Zacks: Analysts Anticipate The Scotts Miracle-Gro Company (NYSE:SMG) Will Announce Quarterly Sales of $605.72 Million

Equities analysts expect The Scotts Miracle-Gro Company (NYSE:SMG) to announce sales of $605.72 million for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Scotts Miracle-Gro’s earnings, with the lowest sales estimate coming in at $544.00 million and the highest estimate coming in at $669.80 million. Scotts Miracle-Gro reported sales of $748.60 million in the same quarter last year, which indicates a negative year-over-year growth rate of 19.1%. The business is scheduled to announce its next earnings report on Wednesday, February 2nd.

According to Zacks, 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 year, analysts expect that the business will report 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 earnings results on Wednesday, November 3rd. The basic materials company reported ($0.82) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.84) by $0.02. The firm had revenue of $737.80 million during the quarter, compared to analysts’ expectations of $695.38 million. Scotts Miracle-Gro had a return on equity of 56.20% and a net margin of 10.41%. The company’s quarterly revenue was down 17.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.06 EPS.

A number of equities analysts recently issued reports on the company. Raymond James dropped their price objective on Scotts Miracle-Gro from $230.00 to $200.00 and set a “strong-buy” rating for the company in a report on Wednesday, September 15th. Berenberg Bank restated a “buy” rating and set a $257.00 price objective on shares of Scotts Miracle-Gro in a report on Wednesday, September 1st. Truist dropped their price objective on Scotts Miracle-Gro from $250.00 to $225.00 and set a “buy” rating for the company in a report on Tuesday, September 28th. Barclays assumed coverage on Scotts Miracle-Gro in a report on Thursday, November 18th. They set an “overweight” rating and a $205.00 price objective for the company. Finally, Truist Securities decreased their target price on Scotts Miracle-Gro from $250.00 to $225.00 and set a “buy” rating for the company in a research report on Tuesday, September 28th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $225.00.

Several institutional investors and hedge funds have recently added to or reduced their stakes in SMG. Vigilant Capital Management LLC bought a new position in shares of Scotts Miracle-Gro in the 3rd quarter worth $26,000. Paragon Wealth Strategies LLC bought a new position in shares of Scotts Miracle-Gro in the 2nd quarter worth $27,000. Wolff Wiese Magana LLC raised its position in shares of Scotts Miracle-Gro by 134.9% in the 3rd quarter. Wolff Wiese Magana LLC now owns 195 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 112 shares in the last quarter. Berman Capital Advisors LLC raised its position in shares of Scotts Miracle-Gro by 124.7% in the 2nd quarter. Berman Capital Advisors LLC now owns 164 shares of the basic materials company’s stock worth $31,000 after acquiring an additional 91 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its position in shares of Scotts Miracle-Gro by 101.2% in the 2nd quarter. Jones Financial Companies Lllp now owns 167 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 84 shares in the last quarter. 61.65% of the stock is owned by hedge funds and other institutional investors.

SMG traded up $0.20 during trading hours on Thursday, reaching $165.08. 527,295 shares of the company’s stock traded hands, compared to its average volume of 405,763. The firm has a 50-day moving average price of $154.31 and a 200 day moving average price of $173.51. Scotts Miracle-Gro has a 52-week low of $139.20 and a 52-week high of $254.34. The company has a quick ratio of 0.79, a current ratio of 1.77 and a debt-to-equity ratio of 2.21. The firm has a market capitalization of $9.21 billion, a PE ratio of 18.47 and a beta of 1.13.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 10th. Shareholders of record on Monday, November 29th will be given a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend is Friday, November 26th. Scotts Miracle-Gro’s dividend payout ratio (DPR) is presently 29.53%.

About Scotts Miracle-Gro

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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