Scotts Miracle-Gro (SMG) Scheduled to Post Earnings on Wednesday

Scotts Miracle-Gro (NYSE:SMG) is scheduled to be releasing its earnings data before the market opens on Wednesday, May 1st. Analysts expect Scotts Miracle-Gro to post earnings of $3.33 per share for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.

Scotts Miracle-Gro (NYSE:SMG) last released its quarterly earnings data on Wednesday, February 7th. The basic materials company reported ($1.45) EPS for the quarter, beating analysts’ consensus estimates of ($1.62) by $0.17. The company had revenue of $410.40 million during the quarter, compared to the consensus estimate of $412.83 million. Scotts Miracle-Gro had a negative net margin of 11.52% and a negative return on equity of 44.37%. Scotts Miracle-Gro’s quarterly revenue was down 22.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($1.02) EPS. On average, analysts expect Scotts Miracle-Gro to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Scotts Miracle-Gro Stock Down 1.1 %

Shares of Scotts Miracle-Gro stock traded down $0.78 on Tuesday, hitting $67.68. 45,619 shares of the company were exchanged, compared to its average volume of 724,548. Scotts Miracle-Gro has a 1-year low of $43.67 and a 1-year high of $77.95. The stock has a market capitalization of $3.84 billion, a price-to-earnings ratio of -9.72 and a beta of 1.70. The company has a 50-day moving average price of $68.18 and a 200 day moving average price of $60.70.

Scotts Miracle-Gro Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 24th will be issued a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 3.90%. The ex-dividend date of this dividend is Thursday, May 23rd. Scotts Miracle-Gro’s payout ratio is currently -37.50%.

Insider Activity

In related news, Director Stephen L. Johnson sold 1,394 shares of the stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $57.35, for a total transaction of $79,945.90. Following the transaction, the director now owns 22,918 shares of the company’s stock, valued at approximately $1,314,347.30. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director Hagedorn Partnership, L.P. sold 86,356 shares of Scotts Miracle-Gro stock in a transaction on Monday, March 4th. The shares were sold at an average price of $65.41, for a total transaction of $5,648,545.96. Following the completion of the sale, the director now directly owns 13,777,012 shares of the company’s stock, valued at approximately $901,154,354.92. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Stephen L. Johnson sold 1,394 shares of Scotts Miracle-Gro stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $57.35, for a total transaction of $79,945.90. Following the sale, the director now directly owns 22,918 shares of the company’s stock, valued at $1,314,347.30. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 102,750 shares of company stock valued at $6,604,492. 26.46% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

SMG has been the subject of several recent analyst reports. Raymond James restated a “market perform” rating on shares of Scotts Miracle-Gro in a research report on Monday, March 25th. Stifel Nicolaus lifted their price target on shares of Scotts Miracle-Gro from $55.00 to $65.00 and gave the company a “hold” rating in a research report on Monday, March 4th. Truist Financial lowered Scotts Miracle-Gro from a “buy” rating to a “hold” rating and increased their price objective for the stock from $65.00 to $75.00 in a research report on Friday, April 5th. StockNews.com upgraded Scotts Miracle-Gro from a “sell” rating to a “hold” rating in a research report on Thursday, April 4th. Finally, JPMorgan Chase & Co. increased their price target on Scotts Miracle-Gro from $70.00 to $85.00 and gave the stock an “overweight” rating in a report on Friday, April 5th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $70.00.

Scotts Miracle-Gro Company Profile

The Scotts Miracle-Gro Company, together with its subsidiaries, manufactures, markets, and sells 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, and other durable products, as well as lawn-related weed, pest, and disease control products; and gardening and landscape products, which include water-soluble and continuous-release plant foods, potting mixes, garden soils, mulches and ground cover products, plant-related pest and disease control products, organic garden products, and live goods and seeding solutions.