Analysts predict that Scotts Miracle-Gro Co (NYSE:SMG) will report $1.04 billion in sales for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Scotts Miracle-Gro’s earnings, with the lowest sales estimate coming in at $1.02 billion and the highest estimate coming in at $1.06 billion. Scotts Miracle-Gro reported sales of $994.60 million in the same quarter last year, which would suggest a positive year over year growth rate of 4.6%. The company is scheduled to report its next quarterly earnings results on Tuesday, July 30th.
According to Zacks, analysts expect that Scotts Miracle-Gro will report full year sales of $2.95 billion for the current fiscal year, with estimates ranging from $2.91 billion to $2.97 billion. For the next financial year, analysts forecast that the firm will post sales of $3.04 billion, with estimates ranging from $3.01 billion to $3.05 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Scotts Miracle-Gro.
Scotts Miracle-Gro (NYSE:SMG) last issued its quarterly earnings results on Wednesday, May 1st. The basic materials company reported $3.64 earnings per share for the quarter, beating the consensus estimate of $3.42 by $0.22. The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Scotts Miracle-Gro had a return on equity of 53.15% and a net margin of 8.67%. The business’s quarterly revenue was up 17.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.88 earnings per share.
A number of equities research analysts have commented on SMG shares. Raymond James cut Scotts Miracle-Gro from an “outperform” rating to a “market perform” rating and set a $77.10 price objective for the company. in a research note on Wednesday, March 27th. They noted that the move was a valuation call. ValuEngine cut Scotts Miracle-Gro from a “buy” rating to a “hold” rating in a research note on Wednesday, May 15th. Bank of America cut Scotts Miracle-Gro from a “neutral” rating to an “underperform” rating and raised their price objective for the company from $81.00 to $83.00 in a research note on Thursday, May 2nd. TheStreet raised Scotts Miracle-Gro from a “c” rating to a “b” rating in a research note on Wednesday, May 1st. Finally, JPMorgan Chase & Co. raised Scotts Miracle-Gro from an “underweight” rating to a “neutral” rating and set a $70.00 price objective for the company in a research note on Thursday, January 31st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $76.03.
Hedge funds have recently bought and sold shares of the company. Cresset Asset Management LLC bought a new position in shares of Scotts Miracle-Gro in the first quarter valued at approximately $25,000. Front Row Advisors LLC bought a new position in shares of Scotts Miracle-Gro in the first quarter valued at approximately $25,000. Enlightenment Research LLC bought a new position in shares of Scotts Miracle-Gro in the fourth quarter valued at approximately $25,000. Toronto Dominion Bank bought a new position in shares of Scotts Miracle-Gro in the fourth quarter valued at approximately $27,000. Finally, Shine Investment Advisory Services Inc. lifted its holdings in shares of Scotts Miracle-Gro by 106.5% in the first quarter. Shine Investment Advisory Services Inc. now owns 510 shares of the basic materials company’s stock valued at $40,000 after purchasing an additional 263 shares in the last quarter. Institutional investors own 66.57% of the company’s stock.
NYSE SMG traded up $1.01 during trading hours on Monday, hitting $88.87. 188,156 shares of the company’s stock were exchanged, compared to its average volume of 489,659. Scotts Miracle-Gro has a 1-year low of $57.96 and a 1-year high of $94.49. The stock has a market capitalization of $4.90 billion, a P/E ratio of 23.95, a P/E/G ratio of 1.97 and a beta of 0.94. The company has a debt-to-equity ratio of 3.28, a current ratio of 1.59 and a quick ratio of 1.00.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Tuesday, May 28th will be paid a $0.55 dividend. The ex-dividend date is Friday, May 24th. This represents a $2.20 dividend on an annualized basis and a yield of 2.48%. Scotts Miracle-Gro’s dividend payout ratio (DPR) is presently 59.30%.
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.
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