The Scotts Miracle-Gro Company (NYSE:SMG) Expected to Post Earnings of $3.44 Per Share

Wall Street analysts expect The Scotts Miracle-Gro Company (NYSE:SMGGet Rating) to report earnings per share (EPS) of $3.44 for the current quarter, Zacks reports. Five analysts have issued estimates for Scotts Miracle-Gro’s earnings. The lowest EPS estimate is $3.00 and the highest is $3.76. Scotts Miracle-Gro posted earnings per share of $3.98 during the same quarter last year, which indicates a negative year-over-year growth rate of 13.6%. The business is scheduled to issue its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Scotts Miracle-Gro will report full-year earnings of $7.00 per share for the current fiscal year, with EPS estimates ranging from $6.50 to $7.88. For the next financial year, analysts forecast that the company will post earnings of $7.90 per share, with EPS estimates ranging from $7.15 to $9.00. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that follow Scotts Miracle-Gro.

Scotts Miracle-Gro (NYSE:SMGGet Rating) last posted its earnings results on Tuesday, May 3rd. The basic materials company reported $5.03 EPS for the quarter, beating analysts’ consensus estimates of $4.69 by $0.34. Scotts Miracle-Gro had a net margin of 8.81% and a return on equity of 42.22%. The company had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter in the prior year, the company posted $5.64 earnings per share. Scotts Miracle-Gro’s revenue for the quarter was down 8.2% compared to the same quarter last year.

A number of research analysts have issued reports on SMG shares. Barclays cut shares of Scotts Miracle-Gro from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $150.00 to $110.00 in a report on Thursday, April 21st. StockNews.com raised shares of Scotts Miracle-Gro from a “sell” rating to a “hold” rating in a report on Friday, May 13th. JPMorgan Chase & Co. raised shares of Scotts Miracle-Gro from a “neutral” rating to an “overweight” rating and reduced their target price for the stock from $150.00 to $130.00 in a report on Wednesday, May 4th. They noted that the move was a valuation call. Wells Fargo & Company reduced their target price on shares of Scotts Miracle-Gro from $155.00 to $145.00 in a report on Wednesday, May 4th. Finally, Stifel Nicolaus cut shares of Scotts Miracle-Gro from a “buy” rating to a “hold” rating and reduced their target price for the stock from $130.00 to $116.00 in a report on Wednesday, May 4th. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Scotts Miracle-Gro presently has a consensus rating of “Buy” and a consensus target price of $160.11.

In other news, Director Stephen L. Johnson sold 2,305 shares of Scotts Miracle-Gro 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 sale, the director now owns 20,233 shares in the company, valued at $2,293,612.88. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO James Hagedorn sold 60,000 shares of Scotts Miracle-Gro stock in a transaction dated Friday, May 13th. The shares were sold at an average price of $97.74, for a total transaction of $5,864,400.00. Following the completion of the sale, the chief executive officer now owns 261,816 shares in the company, valued at approximately $25,589,895.84. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 79,805 shares of company stock worth $7,848,045. 27.31% of the stock is owned by company insiders.

Several large investors have recently bought and sold shares of SMG. Morgan Stanley lifted its stake in shares of Scotts Miracle-Gro by 61.7% in the second quarter. Morgan Stanley now owns 378,698 shares of the basic materials company’s stock worth $72,680,000 after buying an additional 144,478 shares in the last quarter. Teacher Retirement System of Texas raised its stake in Scotts Miracle-Gro by 22.8% during the third quarter. Teacher Retirement System of Texas now owns 6,736 shares of the basic materials company’s stock worth $986,000 after purchasing an additional 1,250 shares during the period. Creative Planning raised its stake in Scotts Miracle-Gro by 1.6% during the third quarter. Creative Planning now owns 4,033 shares of the basic materials company’s stock worth $590,000 after purchasing an additional 62 shares during the period. Mutual of America Capital Management LLC raised its stake in Scotts Miracle-Gro by 2.4% during the third quarter. Mutual of America Capital Management LLC now owns 35,915 shares of the basic materials company’s stock worth $5,257,000 after purchasing an additional 837 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in Scotts Miracle-Gro by 24.1% during the third quarter. Goldman Sachs Group Inc. now owns 314,891 shares of the basic materials company’s stock worth $46,088,000 after purchasing an additional 61,180 shares during the period. 62.23% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:SMG opened at $89.13 on Thursday. The firm has a 50 day moving average of $114.41 and a 200 day moving average of $138.69. The stock has a market capitalization of $4.94 billion, a price-to-earnings ratio of 12.52 and a beta of 1.18. Scotts Miracle-Gro has a 52 week low of $88.88 and a 52 week high of $221.66. The company has a quick ratio of 1.13, a current ratio of 2.21 and a debt-to-equity ratio of 3.44.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 10th. Investors of record on Friday, May 27th will be given a dividend of $0.66 per share. The ex-dividend date of this dividend is Thursday, May 26th. This represents a $2.64 annualized dividend and a yield of 2.96%. Scotts Miracle-Gro’s dividend payout ratio is presently 37.08%.

About Scotts Miracle-Gro (Get Rating)

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

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