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

Scotts Miracle-Gro (NYSE:SMG) will release its earnings data before the market opens on Wednesday, May 1st. Analysts expect Scotts Miracle-Gro to post earnings of $3.33 per share for the quarter. Investors interested in participating in the company’s conference call can do so using this link.

Scotts Miracle-Gro (NYSE:SMG) last released its quarterly earnings data on Wednesday, February 7th. The basic materials company reported ($1.45) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.62) by $0.17. Scotts Miracle-Gro had a negative net margin of 11.52% and a negative return on equity of 44.37%. The company had revenue of $410.40 million during the quarter, compared to the consensus estimate of $412.83 million. During the same period in the previous year, the firm earned ($1.02) earnings per share. Scotts Miracle-Gro’s revenue for the quarter was down 22.1% on a year-over-year basis. 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 Trading Up 1.0 %

Shares of SMG stock opened at $68.58 on Wednesday. The company has a market cap of $3.89 billion, a PE ratio of -9.74 and a beta of 1.70. The company’s fifty day simple moving average is $67.38 and its 200-day simple moving average is $60.14. Scotts Miracle-Gro has a 52 week low of $43.67 and a 52 week high of $77.95.

Scotts Miracle-Gro Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 24th will be issued a $0.66 dividend. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $2.64 annualized dividend and a yield of 3.85%. Scotts Miracle-Gro’s dividend payout ratio is currently -37.50%.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other news, Director Hagedorn Partnership, L.P. sold 86,356 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was 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 in the company, valued at approximately $901,154,354.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Stephen L. Johnson sold 1,394 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $57.35, for a total transaction of $79,945.90. Following the transaction, the director now owns 22,918 shares of the company’s stock, valued at $1,314,347.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Hagedorn Partnership, L.P. sold 86,356 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were 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 of the company’s stock, valued at $901,154,354.92. The disclosure for this sale can be found here. Insiders have sold 102,750 shares of company stock worth $6,604,492 in the last three months. 26.46% of the stock is owned by insiders.

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.