Scotts Miracle-Gro (NYSE:SMG) Issues FY 2022 Earnings Guidance

Scotts Miracle-Gro (NYSE:SMGGet Rating) issued an update on its FY 2022 earnings guidance on Wednesday morning. The company provided EPS guidance of $4.50-$5.00 for the period, compared to the consensus EPS estimate of $7.01. The company issued revenue guidance of -.

NYSE SMG opened at $85.33 on Wednesday. The stock has a 50-day simple moving average of $101.70 and a 200 day simple moving average of $128.56. The company has a market capitalization of $4.73 billion, a PE ratio of 11.98 and a beta of 1.19. The company has a current ratio of 2.21, a quick ratio of 1.13 and a debt-to-equity ratio of 3.44. Scotts Miracle-Gro has a 12 month low of $84.01 and a 12 month high of $198.18.

Scotts Miracle-Gro (NYSE:SMGGet Rating) last announced its quarterly earnings results on Tuesday, May 3rd. The basic materials company reported $5.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.69 by $0.34. Scotts Miracle-Gro had a return on equity of 42.22% and a net margin of 8.81%. The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same period in the prior year, the company earned $5.64 earnings per share. The company’s revenue for the quarter was down 8.2% compared to the same quarter last year. As a group, sell-side analysts predict that Scotts Miracle-Gro will post 4.8 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, June 10th. Shareholders of record on Friday, May 27th were issued a $0.66 dividend. The ex-dividend date of this dividend was Thursday, May 26th. This represents a $2.64 annualized dividend and a dividend yield of 3.09%. Scotts Miracle-Gro’s dividend payout ratio (DPR) is currently 37.08%.

Several equities research analysts have issued reports on the company. StockNews.com downgraded Scotts Miracle-Gro from a hold rating to a sell rating in a report on Saturday, May 21st. JPMorgan Chase & Co. cut Scotts Miracle-Gro from an overweight rating to a neutral rating and reduced their price objective for the stock from $130.00 to $95.00 in a research report on Thursday, June 9th. Raymond James reduced their price objective on Scotts Miracle-Gro from $125.00 to $110.00 in a research report on Thursday, June 9th. Stifel Nicolaus reduced their price objective on Scotts Miracle-Gro from $116.00 to $93.00 in a research report on Tuesday. Finally, Wells Fargo & Company reduced their price objective on Scotts Miracle-Gro from $130.00 to $115.00 and set an overweight rating for the company in a research report on Thursday, June 9th. One analyst has rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Hold and a consensus target price of $136.25.

In other news, Director Stephen L. Johnson sold 2,305 shares of the stock in a transaction that occurred on Wednesday, May 4th. The stock was sold at an average price of $113.36, for a total transaction of $261,294.80. Following the transaction, the director now owns 20,233 shares in the company, valued at $2,293,612.88. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO James Hagedorn sold 60,000 shares of the stock in a transaction that occurred on Friday, May 13th. The stock was sold at an average price of $97.74, for a total value of $5,864,400.00. Following the transaction, 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. Over the last ninety days, insiders sold 79,805 shares of company stock valued at $7,848,045. Insiders own 27.31% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Canada Pension Plan Investment Board bought a new position in Scotts Miracle-Gro during the 1st quarter worth $27,000. Covestor Ltd increased its stake in Scotts Miracle-Gro by 144.1% during the 1st quarter. Covestor Ltd now owns 764 shares of the basic materials company’s stock worth $94,000 after acquiring an additional 451 shares during the period. Point72 Hong Kong Ltd acquired a new stake in shares of Scotts Miracle-Gro in the 1st quarter valued at $205,000. Boston Private Wealth LLC acquired a new stake in shares of Scotts Miracle-Gro in the 4th quarter valued at $234,000. Finally, Cim Investment Management Inc. boosted its holdings in shares of Scotts Miracle-Gro by 22.0% in the 1st quarter. Cim Investment Management Inc. now owns 2,021 shares of the basic materials company’s stock valued at $249,000 after purchasing an additional 365 shares in the last quarter. Institutional investors own 62.23% of the company’s stock.

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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