Scotts Miracle-Gro (SMG) Set to Announce Earnings on Wednesday

Scotts Miracle-Gro (NYSE:SMG – Get Rating) is scheduled to post its quarterly earnings results before the market opens on Wednesday, February 1st. Analysts expect Scotts Miracle-Gro to post earnings of ($1.36) per share for the quarter. Individual that wish to listen to the company’s earnings conference call can do so using this link.

Scotts Miracle-Gro (NYSE:SMG – Get Rating) last issued its earnings results on Wednesday, November 2nd. The basic materials company reported ($2.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.02) by ($0.02). The firm had revenue of $493.60 million during the quarter, compared to the consensus estimate of $527.42 million. Scotts Miracle-Gro had a negative net margin of 11.15% and a positive return on equity of 38.78%. On average, analysts expect Scotts Miracle-Gro to post $4 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Scotts Miracle-Gro Stock Performance

Shares of SMG opened at $62.34 on Wednesday. The firm has a market cap of $3.46 billion, a PE ratio of -7.85 and a beta of 1.49. The stock’s fifty day moving average price is $54.27 and its two-hundred day moving average price is $59.84. The company has a debt-to-equity ratio of 19.13, a current ratio of 2.06 and a quick ratio of 0.66. Scotts Miracle-Gro has a 1 year low of $39.06 and a 1 year high of $156.00.

Scotts Miracle-Gro Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 9th. Shareholders of record on Monday, November 28th were paid a $0.66 dividend. The ex-dividend date of this dividend was Friday, November 25th. This represents a $2.64 annualized dividend and a dividend yield of 4.23%. Scotts Miracle-Gro’s payout ratio is presently -33.25%.

Insider Buying and Selling

In related news, CEO James Hagedorn sold 50,000 shares of the business’s stock in a transaction dated Tuesday, January 17th. The stock was sold at an average price of $60.77, for a total transaction of $3,038,500.00. Following the completion of the transaction, the chief executive officer now directly owns 212,402 shares in the company, valued at $12,907,669.54. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, CEO James Hagedorn sold 50,000 shares of the company’s stock in a transaction dated Tuesday, January 17th. The stock was sold at an average price of $60.77, for a total value of $3,038,500.00. Following the completion of the transaction, the chief executive officer now directly owns 212,402 shares in the company, valued at approximately $12,907,669.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Hagedorn Partnership, L.P. sold 65,742 shares of the company’s stock in a transaction dated Monday, November 28th. The stock was sold at an average price of $53.69, for a total value of $3,529,687.98. Following the completion of the transaction, the director now owns 14,206,481 shares of the company’s stock, valued at $762,745,964.89. The disclosure for this sale can be found here. Insiders sold a total of 195,842 shares of company stock worth $11,174,189 over the last ninety days. 27.28% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Scotts Miracle-Gro

Hedge funds and other institutional investors have recently modified their holdings of the company. Canada Pension Plan Investment Board purchased a new position in shares of Scotts Miracle-Gro in the 1st quarter worth about $27,000. Covestor Ltd lifted its stake in shares of Scotts Miracle-Gro by 144.1% in the 1st quarter. Covestor Ltd now owns 764 shares of the basic materials company’s stock valued at $94,000 after acquiring an additional 451 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of Scotts Miracle-Gro in the 1st quarter valued at about $205,000. Cim Investment Management Inc. lifted its stake 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 acquiring an additional 365 shares during the last quarter. Finally, Captrust Financial Advisors lifted its stake in shares of Scotts Miracle-Gro by 5.7% in the 2nd quarter. Captrust Financial Advisors now owns 3,314 shares of the basic materials company’s stock valued at $262,000 after acquiring an additional 178 shares during the last quarter. 68.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SMG. Barclays upgraded Scotts Miracle-Gro from an “equal weight” rating to an “overweight” rating and set a $75.00 price target for the company in a research report on Tuesday, November 8th. Wells Fargo & Company reduced their price target on Scotts Miracle-Gro from $75.00 to $50.00 and set an “equal weight” rating for the company in a research report on Monday, October 3rd. Truist Financial reduced their price target on Scotts Miracle-Gro from $85.00 to $50.00 in a research report on Thursday, November 3rd. StockNews.com began coverage on Scotts Miracle-Gro in a research report on Wednesday, October 12th. They issued a “sell” rating for the company. Finally, JPMorgan Chase & Co. reduced their price target on Scotts Miracle-Gro from $80.00 to $45.00 and set a “neutral” rating for the company in a research report on Thursday, November 3rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $58.57.

Scotts Miracle-Gro Company Profile

(Get Rating)

The Scotts Miracle-Gro Company is involved in the manufacture, marketing, and sale of products for lawn, garden care, and indoor and hydroponic gardening in the United States and internationally. It operates through three segments: U.S. Consumer, Hawthorne, and Other. The company 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 comprising 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 live goods and seeding solutions.