Scotts Miracle-Gro (SMG) Set to Announce Quarterly Earnings on Wednesday

Scotts Miracle-Gro (NYSE:SMG) is scheduled to announce its earnings results before the market opens on Wednesday, May 1st. Analysts expect the company to announce earnings of $3.33 per share for the quarter. Individual interested in registering for the company’s earnings conference call can do so using this link.

Scotts Miracle-Gro (NYSE:SMG) last announced its quarterly earnings results on Wednesday, February 7th. The basic materials company reported ($1.45) EPS for the quarter, beating analysts’ consensus estimates of ($1.62) by $0.17. The business had revenue of $410.40 million during the quarter, compared to analyst estimates of $412.83 million. Scotts Miracle-Gro had a negative net margin of 11.52% and a negative return on equity of 44.37%. Scotts Miracle-Gro’s quarterly revenue was down 22.1% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.02) EPS. On average, analysts expect Scotts Miracle-Gro to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Scotts Miracle-Gro Price Performance

SMG opened at $67.75 on Monday. The company has a market capitalization of $3.84 billion, a price-to-earnings ratio of -9.62 and a beta of 1.70. The firm’s fifty day moving average price is $67.96 and its two-hundred day moving average price is $60.55. Scotts Miracle-Gro has a 1 year low of $43.67 and a 1 year high of $77.95.

Scotts Miracle-Gro Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 24th will be issued a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date of this dividend is Thursday, May 23rd. Scotts Miracle-Gro’s dividend payout ratio is -37.50%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Stifel Nicolaus lifted their price objective on shares of Scotts Miracle-Gro from $55.00 to $65.00 and gave the stock a “hold” rating in a report on Monday, March 4th. StockNews.com raised shares of Scotts Miracle-Gro from a “sell” rating to a “hold” rating in a report on Thursday, April 4th. Raymond James reissued a “market perform” rating on shares of Scotts Miracle-Gro in a report on Monday, March 25th. JPMorgan Chase & Co. boosted their price target on shares of Scotts Miracle-Gro from $70.00 to $85.00 and gave the stock an “overweight” rating in a report on Friday, April 5th. Finally, Truist Financial downgraded shares of Scotts Miracle-Gro from a “buy” rating to a “hold” rating and boosted their price target for the stock from $65.00 to $75.00 in a report on Friday, April 5th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $70.00.

Insider Activity

In other news, major shareholder Hagedorn Partnership, L.P. sold 15,000 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $58.40, for a total transaction of $876,000.00. Following the sale, the insider now directly owns 13,881,368 shares in the company, valued at $810,671,891.20. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Stephen L. Johnson sold 1,394 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $57.35, for a total value of $79,945.90. Following the transaction, the director now directly owns 22,918 shares in the company, valued at $1,314,347.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Hagedorn Partnership, L.P. sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $58.40, for a total transaction of $876,000.00. Following the completion of the transaction, the insider now owns 13,881,368 shares in the company, valued at $810,671,891.20. The disclosure for this sale can be found here. Insiders have sold a total of 102,750 shares of company stock worth $6,604,492 over the last ninety days. Company insiders own 26.46% of the company’s stock.

Scotts Miracle-Gro Company Profile

The Scotts Miracle-Gro Company, together with its subsidiaries, manufactures, markets, and sells products for lawn, garden care, and indoor and hydroponic gardening in the United States and internationally. It operates through three segments: U.S. Consumer, Hawthorne, and Other. The company provides lawn care products, comprising lawn fertilizers, grass seed products, spreaders, and other durable products, as well as lawn-related weed, pest, and disease control products; and gardening and landscape products, which include water-soluble and continuous-release plant foods, potting mixes, garden soils, mulches and ground cover products, plant-related pest and disease control products, organic garden products, and live goods and seeding solutions.