May 26th.

Scotts Miracle-Gro has increased its dividend by an average of 4.0% per year over the last three years and has increased its dividend annually for the last 10 consecutive years. Scotts Miracle-Gro has a payout ratio of 43.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Scotts Miracle-Gro to earn $5.72 per share next year, which means the company should continue to be able to cover its $2.32 annual dividend with an expected future payout ratio of 40.6%.

Shares of Scotts Miracle-Gro stock opened at $150.70 on Monday. The company has a quick ratio of 1.32, a current ratio of 2.08 and a debt-to-equity ratio of 2.66. The company has a market cap of $8.36 billion, a P/E ratio of 26.39 and a beta of 0.91. The firm’s 50 day moving average price is $124.37 and its 200-day moving average price is $111.67. Scotts Miracle-Gro has a 52-week low of $76.50 and a 52-week high of $151.03.

Scotts Miracle-Gro (NYSE:SMG) last released its quarterly earnings results on Wednesday, May 6th. The basic materials company reported $4.50 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.18 by $0.32. The business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.32 billion. Scotts Miracle-Gro had a net margin of 9.49% and a return on equity of 42.92%. The business’s revenue for the quarter was up 16.2% on a year-over-year basis. During the same period in the previous year, the company earned $3.64 earnings per share. As a group, equities research analysts forecast that Scotts Miracle-Gro will post 5.26 EPS for the current fiscal year.

Several research analysts recently weighed in on the company. Raymond James boosted their target price on Scotts Miracle-Gro from $130.00 to $152.00 and gave the stock a “strong-buy” rating in a research note on Thursday, May 7th. SunTrust Banks boosted their price target on Scotts Miracle-Gro from $140.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, May 14th. ValuEngine raised shares of Scotts Miracle-Gro from a “sell” rating to a “hold” rating in a research report on Tuesday, February 4th. TheStreet raised shares of Scotts Miracle-Gro from a “c+” rating to a “b” rating in a research report on Wednesday, May 6th. Finally, JPMorgan Chase & Co. upped their price target on shares of Scotts Miracle-Gro from $103.00 to $115.00 and gave the company a “neutral” rating in a research note on Thursday, February 6th. Four investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $123.50.

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.

Featured Story: Buyback For Investors Defined

Dividend History for Scotts Miracle-Gro (NYSE:SMG)

Receive News & Ratings for Scotts Miracle-Gro Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Scotts Miracle-Gro and related companies with MarketBeat.com's FREE daily email newsletter.