Zacks: Analysts Expect Scotts Miracle-Gro Co (SMG) to Announce -$1.24 EPS

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Wall Street brokerages predict that Scotts Miracle-Gro Co (NYSE:SMG) will announce earnings per share of ($1.24) for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Scotts Miracle-Gro’s earnings, with the highest EPS estimate coming in at ($1.07) and the lowest estimate coming in at ($1.39). Scotts Miracle-Gro reported earnings per share of ($1.08) during the same quarter last year, which suggests a negative year over year growth rate of 14.8%. The firm is scheduled to issue its next earnings report on Tuesday, January 29th.

On average, analysts expect that Scotts Miracle-Gro will report full year earnings of $4.18 per share for the current year, with EPS estimates ranging from $4.10 to $4.25. For the next financial year, analysts forecast that the business will report earnings of $4.61 per share, with EPS estimates ranging from $4.49 to $4.75. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that that provide coverage for Scotts Miracle-Gro.

Scotts Miracle-Gro (NYSE:SMG) last issued its quarterly earnings results on Wednesday, November 7th. The basic materials company reported ($0.75) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.67) by ($0.08). The company had revenue of $434.00 million for the quarter, compared to analyst estimates of $441.10 million. Scotts Miracle-Gro had a return on equity of 44.65% and a net margin of 2.39%. The firm’s quarterly revenue was up 15.1% on a year-over-year basis. During the same quarter last year, the company earned ($0.26) EPS.

A number of research analysts have issued reports on SMG shares. Zacks Investment Research upgraded shares of Scotts Miracle-Gro from a “hold” rating to a “buy” rating and set a $74.00 target price on the stock in a research report on Tuesday, January 8th. ValuEngine upgraded shares of Scotts Miracle-Gro from a “sell” rating to a “hold” rating in a research report on Wednesday, November 7th. Bank of America upgraded shares of Scotts Miracle-Gro from an “underperform” rating to a “neutral” rating and set a $72.00 price target on the stock in a research report on Wednesday, October 24th. They noted that the move was a valuation call. Finally, Raymond James upgraded shares of Scotts Miracle-Gro from a “market perform” rating to an “outperform” rating and set a $71.00 price target on the stock in a research report on Monday, December 17th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $76.40.

NYSE SMG traded down $1.38 on Wednesday, hitting $67.47. 812,666 shares of the company were exchanged, compared to its average volume of 584,624. The company has a market cap of $3.84 billion, a price-to-earnings ratio of 18.19, a price-to-earnings-growth ratio of 1.82 and a beta of 0.69. The company has a quick ratio of 0.66, a current ratio of 1.45 and a debt-to-equity ratio of 5.24. Scotts Miracle-Gro has a 1-year low of $57.96 and a 1-year high of $108.75.

In other news, major shareholder Hagedorn Partnership, L.P. sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, January 14th. The shares were sold at an average price of $68.27, for a total transaction of $3,413,500.00. Following the completion of the transaction, the insider now directly owns 15,602,150 shares of the company’s stock, valued at approximately $1,065,158,780.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael C. Lukemire sold 10,156 shares of the firm’s stock in a transaction that occurred on Friday, December 7th. The stock was sold at an average price of $69.82, for a total transaction of $709,091.92. Following the transaction, the insider now directly owns 49,001 shares of the company’s stock, valued at $3,421,249.82. The disclosure for this sale can be found here. 30.37% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Renaissance Technologies LLC bought a new position in shares of Scotts Miracle-Gro during the 3rd quarter worth approximately $36,767,000. Hsbc Holdings PLC boosted its holdings in shares of Scotts Miracle-Gro by 14.1% in the 3rd quarter. Hsbc Holdings PLC now owns 5,352 shares of the basic materials company’s stock valued at $421,000 after buying an additional 662 shares during the last quarter. Broadview Advisors LLC boosted its holdings in shares of Scotts Miracle-Gro by 66.6% in the 3rd quarter. Broadview Advisors LLC now owns 98,397 shares of the basic materials company’s stock valued at $7,747,000 after buying an additional 39,350 shares during the last quarter. Curbstone Financial Management Corp boosted its holdings in shares of Scotts Miracle-Gro by 11.6% in the 3rd quarter. Curbstone Financial Management Corp now owns 8,680 shares of the basic materials company’s stock valued at $683,000 after buying an additional 900 shares during the last quarter. Finally, Eukles Asset Management acquired a new stake in shares of Scotts Miracle-Gro in the 4th quarter valued at approximately $198,000. 63.88% of the stock is owned by institutional investors.

About Scotts Miracle-Gro

The Scotts Miracle-Gro Company manufactures, markets, and sells consumer lawn and garden products in the United States and internatonally. The company operates through three segments: U.S. Consumer, Hawthorne, and Other. It offers lawn care products, such as lawn fertilizers, grass seed products, spreaders, other durable products, and outdoor cleaners, as well as lawn-related weed, pest, and disease control products.

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

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