Zacks: Analysts Expect The Scotts Miracle-Gro Company (NYSE:SMG) to Post $5.50 Earnings Per Share


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Wall Street analysts predict that The Scotts Miracle-Gro Company (NYSE:SMG) will announce earnings per share (EPS) of $5.50 for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for The Scotts Miracle-Gro’s earnings, with the lowest EPS estimate coming in at $5.25 and the highest estimate coming in at $5.75. The Scotts Miracle-Gro reported earnings of $4.50 per share during the same quarter last year, which suggests a positive year over year growth rate of 22.2%. The business is scheduled to announce its next quarterly earnings report on Wednesday, May 5th.

On average, analysts expect that The Scotts Miracle-Gro will report full year earnings of $8.84 per share for the current year, with EPS estimates ranging from $8.50 to $9.75. For the next financial year, analysts expect that the firm will post earnings of $8.73 per share, with EPS estimates ranging from $8.10 to $9.00. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that cover The Scotts Miracle-Gro.

The Scotts Miracle-Gro (NYSE:SMG) last posted its quarterly earnings results on Tuesday, February 2nd. The basic materials company reported $0.39 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.73) by $1.12. The Scotts Miracle-Gro had a return on equity of 52.60% and a net margin of 9.38%. The business had revenue of $748.60 million during the quarter, compared to the consensus estimate of $623.98 million. During the same quarter in the previous year, the firm earned ($1.12) earnings per share. The Scotts Miracle-Gro’s revenue for the quarter was up 104.6% compared to the same quarter last year.

Several equities research analysts have weighed in on SMG shares. Truist Financial lifted their price target on shares of The Scotts Miracle-Gro from $250.00 to $270.00 in a research note on Thursday, February 4th. Raymond James lifted their price objective on shares of The Scotts Miracle-Gro from $274.00 to $290.00 and gave the stock a “strong-buy” rating in a report on Thursday, February 4th. William Blair reiterated an “outperform” rating on shares of The Scotts Miracle-Gro in a research report on Wednesday, February 3rd. Finally, Truist upped their target price on The Scotts Miracle-Gro from $180.00 to $250.00 in a report on Thursday, January 7th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $228.00.

Shares of NYSE:SMG traded up $1.11 during mid-day trading on Friday, reaching $248.96. 1,621 shares of the company’s stock were exchanged, compared to its average volume of 412,204. The company has a debt-to-equity ratio of 2.07, a quick ratio of 0.63 and a current ratio of 1.28. The Scotts Miracle-Gro has a twelve month low of $101.27 and a twelve month high of $254.34. The business’s fifty day moving average price is $228.46 and its 200-day moving average price is $197.61. The firm has a market capitalization of $13.87 billion, a price-to-earnings ratio of 36.40 and a beta of 1.13.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 10th. Investors of record on Wednesday, February 24th were given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date was Tuesday, February 23rd. The Scotts Miracle-Gro’s dividend payout ratio (DPR) is presently 34.25%.

In other news, CEO James Hagedorn sold 14,544 shares of The Scotts Miracle-Gro stock in a transaction dated Thursday, February 4th. The stock was sold at an average price of $234.41, for a total transaction of $3,409,259.04. Also, Director Peter E. Shumlin sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, March 17th. The shares were sold at an average price of $232.56, for a total value of $348,840.00. Following the transaction, the director now owns 8,659 shares of the company’s stock, valued at $2,013,737.04. The disclosure for this sale can be found here. Insiders sold 82,784 shares of company stock worth $19,619,256 over the last quarter. Insiders own 27.17% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. Norges Bank bought a new stake in shares of The Scotts Miracle-Gro during the 4th quarter valued at $76,418,000. Federated Hermes Inc. raised its holdings in The Scotts Miracle-Gro by 44.9% during the fourth quarter. Federated Hermes Inc. now owns 839,443 shares of the basic materials company’s stock valued at $167,167,000 after acquiring an additional 259,955 shares during the period. Morgan Stanley lifted its position in shares of The Scotts Miracle-Gro by 109.2% in the fourth quarter. Morgan Stanley now owns 458,555 shares of the basic materials company’s stock valued at $91,317,000 after acquiring an additional 239,329 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of The Scotts Miracle-Gro by 104.9% in the third quarter. JPMorgan Chase & Co. now owns 179,452 shares of the basic materials company’s stock worth $27,332,000 after acquiring an additional 91,855 shares during the period. Finally, Sandbar Asset Management LLP bought a new position in shares of The Scotts Miracle-Gro in the fourth quarter worth about $11,685,000. Institutional investors and hedge funds own 63.07% of the company’s stock.

The Scotts Miracle-Gro Company Profile

The Scotts Miracle-Gro Company manufactures, markets, and sells consumer lawn and garden products in the United States and internationally. 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 The Scotts Miracle-Gro (NYSE:SMG)

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