Brokers Issue Forecasts for Scotts Miracle-Gro Co’s FY2020 Earnings (NYSE:SMG)

Scotts Miracle-Gro Co (NYSE:SMG) – Equities research analysts at William Blair boosted their FY2020 earnings per share (EPS) estimates for Scotts Miracle-Gro in a research report issued to clients and investors on Wednesday, November 6th. William Blair analyst J. Andersen now forecasts that the basic materials company will post earnings per share of $4.95 for the year, up from their previous forecast of $4.75. William Blair also issued estimates for Scotts Miracle-Gro’s FY2021 earnings at $5.35 EPS.

A number of other research analysts have also weighed in on SMG. Bank of America raised shares of Scotts Miracle-Gro from a “neutral” rating to a “buy” rating and set a $108.00 target price for the company in a research report on Friday, October 25th. ValuEngine raised shares of Scotts Miracle-Gro from a “sell” rating to a “hold” rating in a research report on Friday. SunTrust Banks boosted their target price on shares of Scotts Miracle-Gro to $120.00 and gave the stock a “positive” rating in a research report on Thursday, August 1st. Finally, Zacks Investment Research lowered shares of Scotts Miracle-Gro from a “buy” rating to a “hold” rating and set a $117.00 target price for the company. in a research report on Tuesday, October 1st. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $98.42.

Shares of SMG stock traded up $2.68 on Friday, hitting $104.64. The company’s stock had a trading volume of 340,460 shares, compared to its average volume of 482,188. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.45 and a quick ratio of 0.90. Scotts Miracle-Gro has a fifty-two week low of $57.96 and a fifty-two week high of $114.63. The firm’s fifty day moving average price is $100.90 and its 200-day moving average price is $99.14. The stock has a market capitalization of $5.40 billion, a price-to-earnings ratio of 23.41, a P/E/G ratio of 1.70 and a beta of 0.79.

Scotts Miracle-Gro (NYSE:SMG) last posted its quarterly earnings results on Wednesday, November 6th. The basic materials company reported ($0.91) EPS for the quarter, missing the consensus estimate of ($0.87) by ($0.04). Scotts Miracle-Gro had a net margin of 12.02% and a return on equity of 51.15%. The company had revenue of $497.70 million for the quarter, compared to analysts’ expectations of $451.49 million. During the same quarter in the prior year, the firm earned ($0.75) earnings per share. The company’s revenue was up 14.7% on a year-over-year basis.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th will be given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date of this dividend is Monday, November 25th. Scotts Miracle-Gro’s dividend payout ratio is currently 51.90%.

In other news, Director Thomas N. Kelly, Jr. sold 6,167 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $111.91, for a total transaction of $690,148.97. Following the completion of the transaction, the director now owns 18,811 shares of the company’s stock, valued at $2,105,139.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Nancy G. Mistretta sold 2,500 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $107.98, for a total transaction of $269,950.00. Following the transaction, the director now directly owns 18,454 shares of the company’s stock, valued at approximately $1,992,662.92. The disclosure for this sale can be found here. 30.37% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. First Allied Advisory Services Inc. increased its stake in Scotts Miracle-Gro by 11.7% in the third quarter. First Allied Advisory Services Inc. now owns 4,824 shares of the basic materials company’s stock valued at $492,000 after acquiring an additional 507 shares during the period. D.A. Davidson & CO. increased its stake in Scotts Miracle-Gro by 3.8% in the third quarter. D.A. Davidson & CO. now owns 34,741 shares of the basic materials company’s stock valued at $3,537,000 after acquiring an additional 1,259 shares during the period. BBVA USA Bancshares Inc. increased its stake in Scotts Miracle-Gro by 16.1% in the third quarter. BBVA USA Bancshares Inc. now owns 29,820 shares of the basic materials company’s stock valued at $3,036,000 after acquiring an additional 4,134 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Scotts Miracle-Gro by 39.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 332,437 shares of the basic materials company’s stock valued at $33,849,000 after acquiring an additional 94,800 shares during the period. Finally, Vestmark Advisory Solutions Inc. increased its stake in Scotts Miracle-Gro by 13.9% in the third quarter. Vestmark Advisory Solutions Inc. now owns 15,972 shares of the basic materials company’s stock valued at $1,626,000 after acquiring an additional 1,949 shares during the period. 66.52% of the stock is currently owned by institutional investors and hedge funds.

Scotts Miracle-Gro Company Profile

The Scotts Miracle-Gro Company manufactures, markets, and sells consumer lawn and garden products in the United States and internationally. The company operates through three segments: U.S. Consumer, Hawthorne, and Other. It offers lawn care products, such as 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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Earnings History and Estimates for Scotts Miracle-Gro (NYSE:SMG)

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