Scotts Miracle-Gro Co (NYSE:SMG) Receives $76.03 Consensus Price Target from Analysts

Scotts Miracle-Gro Co (NYSE:SMG) has received an average recommendation of “Hold” from the six ratings firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $76.03.

Several equities analysts have recently issued reports on SMG shares. Raymond James cut Scotts Miracle-Gro from an “outperform” rating to a “market perform” rating and set a $77.10 price objective for the company. in a report on Wednesday, March 27th. They noted that the move was a valuation call. ValuEngine raised Scotts Miracle-Gro from a “hold” rating to a “buy” rating in a report on Wednesday, May 1st. Bank of America cut Scotts Miracle-Gro from a “neutral” rating to an “underperform” rating and boosted their price objective for the company from $81.00 to $83.00 in a report on Thursday, May 2nd. Finally, TheStreet raised Scotts Miracle-Gro from a “c” rating to a “b” rating in a report on Wednesday, May 1st.

Shares of SMG opened at $94.86 on Tuesday. Scotts Miracle-Gro has a one year low of $57.96 and a one year high of $94.97. The company has a quick ratio of 1.00, a current ratio of 1.59 and a debt-to-equity ratio of 3.28. The stock has a market cap of $5.22 billion, a price-to-earnings ratio of 25.57, a PEG ratio of 2.03 and a beta of 0.82.

Scotts Miracle-Gro (NYSE:SMG) last issued its quarterly earnings results on Wednesday, May 1st. The basic materials company reported $3.64 EPS for the quarter, topping the Zacks’ consensus estimate of $3.42 by $0.22. Scotts Miracle-Gro had a return on equity of 53.15% and a net margin of 8.67%. The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the previous year, the firm posted $2.88 EPS. The firm’s revenue was up 17.4% compared to the same quarter last year. As a group, equities research analysts expect that Scotts Miracle-Gro will post 4.33 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Tuesday, May 28th were issued a $0.55 dividend. The ex-dividend date was Friday, May 24th. This represents a $2.20 annualized dividend and a dividend yield of 2.32%. Scotts Miracle-Gro’s dividend payout ratio (DPR) is presently 59.30%.

Several hedge funds have recently modified their holdings of SMG. FMR LLC lifted its holdings in shares of 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. Norges Bank acquired a new position in shares of Scotts Miracle-Gro in the 4th quarter valued at about $31,340,000. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of 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. FIL Ltd raised its holdings in Scotts Miracle-Gro by 181.9% in the 1st quarter. FIL Ltd now owns 588,161 shares of the basic materials company’s stock worth $46,218,000 after purchasing an additional 379,511 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in Scotts Miracle-Gro by 146.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 502,367 shares of the basic materials company’s stock worth $39,476,000 after purchasing an additional 298,453 shares during the period. 66.13% of the stock is owned by institutional investors and hedge funds.

Scotts Miracle-Gro Company Profile

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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