Wall Street brokerages expect Scotts Miracle-Gro Company (The) (NYSE:SMG) to announce $396.23 million in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Scotts Miracle-Gro Company (The)’s earnings, with estimates ranging from $375.10 million to $413.40 million. Scotts Miracle-Gro Company (The) posted sales of $402.30 million during the same quarter last year, which suggests a negative year over year growth rate of 1.5%. The business is expected to announce its next quarterly earnings results on Thursday, November 2nd.

On average, analysts expect that Scotts Miracle-Gro Company (The) will report full year sales of $396.23 million for the current fiscal year, with estimates ranging from $2.63 billion to $2.96 billion. For the next year, analysts anticipate that the business will report sales of $2.80 billion per share, with estimates ranging from $2.73 billion to $2.87 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Scotts Miracle-Gro Company (The).

Scotts Miracle-Gro Company (The) (NYSE:SMG) last issued its quarterly earnings data on Tuesday, August 1st. The basic materials company reported $2.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.51 by $0.12. The business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.06 billion. Scotts Miracle-Gro Company (The) had a return on equity of 36.28% and a net margin of 7.85%. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period in the prior year, the firm earned $2.16 EPS.

SMG has been the topic of a number of research analyst reports. KeyCorp reaffirmed a “hold” rating on shares of Scotts Miracle-Gro Company (The) in a research note on Monday, August 28th. Zacks Investment Research raised Scotts Miracle-Gro Company (The) from a “sell” rating to a “hold” rating in a research note on Saturday, August 5th. Finally, BidaskClub raised Scotts Miracle-Gro Company (The) from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $100.00.

TRADEMARK VIOLATION WARNING: This piece was published by American Banking News and is the sole property of of American Banking News. If you are accessing this piece on another publication, it was illegally stolen and reposted in violation of US & international copyright and trademark legislation. The correct version of this piece can be read at https://www.americanbankingnews.com/2017/10/23/analysts-expect-scotts-miracle-gro-company-the-smg-will-announce-quarterly-sales-of-396-23-million.html.

In other Scotts Miracle-Gro Company (The) news, major shareholder Hagedorn Partnership, L.P. sold 32,000 shares of the business’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $94.37, for a total transaction of $3,019,840.00. Following the transaction, the insider now owns 15,759,274 shares of the company’s stock, valued at $1,487,202,687.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Paul Hagedorn sold 16,000 shares of the business’s stock in a transaction on Friday, September 8th. The stock was sold at an average price of $94.30, for a total value of $1,508,800.00. The disclosure for this sale can be found here. Insiders have sold 238,470 shares of company stock worth $22,837,882 in the last three months. 28.16% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Almanack Investment Partners LLC. acquired a new position in Scotts Miracle-Gro Company (The) during the second quarter worth $132,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Scotts Miracle-Gro Company (The) by 7.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,664 shares of the basic materials company’s stock worth $149,000 after buying an additional 116 shares during the last quarter. Delta Asset Management LLC TN boosted its stake in Scotts Miracle-Gro Company (The) by 3.8% during the second quarter. Delta Asset Management LLC TN now owns 2,025 shares of the basic materials company’s stock worth $181,000 after buying an additional 75 shares during the last quarter. Creative Planning boosted its stake in Scotts Miracle-Gro Company (The) by 44.5% during the second quarter. Creative Planning now owns 2,097 shares of the basic materials company’s stock worth $188,000 after buying an additional 646 shares during the last quarter. Finally, Maple Capital Management Inc. acquired a new position in Scotts Miracle-Gro Company (The) during the second quarter worth $207,000. 69.07% of the stock is currently owned by institutional investors.

Shares of Scotts Miracle-Gro Company (NYSE:SMG) opened at 98.70 on Monday. The stock has a market capitalization of $5.77 billion, a PE ratio of 26.63 and a beta of 0.39. Scotts Miracle-Gro Company has a one year low of $81.48 and a one year high of $101.00. The stock’s 50 day moving average price is $96.97 and its 200 day moving average price is $93.13.

About Scotts Miracle-Gro Company (The)

The Scotts Miracle-Gro Company (Scotts Miracle-Gro) is a manufacturer and marketer of branded consumer lawn and garden products. The Company’s segments include Global Consumer. In North America, its brands include Scotts and Turf Builder lawn and grass seed products; Miracle-Gro, Nature’s Care, Scotts, LiquaFeed and Osmocote gardening and landscape products; and Ortho, Roundup, Home Defense and Tomcat branded insect control, weed control and rodent control products.

Get a free copy of the Zacks research report on Scotts Miracle-Gro Company (The) (SMG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Scotts Miracle-Gro Company (The) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Scotts Miracle-Gro Company (The) and related companies with MarketBeat.com's FREE daily email newsletter.