The Scotts Miracle-Gro Company (NYSE:SMG) Expected to Announce Quarterly Sales of $605.72 Million

Brokerages predict that The Scotts Miracle-Gro Company (NYSE:SMG) will post $605.72 million in sales for the current quarter, according to Zacks. Five analysts have provided estimates for Scotts Miracle-Gro’s earnings. The lowest sales estimate is $544.00 million and the highest is $669.80 million. Scotts Miracle-Gro reported sales of $748.60 million during the same quarter last year, which would suggest a negative year over year growth rate of 19.1%. The business is expected to issue its next earnings report on Wednesday, February 2nd.

On average, analysts expect that Scotts Miracle-Gro will report full year sales of $4.92 billion for the current year, with estimates ranging from $4.66 billion to $5.05 billion. For the next fiscal year, analysts anticipate that the company will post sales of $5.24 billion, with estimates ranging from $5.04 billion to $5.33 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Scotts Miracle-Gro.

Scotts Miracle-Gro (NYSE:SMG) last announced its quarterly earnings data on Wednesday, November 3rd. The basic materials company reported ($0.82) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.84) by $0.02. Scotts Miracle-Gro had a return on equity of 56.20% and a net margin of 10.41%. The company had revenue of $737.80 million for the quarter, compared to analyst estimates of $695.38 million. During the same quarter in the previous year, the company earned $0.06 EPS. The firm’s revenue for the quarter was down 17.1% compared to the same quarter last year.

SMG has been the topic of a number of analyst reports. Truist lowered their price objective on Scotts Miracle-Gro from $250.00 to $225.00 and set a “buy” rating on the stock in a report on Tuesday, September 28th. Raymond James decreased their price target on Scotts Miracle-Gro from $230.00 to $200.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, September 15th. Barclays started coverage on Scotts Miracle-Gro in a research note on Thursday, November 18th. They set an “overweight” rating and a $205.00 price target on the stock. Truist Securities decreased their price target on Scotts Miracle-Gro from $250.00 to $225.00 and set a “buy” rating on the stock in a research note on Tuesday, September 28th. Finally, Berenberg Bank reissued a “buy” rating and set a $257.00 price target on shares of Scotts Miracle-Gro in a research note on Wednesday, September 1st. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $225.00.

SMG traded up $0.20 during trading on Thursday, reaching $165.08. The company’s stock had a trading volume of 527,295 shares, compared to its average volume of 405,763. Scotts Miracle-Gro has a 52-week low of $139.20 and a 52-week high of $254.34. The company’s fifty day moving average price is $154.31 and its 200-day moving average price is $173.51. The company has a market capitalization of $9.21 billion, a price-to-earnings ratio of 18.47 and a beta of 1.13. The company has a debt-to-equity ratio of 2.21, a quick ratio of 0.79 and a current ratio of 1.77.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 10th. Investors of record on Monday, November 29th will be given a dividend of $0.66 per share. The ex-dividend date of this dividend is Friday, November 26th. This represents a $2.64 annualized dividend and a dividend yield of 1.60%. Scotts Miracle-Gro’s dividend payout ratio is currently 29.53%.

Several institutional investors have recently modified their holdings of the stock. Mcdonald Partners LLC raised its holdings in Scotts Miracle-Gro by 6.1% in the 3rd quarter. Mcdonald Partners LLC now owns 1,389 shares of the basic materials company’s stock valued at $203,000 after acquiring an additional 80 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Scotts Miracle-Gro by 0.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 493,131 shares of the basic materials company’s stock valued at $72,174,000 after acquiring an additional 2,256 shares during the last quarter. Wealthsource Partners LLC acquired a new position in Scotts Miracle-Gro in the 3rd quarter valued at $287,000. Colony Group LLC raised its holdings in Scotts Miracle-Gro by 8.9% in the 3rd quarter. Colony Group LLC now owns 3,434 shares of the basic materials company’s stock valued at $503,000 after acquiring an additional 281 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC raised its holdings in Scotts Miracle-Gro by 19.6% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 11,600 shares of the basic materials company’s stock valued at $1,698,000 after acquiring an additional 1,900 shares during the last quarter. Hedge funds and other institutional investors own 61.65% of the company’s stock.

Scotts Miracle-Gro Company Profile

Scotts Miracle-Gro Co engages in the manufacture, marketing, and distribution of systems and accessories for hydroponic gardening. It operates through the following segments: U.S. Consumer, Hawthorne, and Other. The U.S. Consumer segment consists of consumer lawn and garden business. The Hawthorn segment includes indoor, urban, and hydroponic gardening business.

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Earnings History and Estimates for Scotts Miracle-Gro (NYSE:SMG)

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