The Scotts Miracle-Gro Company (NYSE:SMG) Expected to Announce Quarterly Sales of $1.73 Billion


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Wall Street brokerages predict that The Scotts Miracle-Gro Company (NYSE:SMG) will announce sales of $1.73 billion for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for The Scotts Miracle-Gro’s earnings. The lowest sales estimate is $1.70 billion and the highest is $1.78 billion. The Scotts Miracle-Gro posted sales of $1.38 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 25.4%. The company is expected to report its next quarterly earnings report on Wednesday, May 5th.

On average, analysts expect that The Scotts Miracle-Gro will report full year sales of $4.55 billion for the current financial year, with estimates ranging from $4.45 billion to $4.77 billion. For the next financial year, analysts forecast that the company will report sales of $4.46 billion, with estimates ranging from $4.35 billion to $4.57 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for The Scotts Miracle-Gro.

The Scotts Miracle-Gro (NYSE:SMG) last announced its quarterly earnings results on Tuesday, February 2nd. The basic materials company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of ($0.73) by $1.12. The Scotts Miracle-Gro had a return on equity of 52.60% and a net margin of 9.38%. The company had revenue of $748.60 million during the quarter, compared to analyst estimates of $623.98 million. During the same period in the prior year, the company earned ($1.12) earnings per share. The firm’s revenue was up 104.6% on a year-over-year basis.

SMG has been the topic of several research reports. Truist boosted their price target on shares of The Scotts Miracle-Gro from $180.00 to $250.00 in a research report on Thursday, January 7th. Raymond James boosted their target price on shares of The Scotts Miracle-Gro from $274.00 to $290.00 and gave the stock a “strong-buy” rating in a report on Thursday, February 4th. Truist Financial increased their price target on shares of The Scotts Miracle-Gro from $250.00 to $270.00 in a report on Thursday, February 4th. Finally, William Blair reiterated an “outperform” rating on shares of The Scotts Miracle-Gro in a research report on Wednesday, February 3rd. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $228.00.

Shares of NYSE SMG traded up $1.11 during midday trading on Monday, reaching $248.96. 1,621 shares of the stock traded hands, compared to its average volume of 412,204. The company’s 50 day moving average is $228.46 and its 200 day moving average is $197.61. The Scotts Miracle-Gro has a one year low of $101.27 and a one year high of $254.34. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.28 and a quick ratio of 0.63. The stock has a market capitalization of $13.87 billion, a PE ratio of 36.40 and a beta of 1.13.

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 10th. Investors of record on Wednesday, February 24th were paid a dividend of $0.62 per share. The ex-dividend date of this dividend was Tuesday, February 23rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.00%. The Scotts Miracle-Gro’s dividend payout ratio is presently 34.25%.

In other The Scotts Miracle-Gro news, Director Stephen L. Johnson sold 800 shares of the stock in a transaction on Thursday, March 11th. The stock was sold at an average price of $219.48, for a total value of $175,584.00. Following the sale, the director now owns 20,631 shares in the company, valued at $4,528,091.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO James Hagedorn sold 14,544 shares of The Scotts Miracle-Gro stock in a transaction on Thursday, February 4th. The stock was sold at an average price of $234.41, for a total value of $3,409,259.04. Insiders have sold a total of 82,784 shares of company stock worth $19,619,256 over the last quarter. 27.17% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of SMG. Private Trust Co. NA lifted its holdings in The Scotts Miracle-Gro by 31.4% during the 1st quarter. Private Trust Co. NA now owns 1,962 shares of the basic materials company’s stock valued at $480,000 after buying an additional 469 shares in the last quarter. Capital Investment Services of America Inc. purchased a new position in shares of The Scotts Miracle-Gro during the first quarter worth approximately $288,000. Stonebridge Capital Management Inc. bought a new stake in shares of The Scotts Miracle-Gro during the first quarter valued at approximately $245,000. Fulton Bank N.A. raised its stake in shares of The Scotts Miracle-Gro by 11.5% during the first quarter. Fulton Bank N.A. now owns 1,259 shares of the basic materials company’s stock valued at $308,000 after acquiring an additional 130 shares in the last quarter. Finally, Legacy Wealth Asset Management LLC purchased a new stake in shares of The Scotts Miracle-Gro in the fourth quarter valued at approximately $326,000. Hedge funds and other institutional investors own 63.07% of the company’s stock.

About The 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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Earnings History and Estimates for The Scotts Miracle-Gro (NYSE:SMG)

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