Scotts Miracle-Gro Co (NYSE:SMG) – Stock analysts at Truist Securiti lifted their FY2020 earnings estimates for Scotts Miracle-Gro in a research report issued on Monday, September 14th. Truist Securiti analyst W. Chappell now forecasts that the basic materials company will post earnings of $7.25 per share for the year, up from their prior estimate of $6.77.
Scotts Miracle-Gro (NYSE:SMG) last released its quarterly earnings results on Wednesday, July 29th. The basic materials company reported $3.80 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.37 by $0.43. Scotts Miracle-Gro had a net margin of 8.71% and a return on equity of 45.36%. The company had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same period in the prior year, the company earned $3.11 earnings per share. The business’s quarterly revenue was up 27.5% compared to the same quarter last year.
A number of other equities research analysts have also recently issued reports on the stock. SunTrust Banks upped their price target on shares of Scotts Miracle-Gro from $155.00 to $180.00 and gave the company a “buy” rating in a report on Thursday, July 30th. William Blair reiterated a “buy” rating on shares of Scotts Miracle-Gro in a research note on Tuesday, June 9th. Finally, Raymond James reiterated a “hold” rating on shares of Scotts Miracle-Gro in a research note on Thursday, August 6th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $128.50.
SMG stock opened at $160.57 on Wednesday. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.61 and a quick ratio of 1.16. Scotts Miracle-Gro has a 52-week low of $76.50 and a 52-week high of $176.08. The company has a 50-day moving average of $162.17 and a two-hundred day moving average of $134.41. The stock has a market capitalization of $8.95 billion, a price-to-earnings ratio of 28.17 and a beta of 1.05.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Thursday, August 27th were paid a dividend of $0.62 per share. The ex-dividend date was Wednesday, August 26th. 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 dividend yield of 1.54%. Scotts Miracle-Gro’s payout ratio is currently 55.48%.
In other news, major shareholder Hagedorn Partnership, L.P. sold 82,379 shares of Scotts Miracle-Gro stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $132.68, for a total value of $10,930,045.72. Following the completion of the sale, the insider now directly owns 14,874,809 shares in the company, valued at $1,973,589,658.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Katherine Littlefield Hagedorn sold 2,506 shares of the stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $132.68, for a total value of $332,496.08. Following the sale, the director now directly owns 5,980 shares in the company, valued at approximately $793,426.40. The disclosure for this sale can be found here. Insiders have sold a total of 147,685 shares of company stock valued at $19,761,267 in the last ninety days. 28.20% of the stock is currently owned by insiders.
A number of hedge funds have recently bought and sold shares of SMG. Rockefeller Capital Management L.P. raised its stake in Scotts Miracle-Gro by 392.0% during the first quarter. Rockefeller Capital Management L.P. now owns 246 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 196 shares in the last quarter. Toronto Dominion Bank acquired a new position in Scotts Miracle-Gro during the first quarter worth about $27,000. Benjamin F. Edwards & Company Inc. raised its stake in Scotts Miracle-Gro by 62.8% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 311 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 120 shares in the last quarter. Harbor Investment Advisory LLC increased its stake in shares of Scotts Miracle-Gro by 192.5% in the first quarter. Harbor Investment Advisory LLC now owns 351 shares of the basic materials company’s stock valued at $36,000 after buying an additional 231 shares during the period. Finally, Bartlett & Co. LLC acquired a new position in shares of Scotts Miracle-Gro in the first quarter valued at approximately $41,000. 64.86% of the stock is owned by institutional investors and hedge funds.
About Scotts Miracle-Gro
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.
Further Reading: Can individual investors take part in an IPO?
Receive News & Ratings for Scotts Miracle-Gro Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Scotts Miracle-Gro and related companies with MarketBeat.com's FREE daily email newsletter.