The Scotts Miracle-Gro Company (NYSE:SMG) Receives $74.00 Average PT from Analysts

The Scotts Miracle-Gro Company (NYSE:SMG) has been assigned a consensus rating of “Moderate Buy” from the eight ratings firms that are covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $72.8333.

A number of research analysts recently issued reports on SMG shares. Wells Fargo & Company cut their price target on Scotts Miracle-Gro from $75.00 to $72.00 and set an “overweight” rating for the company in a report on Wednesday, April 8th. Wall Street Zen upgraded Scotts Miracle-Gro from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Weiss Ratings reiterated a “hold (c)” rating on shares of Scotts Miracle-Gro in a research report on Monday, May 4th. Stifel Nicolaus set a $76.00 price objective on Scotts Miracle-Gro in a research report on Tuesday, May 12th. Finally, UBS Group reiterated a “neutral” rating and issued a $63.00 price objective on shares of Scotts Miracle-Gro in a research report on Tuesday.

Scotts Miracle-Gro Stock Performance

Shares of NYSE SMG opened at $56.89 on Thursday. The stock has a market cap of $3.31 billion, a PE ratio of 31.78 and a beta of 1.84. The business has a fifty day moving average of $61.66 and a two-hundred day moving average of $61.63. Scotts Miracle-Gro has a 52-week low of $52.00 and a 52-week high of $72.35.

Scotts Miracle-Gro (NYSE:SMG) last issued its quarterly earnings data on Wednesday, April 29th. The basic materials company reported $4.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.97 by $0.56. Scotts Miracle-Gro had a negative return on equity of 79.61% and a net margin of 3.27%.The company had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same period last year, the business earned $3.98 earnings per share. The business’s revenue was up 2.7% on a year-over-year basis. Analysts predict that Scotts Miracle-Gro will post 4.37 earnings per share for the current year.

Scotts Miracle-Gro Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Friday, May 22nd will be given a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date is Friday, May 22nd. Scotts Miracle-Gro’s dividend payout ratio (DPR) is presently 147.49%.

Hedge Funds Weigh In On Scotts Miracle-Gro

Several institutional investors have recently modified their holdings of the stock. Cassaday & Co Wealth Management LLC bought a new stake in shares of Scotts Miracle-Gro in the 1st quarter valued at about $26,000. Key Capital Management INC acquired a new position in Scotts Miracle-Gro during the fourth quarter valued at approximately $29,000. Covestor Ltd grew its holdings in Scotts Miracle-Gro by 201.1% during the third quarter. Covestor Ltd now owns 527 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 352 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in Scotts Miracle-Gro during the third quarter valued at approximately $32,000. Finally, Hantz Financial Services Inc. grew its holdings in Scotts Miracle-Gro by 157.3% during the third quarter. Hantz Financial Services Inc. now owns 584 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 357 shares during the period. 74.07% of the stock is currently owned by institutional investors and hedge funds.

Scotts Miracle-Gro Company Profile

Scotts Miracle-Gro Company is a leading developer, manufacturer and distributor of consumer lawn and garden products. The firm serves both retail and professional customers through an array of branded offerings that include lawn fertilizers, grass seed, pest and disease control solutions, plant foods and specialty products for indoor and outdoor gardening. Its portfolio spans well-known names such as Scotts®, Miracle-Gro®, Ortho® and various hydroponic and specialty garden brands.

Headquartered in Marysville, Ohio, the company traces its roots to O.M.