Zacks: Brokerages Expect Scotts Miracle-Gro Co (SMG) Will Announce Earnings of -$1.24 Per Share

Equities analysts expect that Scotts Miracle-Gro Co (NYSE:SMG) will announce earnings of ($1.24) per share for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Scotts Miracle-Gro’s earnings. The lowest EPS estimate is ($1.39) and the highest is ($1.07). Scotts Miracle-Gro reported earnings per share of ($1.08) in the same quarter last year, which indicates a negative year-over-year growth rate of 14.8%. The business is scheduled to announce its next earnings report on Tuesday, January 29th.

According to Zacks, analysts expect that Scotts Miracle-Gro will report full year earnings of $4.18 per share for the current year, with EPS estimates ranging from $4.10 to $4.25. For the next fiscal year, analysts anticipate that the business will post earnings of $4.61 per share, with EPS estimates ranging from $4.48 to $4.75. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that cover Scotts Miracle-Gro.

Scotts Miracle-Gro (NYSE:SMG) last issued its earnings results on Wednesday, November 7th. The basic materials company reported ($0.75) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.67) by ($0.08). The company had revenue of $434.00 million during the quarter, compared to analysts’ expectations of $441.10 million. Scotts Miracle-Gro had a net margin of 2.39% and a return on equity of 44.65%. The firm’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.26) earnings per share.

Several equities analysts have recently commented on SMG shares. ValuEngine raised Scotts Miracle-Gro from a “sell” rating to a “hold” rating in a research note on Friday, September 21st. Zacks Investment Research raised Scotts Miracle-Gro from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 18th. Bank of America raised Scotts Miracle-Gro from an “underperform” rating to a “neutral” rating and set a $72.00 price target on the stock in a research note on Wednesday, October 24th. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. decreased their price target on Scotts Miracle-Gro from $85.00 to $70.00 and set an “underweight” rating on the stock in a research note on Friday, August 24th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $85.00.

In other Scotts Miracle-Gro news, Director Nancy G. Mistretta sold 6,300 shares of the company’s stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $76.93, for a total transaction of $484,659.00. Following the sale, the director now owns 20,824 shares in the company, valued at approximately $1,601,990.32. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 29.14% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of SMG. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new position in shares of Scotts Miracle-Gro in the 2nd quarter valued at about $112,000. Stratos Wealth Partners LTD. purchased a new position in shares of Scotts Miracle-Gro in the 3rd quarter valued at about $145,000. Verition Fund Management LLC purchased a new position in shares of Scotts Miracle-Gro in the 3rd quarter valued at about $228,000. Stephens Inc. AR purchased a new position in shares of Scotts Miracle-Gro in the 2nd quarter valued at about $256,000. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Scotts Miracle-Gro by 42.7% in the 3rd quarter. Tower Research Capital LLC TRC now owns 3,406 shares of the basic materials company’s stock valued at $268,000 after acquiring an additional 1,019 shares during the last quarter. Institutional investors own 63.80% of the company’s stock.

Shares of Scotts Miracle-Gro stock opened at $69.54 on Friday. Scotts Miracle-Gro has a 52 week low of $65.20 and a 52 week high of $110.12. The firm has a market capitalization of $4.01 billion, a PE ratio of 18.74, a price-to-earnings-growth ratio of 1.91 and a beta of 0.45. The company has a current ratio of 1.45, a quick ratio of 0.66 and a debt-to-equity ratio of 5.24.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Monday, November 26th will be issued a dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, November 23rd. This represents a $2.20 annualized dividend and a yield of 3.16%. Scotts Miracle-Gro’s dividend payout ratio (DPR) is 59.30%.

About Scotts Miracle-Gro

The Scotts Miracle-Gro Company manufactures, markets, and sells consumer lawn and garden products. The company operates through three segments: U.S. Consumer, Hawthorne, and Other. It offers lawn care products, including 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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