Scotts Miracle-Gro Co (NYSE:SMG) – Research analysts at Gabelli lowered their FY2018 earnings estimates for Scotts Miracle-Gro in a report released on Wednesday, according to Zacks Investment Research. Gabelli analyst Z. Bodini now forecasts that the basic materials company will earn $4.50 per share for the year, down from their prior estimate of $4.80. Gabelli also issued estimates for Scotts Miracle-Gro’s FY2019 earnings at $5.10 EPS, FY2020 earnings at $5.65 EPS and FY2021 earnings at $6.30 EPS.
Separately, Zacks Investment Research upgraded Scotts Miracle-Gro from a “hold” rating to a “buy” rating and set a $104.00 target price for the company in a research note on Tuesday, February 14th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $97.00.
Scotts Miracle-Gro (NYSE:SMG) traded up 0.18% on Friday, reaching $87.93. The company’s stock had a trading volume of 284,959 shares. Scotts Miracle-Gro has a 52-week low of $65.80 and a 52-week high of $98.82. The firm’s 50-day moving average price is $93.18 and its 200-day moving average price is $92.29. The stock has a market cap of $5.26 billion, a price-to-earnings ratio of 18.85 and a beta of 0.64. Scotts Miracle-Gro (NYSE:SMG) last posted its earnings results on Tuesday, May 2nd. The basic materials company reported $2.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by $0.15. Scotts Miracle-Gro had a net margin of 11.64% and a return on equity of 34.31%. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same period in the previous year, the firm posted $3.15 earnings per share. The firm’s revenue was down 3.3% on a year-over-year basis.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 9th. Shareholders of record on Friday, May 26th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, May 24th. This represents a $2.00 dividend on an annualized basis and a yield of 2.28%. Scotts Miracle-Gro’s dividend payout ratio (DPR) is currently 37.24%. In other Scotts Miracle-Gro news, insider Michael C. Lukemire sold 10,000 shares of Scotts Miracle-Gro stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $89.31, for a total transaction of $893,100.00. Following the completion of the transaction, the insider now owns 50,269 shares in the company, valued at approximately $4,489,524.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Thomas Randal Coleman sold 4,265 shares of Scotts Miracle-Gro stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $89.84, for a total value of $383,167.60. Following the transaction, the chief financial officer now owns 19,202 shares of the company’s stock, valued at approximately $1,725,107.68. The disclosure for this sale can be found here. Insiders have sold a total of 54,955 shares of company stock valued at $4,881,822 in the last quarter. Company insiders own 28.16% of the company’s stock.
Several institutional investors have recently bought and sold shares of SMG. Dynamic Capital Management Ltd purchased a new position in Scotts Miracle-Gro during the third quarter valued at approximately $2,078,000. Suntrust Banks Inc. boosted its position in Scotts Miracle-Gro by 11.9% in the third quarter. Suntrust Banks Inc. now owns 20,701 shares of the basic materials company’s stock valued at $1,723,000 after buying an additional 2,194 shares in the last quarter. California State Teachers Retirement System boosted its position in Scotts Miracle-Gro by 0.8% in the third quarter. California State Teachers Retirement System now owns 96,440 shares of the basic materials company’s stock valued at $8,031,000 after buying an additional 800 shares in the last quarter. Advisor Group Inc. boosted its position in Scotts Miracle-Gro by 29.3% in the third quarter. Advisor Group Inc. now owns 2,865 shares of the basic materials company’s stock valued at $238,000 after buying an additional 650 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its position in Scotts Miracle-Gro by 1.3% in the third quarter. Ameriprise Financial Inc. now owns 252,240 shares of the basic materials company’s stock valued at $21,004,000 after buying an additional 3,350 shares in the last quarter. 66.15% of the stock is currently owned by hedge funds and other institutional investors. Scotts Miracle-Gro Company Profile
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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