Zacks Investment Research upgraded shares of Scotts Miracle-Gro Co (NYSE:SMG) from a hold rating to a buy rating in a research report released on Wednesday morning. Zacks Investment Research currently has $103.00 price objective on the stock.
According to Zacks, “The Scotts Miracle-Gro Company, through its wholly-owned subsidiary, The Scotts Company LLC, is the world’s largest marketer of branded consumer products for lawn and garden care, with products for professional horticulture as well. The Company’s brands are the most recognized in the industry. In the U.S., the Company’s Scotts, Miracle-Gro, Ortho and Smith & Hawken brands are market-leading in their categories, as is the consumer Roundup brand, which is marketed in North America and most of Europe exclusively by Scotts and owned by Monsanto. In the U.S. the Company operates Scotts LawnService0, the second largest residential lawn care service business. In Europe, the Company’s brands include Weedol, Pathclear, Evergreen, Levington, Miracle-Gro, KB, Fertiligene and Substral. Its customers include home improvement centers, mass merchandisers, warehouse clubs, hardware chains, independent hardware stores, nurseries, food and drug stores, commercial nurseries and greenhouses, and specialty crop growers. “
A number of other research analysts also recently commented on SMG. SunTrust Banks, Inc. downgraded Scotts Miracle-Gro from a buy rating to a hold rating and set a $95.00 target price for the company. in a research report on Wednesday, January 11th. Bank of America Corp upgraded Scotts Miracle-Gro from an underperform rating to a buy rating and set a $105.00 target price for the company in a research report on Thursday, December 8th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock has an average rating of Buy and a consensus target price of $97.00.
Shares of Scotts Miracle-Gro (NYSE:SMG) opened at 92.14 on Wednesday. The firm has a market cap of $5.51 billion, a PE ratio of 17.16 and a beta of 0.64. The stock’s 50 day moving average price is $91.92 and its 200 day moving average price is $89.50. Scotts Miracle-Gro has a 12-month low of $65.80 and a 12-month high of $98.82.
Scotts Miracle-Gro (NYSE:SMG) last posted its earnings results on Tuesday, January 31st. The company reported ($0.96) EPS for the quarter, beating analysts’ consensus estimates of ($1.25) by $0.29. The firm earned $246.80 million during the quarter, compared to the consensus estimate of $232.93 million. Scotts Miracle-Gro had a return on equity of 34.31% and a net margin of 11.64%. The company’s quarterly revenue was up 26.9% compared to the same quarter last year. During the same period in the prior year, the company earned ($1.14) EPS. On average, equities research analysts predict that Scotts Miracle-Gro will post $4.30 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, March 10th. Investors of record on Friday, February 24th were given a $0.50 dividend. The ex-dividend date was Wednesday, February 22nd. This represents a $2.00 dividend on an annualized basis and a yield of 2.17%. Scotts Miracle-Gro’s dividend payout ratio is presently 37.24%.
A number of hedge funds have recently modified their holdings of the company. FMR LLC increased its stake in shares of Scotts Miracle-Gro by 218.0% in the fourth quarter. FMR LLC now owns 5,611,889 shares of the company’s stock worth $536,216,000 after buying an additional 3,847,358 shares in the last quarter. BlackRock Fund Advisors increased its stake in shares of Scotts Miracle-Gro by 4.3% in the third quarter. BlackRock Fund Advisors now owns 1,706,689 shares of the company’s stock worth $142,116,000 after buying an additional 70,102 shares in the last quarter. Fisher Asset Management LLC increased its stake in shares of Scotts Miracle-Gro by 3.8% in the third quarter. Fisher Asset Management LLC now owns 1,540,586 shares of the company’s stock worth $128,285,000 after buying an additional 56,027 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Scotts Miracle-Gro by 2.5% in the third quarter. Bank of New York Mellon Corp now owns 1,059,835 shares of the company’s stock worth $88,253,000 after buying an additional 25,538 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC bought a new stake in shares of Scotts Miracle-Gro during the third quarter worth about $50,939,000. Institutional investors own 66.15% of the company’s stock.
About Scotts Miracle-Gro
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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