Scotts Miracle-Gro Co. (SMG) Hits New 12-Month High at $83.59
Scotts Miracle-Gro Co. (NYSE:SMG)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $83.59 and last traded at $82.91, with a volume of 129,130 shares changing hands. The stock had previously closed at $83.07.
A number of brokerages have recently weighed in on SMG. Zacks Investment Research downgraded Scotts Miracle-Gro from a “hold” rating to a “sell” rating in a report on Friday, July 15th. JPMorgan Chase & Co. upgraded Scotts Miracle-Gro from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $70.00 to $85.00 in a report on Thursday, August 4th. Finally, Tigress Financial reiterated a “buy” rating on shares of Scotts Miracle-Gro in a report on Monday, August 29th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $83.33.
The company has a 50-day moving average price of $79.27 and a 200 day moving average price of $72.56. The company has a market capitalization of $5.01 billion and a PE ratio of 16.17.
Scotts Miracle-Gro (NYSE:SMG) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $2.16 EPS for the quarter, beating the Zacks’ consensus estimate of $2.12 by $0.04. The company had revenue of $994.10 million for the quarter, compared to analyst estimates of $1.05 billion. The business’s revenue was down 10.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.68 EPS. Analysts anticipate that Scotts Miracle-Gro Co. will post $3.79 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 9th. Stockholders of record on Friday, August 26th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.41%. This is an increase from Scotts Miracle-Gro’s previous quarterly dividend of $0.47. The ex-dividend date is Wednesday, August 24th.
In other news, CFO Thomas Randal Coleman sold 4,927 shares of the stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $82.51, for a total transaction of $406,526.77. Following the transaction, the chief financial officer now owns 4,323 shares of the company’s stock, valued at approximately $356,690.73. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Denise Stump sold 4,500 shares of the stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $81.72, for a total value of $367,740.00. Following the transaction, the executive vice president now directly owns 14,182 shares in the company, valued at approximately $1,158,953.04. The disclosure for this sale can be found here.
The Scotts Miracle-Gro Company (Scotts Miracle-Gro) is a manufacturer and marketer of branded consumer lawn and garden products. The Company’s segments include Global Consumer. In North America, its brands include Scotts and Turf Builder lawn and grass seed products; Miracle-Gro, Nature’s Care, Scotts, LiquaFeed and Osmocote gardening and landscape products; and Ortho, Roundup, Home Defense and Tomcat branded insect control, weed control and rodent control products.
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