Scotts Miracle-Gro (NYSE:SMG – Get Rating) issued its earnings results on Tuesday. The basic materials company reported $5.03 EPS for the quarter, beating analysts’ consensus estimates of $4.69 by $0.34, MarketWatch Earnings reports. Scotts Miracle-Gro had a return on equity of 46.76% and a net margin of 9.24%. The business had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same period in the previous year, the company posted $5.64 EPS. The firm’s revenue was down 8.2% compared to the same quarter last year.
Shares of NYSE:SMG traded down $3.82 during trading on Tuesday, hitting $102.22. 7,685 shares of the company were exchanged, compared to its average volume of 456,803. The company has a market cap of $5.68 billion, a PE ratio of 13.93 and a beta of 1.18. The stock has a 50 day moving average of $121.33 and a 200 day moving average of $142.24. Scotts Miracle-Gro has a 52-week low of $98.61 and a 52-week high of $247.84. The company has a debt-to-equity ratio of 3.71, a current ratio of 2.51 and a quick ratio of 0.69.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 10th. Shareholders of record on Friday, May 27th will be given a dividend of $0.66 per share. The ex-dividend date is Thursday, May 26th. This represents a $2.64 annualized dividend and a dividend yield of 2.58%. Scotts Miracle-Gro’s dividend payout ratio is currently 34.69%.
A number of analysts have commented on the company. Zacks Investment Research raised Scotts Miracle-Gro from a “sell” rating to a “hold” rating and set a $123.00 price objective for the company in a report on Tuesday, April 12th. Barclays lowered Scotts Miracle-Gro from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $150.00 to $110.00 in a report on Thursday, April 21st. StockNews.com initiated coverage on Scotts Miracle-Gro in a report on Thursday, March 31st. They set a “sell” rating for the company. Truist Financial cut their target price on Scotts Miracle-Gro from $225.00 to $185.00 in a research note on Tuesday, March 22nd. Finally, Wells Fargo & Company cut their target price on Scotts Miracle-Gro from $170.00 to $160.00 and set an “overweight” rating on the stock in a research note on Thursday, March 17th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Scotts Miracle-Gro presently has an average rating of “Buy” and a consensus target price of $180.89.
Several large investors have recently bought and sold shares of SMG. Boston Private Wealth LLC purchased a new stake in shares of Scotts Miracle-Gro during the fourth quarter worth $234,000. NewEdge Advisors LLC bought a new position in shares of Scotts Miracle-Gro in the fourth quarter worth $337,000. Colony Group LLC increased its holdings in shares of Scotts Miracle-Gro by 5.2% in the fourth quarter. Colony Group LLC now owns 3,611 shares of the basic materials company’s stock worth $581,000 after purchasing an additional 177 shares during the period. Toroso Investments LLC increased its holdings in shares of Scotts Miracle-Gro by 10.7% in the fourth quarter. Toroso Investments LLC now owns 8,539 shares of the basic materials company’s stock worth $1,375,000 after purchasing an additional 823 shares during the period. Finally, Thrivent Financial for Lutherans increased its holdings in shares of Scotts Miracle-Gro by 0.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 10,741 shares of the basic materials company’s stock worth $1,729,000 after purchasing an additional 93 shares during the period. Hedge funds and other institutional investors own 62.23% of the company’s stock.
About Scotts Miracle-Gro (Get Rating)
The Scotts Miracle-Gro Company engages in the manufacture, marketing, and sale of products for lawn, garden care, and indoor and hydroponic gardening in the United States and internationally. The company operates through three segments: U.S. Consumer, Hawthorne, and Other. It 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 include 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 lives goods and seeding solutions.
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