Scotts Miracle-Gro Co (NYSE:SMG) – Equities research analysts at William Blair lifted their FY2021 EPS estimates for shares of Scotts Miracle-Gro in a report issued on Tuesday, September 15th. William Blair analyst J. Andersen now forecasts that the basic materials company will post earnings per share of $7.50 for the year, up from their prior forecast of $7.25. William Blair currently has a “Buy” rating on the stock.
Scotts Miracle-Gro (NYSE:SMG) last posted its quarterly earnings data on Wednesday, July 29th. The basic materials company reported $3.80 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.37 by $0.43. The company had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.33 billion. Scotts Miracle-Gro had a net margin of 8.71% and a return on equity of 45.36%. The company’s revenue was up 27.5% on a year-over-year basis. During the same quarter last year, the business posted $3.11 earnings per share.
Several other analysts have also recently commented on the stock. SunTrust Banks increased their price target on shares of Scotts Miracle-Gro from $155.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Raymond James reissued a “hold” rating on shares of Scotts Miracle-Gro in a research report on Thursday, August 6th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Scotts Miracle-Gro has an average rating of “Hold” and an average price target of $128.50.
SMG opened at $160.57 on Wednesday. Scotts Miracle-Gro has a one year low of $76.50 and a one year high of $176.08. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.61 and a quick ratio of 1.16. The company’s 50 day simple moving average is $162.17 and its 200-day simple moving average is $134.41. The stock has a market capitalization of $8.95 billion, a P/E ratio of 28.17 and a beta of 1.05.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Thursday, August 27th were paid a $0.62 dividend. This is a positive change from Scotts Miracle-Gro’s previous quarterly dividend of $0.58. This represents a $2.48 annualized dividend and a yield of 1.54%. The ex-dividend date of this dividend was Wednesday, August 26th. Scotts Miracle-Gro’s payout ratio is presently 55.48%.
In other Scotts Miracle-Gro news, Director Adam Hanft sold 3,000 shares of Scotts Miracle-Gro stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $138.00, for a total value of $414,000.00. Following the sale, the director now directly owns 30,445 shares in the company, valued at approximately $4,201,410. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Katherine Littlefield Hagedorn sold 2,506 shares of Scotts Miracle-Gro stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $132.68, for a total transaction of $332,496.08. Following the completion of the transaction, the director now directly owns 5,980 shares of the company’s stock, valued at approximately $793,426.40. The disclosure for this sale can be found here. Insiders sold a total of 147,685 shares of company stock worth $19,761,267 over the last quarter. Company insiders own 28.20% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Principal Financial Group Inc. grew its position in shares of Scotts Miracle-Gro by 5.5% in the 2nd quarter. Principal Financial Group Inc. now owns 123,595 shares of the basic materials company’s stock valued at $16,620,000 after acquiring an additional 6,481 shares during the period. PNC Financial Services Group Inc. boosted its holdings in shares of Scotts Miracle-Gro by 0.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 50,012 shares of the basic materials company’s stock worth $6,724,000 after buying an additional 190 shares during the period. WFA of San Diego LLC bought a new stake in shares of Scotts Miracle-Gro during the 2nd quarter worth about $649,000. Handelsbanken Fonder AB bought a new stake in shares of Scotts Miracle-Gro during the 2nd quarter worth about $840,000. Finally, FMR LLC boosted its holdings in shares of Scotts Miracle-Gro by 4.0% during the 2nd quarter. FMR LLC now owns 183,008 shares of the basic materials company’s stock worth $24,610,000 after buying an additional 6,982 shares during the period. 64.86% of the stock is owned by institutional investors.
Scotts Miracle-Gro Company Profile
The Scotts Miracle-Gro Company manufactures, markets, and sells consumer lawn and garden products in the United States and internationally. The company operates through three segments: U.S. Consumer, Hawthorne, and Other. It offers lawn care products, such as lawn fertilizers, grass seed products, spreaders, other durable products, and outdoor cleaners, as well as lawn-related weed, pest, and disease control products.
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