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.
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.
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