The Scotts Miracle-Gro Company (NYSE:SMG) Receives $67.67 Consensus PT from Analysts

Shares of The Scotts Miracle-Gro Company (NYSE:SMG) have earned a consensus rating of “Moderate Buy” from the six brokerages that are covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $67.67.

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company increased their price objective on Scotts Miracle-Gro from $67.00 to $72.00 and gave the company an “overweight” rating in a research report on Friday, June 6th. Truist Financial increased their price target on shares of Scotts Miracle-Gro from $70.00 to $75.00 and gave the company a “buy” rating in a report on Friday, June 6th. JPMorgan Chase & Co. dropped their price objective on shares of Scotts Miracle-Gro from $80.00 to $65.00 and set an “overweight” rating on the stock in a report on Thursday, May 1st. UBS Group reduced their target price on shares of Scotts Miracle-Gro from $55.00 to $54.00 and set a “neutral” rating for the company in a research note on Thursday, May 1st. Finally, Jefferies Financial Group raised Scotts Miracle-Gro from a “hold” rating to a “buy” rating and decreased their target price for the stock from $72.00 to $69.00 in a research report on Monday, April 7th.

Scotts Miracle-Gro Trading Down 4.1%

NYSE:SMG opened at $61.13 on Thursday. Scotts Miracle-Gro has a 1 year low of $45.61 and a 1 year high of $93.90. The firm’s fifty day simple moving average is $56.91 and its 200 day simple moving average is $62.71. The firm has a market capitalization of $3.53 billion, a PE ratio of -127.35 and a beta of 1.99.

Scotts Miracle-Gro (NYSE:SMG) last released its quarterly earnings results on Wednesday, April 30th. The basic materials company reported $3.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.95 by $0.03. The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Scotts Miracle-Gro had a negative net margin of 0.67% and a negative return on equity of 51.48%. The business’s quarterly revenue was down 6.8% compared to the same quarter last year. During the same period in the prior year, the company earned $3.69 earnings per share. As a group, analysts anticipate that Scotts Miracle-Gro will post 3.42 EPS for the current fiscal year.

Scotts Miracle-Gro Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 23rd were paid a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 4.32%. The ex-dividend date of this dividend was Friday, May 23rd. Scotts Miracle-Gro’s dividend payout ratio is 528.00%.

Institutional Investors Weigh In On Scotts Miracle-Gro

Several large investors have recently modified their holdings of the stock. Atala Financial Inc bought a new stake in Scotts Miracle-Gro in the fourth quarter valued at $25,000. SBI Securities Co. Ltd. bought a new stake in shares of Scotts Miracle-Gro in the 4th quarter worth about $26,000. Spire Wealth Management increased its position in shares of Scotts Miracle-Gro by 477.9% during the 1st quarter. Spire Wealth Management now owns 549 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 454 shares in the last quarter. UMB Bank n.a. boosted its position in Scotts Miracle-Gro by 479.4% in the first quarter. UMB Bank n.a. now owns 562 shares of the basic materials company’s stock valued at $31,000 after buying an additional 465 shares in the last quarter. Finally, Tortoise Investment Management LLC boosted its position in Scotts Miracle-Gro by 77.3% in the fourth quarter. Tortoise Investment Management LLC now owns 516 shares of the basic materials company’s stock valued at $34,000 after buying an additional 225 shares in the last quarter. 74.07% of the stock is currently owned by institutional investors.

Scotts Miracle-Gro Company Profile

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.