Scotts Miracle-Gro Co (NYSE:SMG) Expected to Announce Earnings of $2.70 Per Share

Equities analysts expect Scotts Miracle-Gro Co (NYSE:SMG) to post $2.70 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Scotts Miracle-Gro’s earnings, with the lowest EPS estimate coming in at $2.58 and the highest estimate coming in at $2.77. Scotts Miracle-Gro reported earnings per share of $2.67 during the same quarter last year, which suggests a positive year-over-year growth rate of 1.1%. The company is scheduled to report its next quarterly earnings report on Tuesday, July 30th.

According to Zacks, analysts expect that Scotts Miracle-Gro will report full year earnings of $4.28 per share for the current year, with EPS estimates ranging from $4.10 to $4.40. For the next year, analysts anticipate that the company will post earnings of $4.69 per share, with EPS estimates ranging from $4.55 to $4.80. Zacks’ EPS calculations are an average based on a survey of research firms that cover Scotts Miracle-Gro.

Scotts Miracle-Gro (NYSE:SMG) last released its earnings results on Wednesday, May 1st. The basic materials company reported $3.64 EPS for the quarter, beating the consensus estimate of $3.42 by $0.22. Scotts Miracle-Gro had a net margin of 8.67% and a return on equity of 53.15%. The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same period in the prior year, the business earned $2.88 earnings per share. The business’s quarterly revenue was up 17.4% on a year-over-year basis.

SMG has been the subject of several research analyst reports. TheStreet upgraded shares of Scotts Miracle-Gro from a “c” rating to a “b” rating in a research report on Wednesday, May 1st. ValuEngine upgraded shares of Scotts Miracle-Gro from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. Raymond James downgraded shares of Scotts Miracle-Gro from an “outperform” rating to a “market perform” rating and set a $77.10 price target for the company. in a research report on Wednesday, March 27th. They noted that the move was a valuation call. Finally, Bank of America downgraded shares of Scotts Miracle-Gro from a “neutral” rating to an “underperform” rating and upped their price target for the company from $81.00 to $83.00 in a research report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $76.03.

Shares of NYSE:SMG opened at $93.01 on Friday. 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 has a market capitalization of $5.24 billion, a P/E ratio of 25.07, a PEG ratio of 2.06 and a beta of 0.82. Scotts Miracle-Gro has a 52 week low of $57.96 and a 52 week high of $94.70.

The company also recently declared a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Tuesday, May 28th were given a $0.55 dividend. The ex-dividend date was Friday, May 24th. This represents a $2.20 annualized dividend and a dividend yield of 2.37%. Scotts Miracle-Gro’s dividend payout ratio (DPR) is presently 59.30%.

Several large investors have recently modified their holdings of SMG. BlackRock Inc. increased its stake in Scotts Miracle-Gro by 0.9% in the 1st quarter. BlackRock Inc. now owns 3,664,827 shares of the basic materials company’s stock valued at $287,982,000 after buying an additional 32,376 shares during the period. FMR LLC increased its stake in Scotts Miracle-Gro by 24.5% in the 1st quarter. FMR LLC now owns 2,941,892 shares of the basic materials company’s stock valued at $231,173,000 after buying an additional 578,765 shares during the period. Kayne Anderson Rudnick Investment Management LLC increased its stake in Scotts Miracle-Gro by 19.6% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,576,340 shares of the basic materials company’s stock valued at $202,449,000 after buying an additional 422,350 shares during the period. Wells Fargo & Company MN increased its stake in Scotts Miracle-Gro by 19.9% in the 1st quarter. Wells Fargo & Company MN now owns 732,100 shares of the basic materials company’s stock valued at $57,529,000 after buying an additional 121,489 shares during the period. Finally, Northern Trust Corp increased its stake in Scotts Miracle-Gro by 4.9% in the 1st quarter. Northern Trust Corp now owns 705,500 shares of the basic materials company’s stock valued at $55,438,000 after buying an additional 32,714 shares during the period. Institutional investors and hedge funds own 66.13% of the company’s stock.

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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Earnings History and Estimates for Scotts Miracle-Gro (NYSE:SMG)

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