Q3 2024 EPS Estimates for The Scotts Miracle-Gro Company Decreased by Analyst (NYSE:SMG)

The Scotts Miracle-Gro Company (NYSE:SMG) – Stock analysts at William Blair lowered their Q3 2024 earnings per share estimates for shares of Scotts Miracle-Gro in a report released on Wednesday, May 1st. William Blair analyst J. Andersen now anticipates that the basic materials company will earn $2.03 per share for the quarter, down from their previous forecast of $2.35. The consensus estimate for Scotts Miracle-Gro’s current full-year earnings is $2.65 per share. William Blair also issued estimates for Scotts Miracle-Gro’s Q4 2024 earnings at ($1.63) EPS.

Scotts Miracle-Gro (NYSE:SMG) last announced its quarterly earnings results on Wednesday, May 1st. The basic materials company reported $3.69 EPS for the quarter, beating the consensus estimate of $3.33 by $0.36. The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Scotts Miracle-Gro had a negative return on equity of 20.97% and a negative net margin of 10.14%. The firm’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.78 EPS.

Several other research firms have also issued reports on SMG. Wells Fargo & Company reduced their price objective on shares of Scotts Miracle-Gro from $85.00 to $83.00 and set an “overweight” rating for the company in a research note on Thursday. Truist Financial downgraded Scotts Miracle-Gro from a “buy” rating to a “hold” rating and upped their price target for the stock from $65.00 to $75.00 in a research note on Friday, April 5th. Stifel Nicolaus increased their price objective on Scotts Miracle-Gro from $55.00 to $65.00 and gave the company a “hold” rating in a report on Monday, March 4th. StockNews.com upgraded Scotts Miracle-Gro from a “sell” rating to a “hold” rating in a report on Thursday, April 4th. Finally, JPMorgan Chase & Co. increased their price target on Scotts Miracle-Gro from $70.00 to $85.00 and gave the company an “overweight” rating in a report on Friday, April 5th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $73.00.

Scotts Miracle-Gro Stock Up 2.7 %

SMG stock opened at $70.54 on Monday. The firm has a 50 day moving average of $69.06 and a two-hundred day moving average of $61.18. Scotts Miracle-Gro has a 12 month low of $43.67 and a 12 month high of $77.95. The company has a market capitalization of $4.00 billion, a price-to-earnings ratio of -11.30 and a beta of 1.70.

Scotts Miracle-Gro Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 24th will be given a dividend of $0.66 per share. The ex-dividend date is Thursday, May 23rd. This represents a $2.64 annualized dividend and a dividend yield of 3.74%. Scotts Miracle-Gro’s dividend payout ratio is presently -42.31%.

Insider Activity at Scotts Miracle-Gro

In other news, Director Stephen L. Johnson sold 1,394 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $57.35, for a total value of $79,945.90. Following the sale, the director now owns 22,918 shares in the company, valued at $1,314,347.30. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Hagedorn Partnership, L.P. sold 86,356 shares of Scotts Miracle-Gro stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $65.41, for a total transaction of $5,648,545.96. Following the sale, the director now directly owns 13,777,012 shares of the company’s stock, valued at $901,154,354.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Stephen L. Johnson sold 1,394 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $57.35, for a total value of $79,945.90. Following the completion of the transaction, the director now directly owns 22,918 shares of the company’s stock, valued at approximately $1,314,347.30. The disclosure for this sale can be found here. Insiders sold a total of 102,750 shares of company stock worth $6,604,492 in the last 90 days. 26.46% of the stock is owned by company insiders.

Institutional Trading of Scotts Miracle-Gro

Institutional investors have recently modified their holdings of the company. Rise Advisors LLC raised its position in Scotts Miracle-Gro by 135.2% in the first quarter. Rise Advisors LLC now owns 334 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 192 shares in the last quarter. GAMMA Investing LLC bought a new position in shares of Scotts Miracle-Gro during the 4th quarter worth approximately $29,000. Frazier Financial Advisors LLC acquired a new stake in Scotts Miracle-Gro in the 4th quarter valued at $36,000. Bruce G. Allen Investments LLC acquired a new position in Scotts Miracle-Gro during the fourth quarter worth $47,000. Finally, Central Pacific Bank Trust Division bought a new position in shares of Scotts Miracle-Gro during the first quarter valued at $72,000. Institutional investors and hedge funds own 74.07% of the company’s stock.

About Scotts Miracle-Gro

The Scotts Miracle-Gro Company, together with its subsidiaries, manufactures, markets, and sells 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, and other durable products, as well as lawn-related weed, pest, and disease control products; and gardening and landscape products, which include water-soluble and continuous-release plant foods, potting mixes, garden soils, mulches and ground cover products, plant-related pest and disease control products, organic garden products, and live goods and seeding solutions.