Scotts Miracle-Gro Co. Announces Quarterly Dividend of $0.44 (SMG)
Scotts Miracle-Gro (NYSE:SMG) declared a quarterly dividend on Thursday, October 31st, American Banking & Market News reports. Stockholders of record on Tuesday, November 26th will be given a dividend of $0.4375 per share on Tuesday, December 10th. This represents a $1.75 dividend on an annualized basis and a yield of 2.98%.
A number of analysts have recently weighed in on SMG shares. Analysts at JPMorgan Chase & Co. upgraded shares of Scotts Miracle-Gro from a “neutral” rating to an “overweight” rating in a research note to investors on Thursday, October 17th. They now have a $65.00 price target on the stock, up previously from $54.00. On the ratings front, analysts at Zacks upgraded shares of Scotts Miracle-Gro from a “neutral” rating to an “outperform” rating in a research note to investors on Friday, October 4th. They now have a $58.70 price target on the stock. Finally, analysts at Janney Montgomery Scott initiated coverage on shares of Scotts Miracle-Gro in a research note to investors on Wednesday, September 18th. They set a “neutral” rating on the stock. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $53.14.
Scotts Miracle-Gro (NYSE:SMG) traded up 0.38% during mid-day trading on Thursday, hitting $58.72. The stock had a trading volume of 388,303 shares. Scotts Miracle-Gro has a 52 week low of $39.64 and a 52 week high of $59.09. The stock has a 50-day moving average of $56.03 and a 200-day moving average of $51.01. The company has a market cap of $3.634 billion and a price-to-earnings ratio of 26.07.
Scotts Miracle-Gro (NYSE:SMG) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $2.46 EPS for the quarter, beating the Thomson Reuters consensus estimate of $2.43 by $0.03. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the prior year, the company posted $1.60 earnings per share. The company’s quarterly revenue was up 8.8% on a year-over-year basis. On average, analysts predict that Scotts Miracle-Gro will post $2.61 earnings per share for the current fiscal year.
In other Scotts Miracle-Gro news, EVP Denise Stump sold 17,279 shares of the company’s stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $57.05, for a total transaction of $985,766.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
The Scotts Miracle-Gro Company, (NYSE:SMG) is a manufacturer and marketer of branded consumer lawn and gardens products.
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