Zacks: Analysts Anticipate Scotts Miracle-Gro Co (SMG) Will Announce Quarterly Sales of $235.82 Million

Analysts expect Scotts Miracle-Gro Co (NYSE:SMG) to post sales of $235.82 million for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Scotts Miracle-Gro’s earnings, with the lowest sales estimate coming in at $221.30 million and the highest estimate coming in at $250.38 million. Scotts Miracle-Gro posted sales of $246.80 million during the same quarter last year, which suggests a negative year over year growth rate of 4.4%. The business is expected to report its next earnings report on Tuesday, January 30th.

According to Zacks, analysts expect that Scotts Miracle-Gro will report full year sales of $235.82 million for the current year, with estimates ranging from $2.76 billion to $2.82 billion. For the next fiscal year, analysts forecast that the business will report sales of $2.88 billion per share, with estimates ranging from $2.84 billion to $2.92 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Scotts Miracle-Gro.

Scotts Miracle-Gro (NYSE:SMG) last issued its earnings results on Tuesday, November 7th. The basic materials company reported ($0.26) EPS for the quarter, topping the consensus estimate of ($0.30) by $0.04. The business had revenue of $376.70 million during the quarter, compared to the consensus estimate of $368.50 million. Scotts Miracle-Gro had a return on equity of 37.81% and a net margin of 7.51%. The firm’s revenue was up 8.0% compared to the same quarter last year. During the same quarter last year, the company earned ($0.30) EPS.

SMG has been the topic of a number of research reports. JPMorgan Chase & Co. cut Scotts Miracle-Gro from an “overweight” rating to a “neutral” rating and set a $99.00 price objective on the stock. in a report on Wednesday, November 8th. Bank of America raised their price objective on Scotts Miracle-Gro from $107.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, November 8th. KeyCorp reissued a “hold” rating on shares of Scotts Miracle-Gro in a report on Monday, October 16th. Zacks Investment Research cut Scotts Miracle-Gro from a “hold” rating to a “sell” rating in a report on Wednesday, October 4th. Finally, SunTrust Banks reissued a “hold” rating and set a $95.00 price objective on shares of Scotts Miracle-Gro in a report on Friday, November 10th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $101.33.

Shares of Scotts Miracle-Gro (NYSE:SMG) traded down $2.49 on Friday, hitting $106.17. The stock had a trading volume of 1,229,600 shares, compared to its average volume of 956,467. The company has a market cap of $6,150.00, a P/E ratio of 32.67, a PEG ratio of 2.57 and a beta of 0.36. The company has a current ratio of 1.62, a quick ratio of 0.87 and a debt-to-equity ratio of 1.90. Scotts Miracle-Gro has a 12-month low of $81.48 and a 12-month high of $109.77.

The business also recently declared a quarterly dividend, which was paid on Friday, December 8th. Shareholders of record on Friday, November 24th were paid a $0.53 dividend. The ex-dividend date was Wednesday, November 22nd. This represents a $2.12 dividend on an annualized basis and a yield of 2.00%. Scotts Miracle-Gro’s dividend payout ratio (DPR) is currently 65.23%.

In other Scotts Miracle-Gro news, Director Nancy G. Mistretta sold 5,000 shares of Scotts Miracle-Gro stock in a transaction that occurred on Friday, October 13th. The stock was sold at an average price of $100.11, for a total value of $500,550.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Ivan C. Smith sold 6,587 shares of Scotts Miracle-Gro stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $97.74, for a total value of $643,813.38. The disclosure for this sale can be found here. 29.14% of the stock is owned by insiders.

Hedge funds have recently modified their holdings of the company. Almanack Investment Partners LLC. bought a new stake in shares of Scotts Miracle-Gro in the 2nd quarter worth approximately $132,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Scotts Miracle-Gro by 7.5% in the 2nd 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. First Allied Advisory Services Inc. bought a new stake in shares of Scotts Miracle-Gro in the 3rd quarter worth approximately $226,000. Private Advisor Group LLC grew its position in shares of Scotts Miracle-Gro by 9.0% in the 2nd quarter. Private Advisor Group LLC now owns 2,620 shares of the basic materials company’s stock worth $239,000 after buying an additional 216 shares during the last quarter. Finally, Cetera Investment Advisers bought a new stake in shares of Scotts Miracle-Gro in the 2nd quarter worth approximately $247,000. Hedge funds and other institutional investors own 69.18% of the company’s stock.

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About Scotts Miracle-Gro

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.

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

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