Brokerages Anticipate Scotts Miracle-Gro Co (SMG) Will Post Quarterly Sales of $1.12 Billion

Equities analysts forecast that Scotts Miracle-Gro Co (NYSE:SMG) will post sales of $1.12 billion for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Scotts Miracle-Gro’s earnings, with the highest sales estimate coming in at $1.13 billion and the lowest estimate coming in at $1.10 billion. Scotts Miracle-Gro reported sales of $1.20 billion during the same quarter last year, which indicates a negative year over year growth rate of 6.7%. The company is scheduled to report its next quarterly earnings results on Tuesday, May 1st.

According to Zacks, analysts expect that Scotts Miracle-Gro will report full-year sales of $1.12 billion for the current year, with estimates ranging from $2.69 billion to $2.76 billion. For the next year, analysts forecast that the company will post sales of $2.81 billion per share, with estimates ranging from $2.77 billion to $2.84 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Scotts Miracle-Gro.

Scotts Miracle-Gro (NYSE:SMG) last announced its quarterly earnings results on Tuesday, January 30th. The basic materials company reported ($1.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.92) by ($0.16). Scotts Miracle-Gro had a return on equity of 38.33% and a net margin of 9.11%. The business had revenue of $221.50 million during the quarter, compared to the consensus estimate of $237.21 million. During the same quarter last year, the company earned ($0.96) earnings per share. The firm’s revenue was down 10.3% compared to the same quarter last year.

SMG has been the subject of several recent analyst reports. KeyCorp restated a “hold” rating on shares of Scotts Miracle-Gro in a report on Monday, October 16th. JPMorgan Chase & Co. downgraded Scotts Miracle-Gro from an “overweight” rating to a “neutral” rating and set a $99.00 price target for the company. in a report on Wednesday, November 8th. Bank of America increased their price target on Scotts Miracle-Gro from $107.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, November 8th. SunTrust Banks restated a “hold” rating and issued a $95.00 price target on shares of Scotts Miracle-Gro in a report on Friday, November 10th. Finally, Zacks Investment Research upgraded Scotts Miracle-Gro from a “sell” rating to a “hold” rating and set a $121.00 price target for the company in a report on Wednesday, January 10th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Scotts Miracle-Gro has an average rating of “Hold” and a consensus target price of $104.25.

In related news, Director Katherine Littlefield Hagedorn sold 2,892 shares of the stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $89.50, for a total transaction of $258,834.00. Following the completion of the transaction, the director now directly owns 9,043 shares in the company, valued at $809,348.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Ivan C. Smith sold 6,587 shares of the stock in a transaction dated 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 currently owned by company insiders.

Large investors have recently bought and sold shares of the stock. Caxton Associates LP bought a new position in shares of Scotts Miracle-Gro during the third quarter worth about $584,000. Assenagon Asset Management S.A. bought a new position in shares of Scotts Miracle-Gro during the third quarter worth about $487,000. Magnetar Financial LLC bought a new position in shares of Scotts Miracle-Gro during the third quarter worth about $2,218,000. California Public Employees Retirement System grew its holdings in shares of Scotts Miracle-Gro by 10.7% during the third quarter. California Public Employees Retirement System now owns 133,233 shares of the basic materials company’s stock worth $12,969,000 after buying an additional 12,833 shares in the last quarter. Finally, Stifel Financial Corp boosted its position in Scotts Miracle-Gro by 16.0% during the third quarter. Stifel Financial Corp now owns 38,950 shares of the basic materials company’s stock valued at $3,793,000 after purchasing an additional 5,375 shares during the last quarter. Institutional investors and hedge funds own 69.18% of the company’s stock.

Shares of Scotts Miracle-Gro (SMG) opened at $89.13 on Wednesday. Scotts Miracle-Gro has a fifty-two week low of $81.48 and a fifty-two week high of $110.12. The stock has a market capitalization of $5,120.00, a PE ratio of 22.39, a price-to-earnings-growth ratio of 1.96 and a beta of 0.20. The company has a quick ratio of 0.61, a current ratio of 2.09 and a debt-to-equity ratio of 3.34.

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 9th. Shareholders of record on Friday, February 23rd will be issued a $0.53 dividend. The ex-dividend date is Thursday, February 22nd. This represents a $2.12 annualized dividend and a dividend yield of 2.38%. Scotts Miracle-Gro’s dividend payout ratio (DPR) is currently 53.27%.

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Scotts Miracle-Gro Company Profile

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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