Scotts Miracle-Gro (NYSE:SMG) Releases Earnings Results, Beats Expectations By $0.36 EPS

Scotts Miracle-Gro (NYSE:SMG) issued its quarterly earnings data on Wednesday. The basic materials company reported $3.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.33 by $0.36, Briefing.com reports. Scotts Miracle-Gro had a negative net margin of 10.14% and a negative return on equity of 20.97%. The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the previous year, the firm earned $3.78 EPS. The company’s quarterly revenue was down .4% compared to the same quarter last year.

Scotts Miracle-Gro Price Performance

SMG stock opened at $70.54 on Friday. The company has a market capitalization of $4.00 billion, a P/E ratio of -11.30 and a beta of 1.70. Scotts Miracle-Gro has a 12 month low of $43.67 and a 12 month high of $77.95. The firm’s fifty day simple moving average is $69.06 and its 200-day simple moving average is $61.11.

Scotts Miracle-Gro Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 24th will be paid a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 3.74%. The ex-dividend date is Thursday, May 23rd. Scotts Miracle-Gro’s payout ratio is -42.31%.

Insider Buying and Selling

In other Scotts Miracle-Gro news, Director Stephen L. Johnson sold 1,394 shares of the company’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 directly owns 22,918 shares of the company’s stock, valued at $1,314,347.30. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Hagedorn Partnership, L.P. sold 86,356 shares of Scotts Miracle-Gro stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $65.41, for a total transaction of $5,648,545.96. Following the completion of the transaction, the director now directly owns 13,777,012 shares of the company’s stock, valued at approximately $901,154,354.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, 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 transaction of $79,945.90. Following the completion of the transaction, the director now owns 22,918 shares of the company’s stock, valued at $1,314,347.30. The disclosure for this sale can be found here. Insiders sold a total of 102,750 shares of company stock valued at $6,604,492 over the last 90 days. Insiders own 26.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on SMG shares. StockNews.com raised Scotts Miracle-Gro from a “sell” rating to a “hold” rating in a research report on Thursday, April 4th. Stifel Nicolaus increased their price target on Scotts Miracle-Gro from $55.00 to $65.00 and gave the company a “hold” rating in a research note on Monday, March 4th. JPMorgan Chase & Co. boosted their price target on Scotts Miracle-Gro from $70.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, April 5th. Raymond James reaffirmed a “market perform” rating on shares of Scotts Miracle-Gro in a research report on Monday, March 25th. Finally, Truist Financial cut shares of Scotts Miracle-Gro from a “buy” rating to a “hold” rating and lifted their target price for the stock from $65.00 to $75.00 in a research note on Friday, April 5th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $72.57.

Scotts Miracle-Gro Company Profile

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.