Scotts Miracle-Gro (SMG) to Release Quarterly Earnings on Wednesday

Scotts Miracle-Gro (NYSE:SMG) will be posting its quarterly earnings results before the market opens on Wednesday, May 1st. Analysts expect Scotts Miracle-Gro to post earnings of $3.33 per share for the quarter. Persons that are interested in registering for the company’s earnings conference call can do so using this link.

Scotts Miracle-Gro (NYSE:SMG) last announced its quarterly earnings data on Wednesday, February 7th. The basic materials company reported ($1.45) EPS for the quarter, beating the consensus estimate of ($1.62) by $0.17. The business had revenue of $410.40 million during the quarter, compared to analyst estimates of $412.83 million. Scotts Miracle-Gro had a negative return on equity of 44.37% and a negative net margin of 11.52%. The company’s revenue for the quarter was down 22.1% on a year-over-year basis. During the same quarter last year, the firm posted ($1.02) earnings per share. On average, analysts expect Scotts Miracle-Gro to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Scotts Miracle-Gro Stock Performance

Shares of Scotts Miracle-Gro stock traded down $0.78 during trading on Tuesday, hitting $67.68. The company’s stock had a trading volume of 45,619 shares, compared to its average volume of 724,548. Scotts Miracle-Gro has a 52 week low of $43.67 and a 52 week high of $77.95. The company has a fifty day simple moving average of $68.18 and a two-hundred day simple moving average of $60.70. The company has a market capitalization of $3.84 billion, a PE ratio of -9.72 and a beta of 1.70.

Scotts Miracle-Gro Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 24th will be given a $0.66 dividend. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.90%. Scotts Miracle-Gro’s dividend payout ratio is currently -37.50%.

Insider Activity at Scotts Miracle-Gro

In other news, Director Hagedorn Partnership, L.P. sold 86,356 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $65.41, for a total value of $5,648,545.96. Following the transaction, the director now owns 13,777,012 shares of the company’s stock, valued at $901,154,354.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Scotts Miracle-Gro news, Director Stephen L. Johnson sold 1,394 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $57.35, for a total value of $79,945.90. Following the sale, the director now owns 22,918 shares in the company, valued at approximately $1,314,347.30. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Hagedorn Partnership, L.P. sold 86,356 shares of Scotts Miracle-Gro stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $65.41, for a total value of $5,648,545.96. Following the completion of the sale, the director now directly owns 13,777,012 shares in the company, valued at $901,154,354.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 102,750 shares of company stock worth $6,604,492. Corporate insiders own 26.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SMG. Truist Financial cut Scotts Miracle-Gro from a “buy” rating to a “hold” rating and increased their target price for the stock from $65.00 to $75.00 in a research note on Friday, April 5th. Raymond James restated a “market perform” rating on shares of Scotts Miracle-Gro in a research note on Monday, March 25th. Stifel Nicolaus increased their price objective on Scotts Miracle-Gro from $55.00 to $65.00 and gave the company a “hold” rating in a research report on Monday, March 4th. StockNews.com raised Scotts Miracle-Gro from a “sell” rating to a “hold” rating in a research report on Thursday, April 4th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Scotts Miracle-Gro from $70.00 to $85.00 and gave the company an “overweight” rating in a research report on Friday, April 5th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $70.00.

About Scotts Miracle-Gro

The Scotts Miracle-Gro Company, together with its subsidiaries, manufactures, markets, and sells products for lawn, garden care, and indoor and hydroponic gardening in the United States and internationally. It operates through three segments: U.S. Consumer, Hawthorne, and Other. The company provides lawn care products, comprising lawn fertilizers, grass seed products, spreaders, and other durable products, as well as lawn-related weed, pest, and disease control products; and gardening and landscape products, which include water-soluble and continuous-release plant foods, potting mixes, garden soils, mulches and ground cover products, plant-related pest and disease control products, organic garden products, and live goods and seeding solutions.