Wall Street brokerages predict that Scotts Miracle-Gro Co (NYSE:SMG) will announce sales of $450.62 million for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Scotts Miracle-Gro’s earnings. The lowest sales estimate is $436.80 million and the highest is $458.10 million. Scotts Miracle-Gro reported sales of $433.90 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 3.9%. The company is scheduled to announce its next quarterly earnings report on Wednesday, November 6th.
According to Zacks, analysts expect that Scotts Miracle-Gro will report full-year sales of $3.11 billion for the current fiscal year, with estimates ranging from $3.10 billion to $3.12 billion. For the next financial year, analysts expect that the company will post sales of $3.19 billion, with estimates ranging from $3.16 billion to $3.24 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover Scotts Miracle-Gro.
Scotts Miracle-Gro (NYSE:SMG) last released its earnings results on Wednesday, July 31st. The basic materials company reported $3.11 EPS for the quarter, beating the Zacks’ consensus estimate of $2.74 by $0.37. The company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Scotts Miracle-Gro had a return on equity of 51.15% and a net margin of 12.02%. The firm’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.67 EPS.
Shares of SMG traded down $0.87 on Monday, reaching $110.57. The stock had a trading volume of 5,876 shares, compared to its average volume of 680,757. The firm has a market capitalization of $6.24 billion, a price-to-earnings ratio of 29.82, a price-to-earnings-growth ratio of 2.26 and a beta of 0.86. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.90 and a current ratio of 1.45. The company has a 50-day simple moving average of $105.56 and a 200-day simple moving average of $90.43. Scotts Miracle-Gro has a 12-month low of $57.96 and a 12-month high of $114.63.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th will be given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date is Monday, August 26th. This is a positive change from Scotts Miracle-Gro’s previous quarterly dividend of $0.55. Scotts Miracle-Gro’s dividend payout ratio (DPR) is 59.30%.
In other news, EVP Denise Stump sold 17,992 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $109.88, for a total value of $1,976,960.96. Following the transaction, the executive vice president now directly owns 31,422 shares in the company, valued at approximately $3,452,649.36. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Hagedorn Partnership, L.P. sold 182,649 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $109.34, for a total value of $19,970,841.66. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 792,310 shares of company stock valued at $86,691,260. 30.37% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SMG. FMR LLC lifted its position in Scotts Miracle-Gro by 24.5% during the first quarter. FMR LLC now owns 2,941,892 shares of the basic materials company’s stock valued at $231,173,000 after purchasing an additional 578,765 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its position in Scotts Miracle-Gro by 19.6% during the first 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 purchasing an additional 422,350 shares in the last quarter. FIL Ltd lifted its position in Scotts Miracle-Gro by 181.9% during the first quarter. FIL Ltd now owns 588,161 shares of the basic materials company’s stock valued at $46,218,000 after purchasing an additional 379,511 shares in the last quarter. ETF Managers Group LLC purchased a new position in Scotts Miracle-Gro during the second quarter valued at $20,209,000. Finally, Invesco Ltd. lifted its position in Scotts Miracle-Gro by 615.3% during the second quarter. Invesco Ltd. now owns 223,633 shares of the basic materials company’s stock valued at $22,029,000 after purchasing an additional 192,368 shares in the last quarter. Institutional investors own 65.14% 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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