Analysts’ Weekly Ratings Updates for Scotts Miracle-Gro (SMG)

Scotts Miracle-Gro (NYSE: SMG) recently received a number of ratings updates from brokerages and research firms:

  • 5/4/2022 – Scotts Miracle-Gro was upgraded by analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating. They now have a $130.00 price target on the stock, down previously from $150.00. They noted that the move was a valuation call. They noted that the move was a valuation call.
  • 5/4/2022 – Scotts Miracle-Gro was downgraded by analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating. They now have a $116.00 price target on the stock, down previously from $130.00.
  • 5/4/2022 – Scotts Miracle-Gro had its price target lowered by analysts at Wells Fargo & Company from $155.00 to $145.00.
  • 4/21/2022 – Scotts Miracle-Gro was downgraded by analysts at Barclays PLC from an “overweight” rating to an “equal weight” rating. They now have a $110.00 price target on the stock, down previously from $150.00.
  • 4/12/2022 – Scotts Miracle-Gro was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. They now have a $123.00 price target on the stock. According to Zacks, “Earnings estimates for Scotts Miracle-Gro for the second quarter have been decreasing over the past month. The company is expected to benefit from synergies of the Sunlight Supply acquisition. The buyout provides it with a modern and cost-efficient supply chain. The company’s prospects in the hydroponic products appear bright in the long term. It is likely to gain from long-term prospects and cost-saving opportunities associated with the Hawthorne division. It is witnessing strong sales in the unit. Moreover, the company is gaining from the new line of organic plant food products. However, the oversupply of cannabis is likely to exert pressure on growth in the Hawthorne segment. High debt and increased commodity costs are other concerns. It has also underperformed the industry over a year.”
  • 3/31/2022 – Scotts Miracle-Gro is now covered by analysts at StockNews.com. They set a “sell” rating on the stock.
  • 3/22/2022 – Scotts Miracle-Gro had its price target lowered by analysts at Truist Financial Co. from $225.00 to $185.00.
  • 3/17/2022 – Scotts Miracle-Gro had its price target lowered by analysts at Wells Fargo & Company from $170.00 to $160.00. They now have an “overweight” rating on the stock.
  • 3/14/2022 – Scotts Miracle-Gro had its price target lowered by analysts at Raymond James from $185.00 to $150.00. They now have a “strong-buy” rating on the stock.

Shares of NYSE:SMG traded down $1.55 during midday trading on Tuesday, hitting $101.34. The company’s stock had a trading volume of 2,207 shares, compared to its average volume of 504,201. The stock has a market capitalization of $5.63 billion, a price-to-earnings ratio of 14.23 and a beta of 1.18. The stock’s 50 day simple moving average is $118.47 and its 200 day simple moving average is $140.83. The Scotts Miracle-Gro Company has a fifty-two week low of $98.61 and a fifty-two week high of $247.84. The company has a debt-to-equity ratio of 3.44, a quick ratio of 0.69 and a current ratio of 2.21.

Scotts Miracle-Gro (NYSE:SMGGet Rating) last issued its quarterly earnings results on Tuesday, May 3rd. The basic materials company reported $5.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.69 by $0.34. The company had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.68 billion. Scotts Miracle-Gro had a return on equity of 42.22% and a net margin of 8.81%. The firm’s revenue was down 8.2% compared to the same quarter last year. During the same period last year, the business posted $5.64 earnings per share. As a group, analysts anticipate that The Scotts Miracle-Gro Company will post 7 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 10th. Investors of record on Friday, May 27th will be paid a $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 2.61%. The ex-dividend date is Thursday, May 26th. Scotts Miracle-Gro’s payout ratio is presently 37.08%.

In related news, Director Stephen L. Johnson sold 2,305 shares of the stock in a transaction dated Wednesday, May 4th. The shares were sold at an average price of $113.36, for a total value of $261,294.80. Following the completion of the sale, the director now owns 20,233 shares in the company, valued at $2,293,612.88. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 27.31% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of SMG. First Eagle Investment Management LLC increased its holdings in shares of Scotts Miracle-Gro by 159.4% during the fourth quarter. First Eagle Investment Management LLC now owns 1,177,704 shares of the basic materials company’s stock worth $189,610,000 after buying an additional 723,672 shares in the last quarter. Norges Bank acquired a new stake in shares of Scotts Miracle-Gro during the fourth quarter worth approximately $55,114,000. Marshall Wace LLP increased its holdings in shares of Scotts Miracle-Gro by 341.0% in the fourth quarter. Marshall Wace LLP now owns 327,531 shares of the basic materials company’s stock valued at $52,734,000 after purchasing an additional 253,258 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of Scotts Miracle-Gro by 3.8% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,942,266 shares of the basic materials company’s stock valued at $795,708,000 after purchasing an additional 182,828 shares in the last quarter. Finally, Clark Capital Management Group Inc. acquired a new stake in shares of Scotts Miracle-Gro in the fourth quarter valued at approximately $26,901,000. 62.23% of the stock is owned by institutional investors.

The Scotts Miracle-Gro Company engages in the manufacture, marketing, and sale of products for lawn, garden care, and indoor and hydroponic gardening in the United States and internationally. The company operates through three segments: U.S. Consumer, Hawthorne, and Other. It provides lawn care products comprising lawn fertilizers, grass seed products, spreaders, other durable products, and outdoor cleaners, as well as lawn-related weed, pest, and disease control products; gardening and landscape products include water-soluble and continuous-release plant foods, potting mixes and garden soils, mulch and decorative groundcover products, plant-related pest and disease control products, organic garden products, and lives goods and seeding solutions.

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