Q2 2024 EPS Estimates for The Scotts Miracle-Gro Company Lifted by Analyst (NYSE:SMG)

The Scotts Miracle-Gro Company (NYSE:SMG) – Investment analysts at William Blair lifted their Q2 2024 EPS estimates for shares of Scotts Miracle-Gro in a report issued on Monday, November 20th. William Blair analyst J. Andersen now anticipates that the basic materials company will post earnings of $2.81 per share for the quarter, up from their previous estimate of $2.75. The consensus estimate for Scotts Miracle-Gro’s current full-year earnings is $2.66 per share.

SMG has been the topic of several other reports. Barclays cut their price target on shares of Scotts Miracle-Gro from $70.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Tuesday, September 5th. Stifel Nicolaus decreased their target price on shares of Scotts Miracle-Gro from $55.00 to $49.00 and set a “hold” rating on the stock in a research report on Monday, October 30th. Raymond James reduced their price target on shares of Scotts Miracle-Gro from $86.00 to $70.00 and set a “strong-buy” rating on the stock in a research report on Thursday, August 3rd. StockNews.com initiated coverage on shares of Scotts Miracle-Gro in a research report on Thursday, October 5th. They set a “hold” rating on the stock. Finally, Wells Fargo & Company dropped their price objective on shares of Scotts Miracle-Gro from $75.00 to $65.00 in a research note on Friday, August 4th. Four research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $67.00.

Scotts Miracle-Gro Trading Down 2.8 %

Shares of NYSE:SMG opened at $56.26 on Tuesday. The company’s 50-day moving average price is $50.38 and its two-hundred day moving average price is $57.75. The company has a debt-to-equity ratio of 19.50, a current ratio of 1.81 and a quick ratio of 0.67. Scotts Miracle-Gro has a one year low of $43.67 and a one year high of $88.61. The stock has a market capitalization of $3.16 billion, a PE ratio of -8.29 and a beta of 1.66.

Scotts Miracle-Gro (NYSE:SMG) last issued its quarterly earnings results on Wednesday, November 1st. The basic materials company reported ($2.77) EPS for the quarter, topping the consensus estimate of ($2.83) by $0.06. Scotts Miracle-Gro had a negative net margin of 10.70% and a positive return on equity of 421.70%. The firm had revenue of $374.50 million for the quarter, compared to analysts’ expectations of $332.16 million. During the same period in the previous year, the firm posted ($2.04) EPS. The company’s revenue for the quarter was down 24.1% on a year-over-year basis.

Institutional Investors Weigh In On Scotts Miracle-Gro

A number of institutional investors have recently added to or reduced their stakes in SMG. Price T Rowe Associates Inc. MD grew its holdings in Scotts Miracle-Gro by 62.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,330,654 shares of the basic materials company’s stock valued at $161,837,000 after buying an additional 1,283,911 shares in the last quarter. Empower Advisory Group LLC purchased a new stake in Scotts Miracle-Gro during the 1st quarter valued at approximately $49,649,000. Lazard Asset Management LLC purchased a new stake in Scotts Miracle-Gro during the 3rd quarter valued at approximately $28,336,000. Intrinsic Edge Capital Management LLC purchased a new position in shares of Scotts Miracle-Gro in the first quarter valued at $29,141,000. Finally, Northern Trust Corp grew its holdings in shares of Scotts Miracle-Gro by 56.1% in the second quarter. Northern Trust Corp now owns 892,791 shares of the basic materials company’s stock valued at $55,969,000 after purchasing an additional 320,829 shares in the last quarter. 70.10% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Scotts Miracle-Gro

In other news, CEO James Hagedorn sold 64,260 shares of the firm’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $52.69, for a total transaction of $3,385,859.40. Following the sale, the chief executive officer now owns 61,088 shares of the company’s stock, valued at approximately $3,218,726.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 27.28% of the company’s stock.

Scotts Miracle-Gro Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Monday, November 27th will be issued a $0.66 dividend. The ex-dividend date is Friday, November 24th. This represents a $2.64 annualized dividend and a yield of 4.69%. Scotts Miracle-Gro’s dividend payout ratio (DPR) is presently -38.88%.

Scotts Miracle-Gro Company Profile

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.