Brokerages Anticipate Scotts Miracle-Gro Co (NYSE:SMG) to Announce $3.35 EPS

Equities research analysts expect Scotts Miracle-Gro Co (NYSE:SMG) to post $3.35 earnings per share for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Scotts Miracle-Gro’s earnings. The highest EPS estimate is $3.50 and the lowest is $3.09. Scotts Miracle-Gro reported earnings of $3.11 per share in the same quarter last year, which would suggest a positive year over year growth rate of 7.7%. The business is expected to announce its next quarterly earnings report on Wednesday, July 29th.

On average, analysts expect that Scotts Miracle-Gro will report full-year earnings of $5.83 per share for the current financial year, with EPS estimates ranging from $5.75 to $5.95. For the next financial year, analysts expect that the business will report earnings of $6.06 per share, with EPS estimates ranging from $5.90 to $6.45. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of analysts that cover Scotts Miracle-Gro.

Scotts Miracle-Gro (NYSE:SMG) last issued its quarterly earnings results on Wednesday, May 6th. The basic materials company reported $4.50 earnings per share for the quarter, beating the Zacks’ consensus estimate of $4.18 by $0.32. Scotts Miracle-Gro had a net margin of 9.49% and a return on equity of 42.92%. The firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period last year, the company posted $3.64 EPS. Scotts Miracle-Gro’s quarterly revenue was up 16.2% compared to the same quarter last year.

SMG has been the subject of several research reports. SunTrust Banks boosted their target price on shares of Scotts Miracle-Gro from $140.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, May 14th. TheStreet raised shares of Scotts Miracle-Gro from a “c+” rating to a “b” rating in a report on Wednesday, May 6th. William Blair reaffirmed a “buy” rating on shares of Scotts Miracle-Gro in a report on Tuesday, June 9th. Finally, Raymond James lowered shares of Scotts Miracle-Gro from a “strong-buy” rating to a “market perform” rating and set a $152.00 price target on the stock. in a research note on Tuesday, May 26th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Scotts Miracle-Gro has a consensus rating of “Hold” and an average price target of $123.50.

Scotts Miracle-Gro stock traded down $0.98 during trading on Wednesday, hitting $133.49. The company had a trading volume of 566,734 shares, compared to its average volume of 492,461. Scotts Miracle-Gro has a 1-year low of $76.50 and a 1-year high of $151.03. The company has a current ratio of 2.08, a quick ratio of 1.32 and a debt-to-equity ratio of 2.66. The company’s 50 day simple moving average is $137.41 and its 200-day simple moving average is $118.22. The stock has a market cap of $7.22 billion, a price-to-earnings ratio of 23.38 and a beta of 0.95.

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Wednesday, May 27th were issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date was Tuesday, May 26th. Scotts Miracle-Gro’s payout ratio is 51.90%.

In other Scotts Miracle-Gro news, major shareholder Robert Hagedorn sold 30,732 shares of the firm’s stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $132.08, for a total transaction of $4,059,082.56. Following the completion of the transaction, the insider now directly owns 14,778,221 shares of the company’s stock, valued at approximately $1,951,907,429.68. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Hagedorn Partnership, L.P. sold 101,171 shares of the firm’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $131.08, for a total transaction of $13,261,494.68. Following the transaction, the insider now directly owns 15,020,316 shares of the company’s stock, valued at $1,968,863,021.28. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 236,470 shares of company stock valued at $31,153,233. Company insiders own 28.20% of the company’s stock.

Several institutional investors have recently bought and sold shares of SMG. Victory Capital Management Inc. lifted its position in Scotts Miracle-Gro by 65.7% in the 4th quarter. Victory Capital Management Inc. now owns 13,329 shares of the basic materials company’s stock valued at $1,636,000 after purchasing an additional 5,285 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Scotts Miracle-Gro by 1.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 370,982 shares of the basic materials company’s stock valued at $39,391,000 after purchasing an additional 4,354 shares during the last quarter. Comerica Bank lifted its position in Scotts Miracle-Gro by 1.5% in the 4th quarter. Comerica Bank now owns 25,092 shares of the basic materials company’s stock valued at $3,032,000 after purchasing an additional 368 shares during the last quarter. Private Advisor Group LLC lifted its position in Scotts Miracle-Gro by 107.3% in the 4th quarter. Private Advisor Group LLC now owns 10,257 shares of the basic materials company’s stock valued at $1,090,000 after purchasing an additional 5,308 shares during the last quarter. Finally, First Allied Advisory Services Inc. lifted its position in Scotts Miracle-Gro by 9.7% in the 4th quarter. First Allied Advisory Services Inc. now owns 5,292 shares of the basic materials company’s stock valued at $561,000 after purchasing an additional 468 shares during the last quarter. Institutional investors own 63.09% of the company’s stock.

Scotts Miracle-Gro Company Profile

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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