FY2024 Earnings Forecast for The Scotts Miracle-Gro Company (NYSE:SMG) Issued By William Blair

The Scotts Miracle-Gro Company (NYSE:SMG) – Equities research analysts at William Blair reduced their FY2024 earnings per share (EPS) estimates for Scotts Miracle-Gro in a research note issued to investors on Wednesday, May 1st. William Blair analyst J. Andersen now anticipates that the basic materials company will earn $2.65 per share for the year, down from their previous forecast of $2.75. The consensus estimate for Scotts Miracle-Gro’s current full-year earnings is $2.69 per share. William Blair also issued estimates for Scotts Miracle-Gro’s FY2025 earnings at $3.48 EPS.

Scotts Miracle-Gro (NYSE:SMG) last posted its quarterly earnings data on Wednesday, May 1st. The basic materials company reported $3.69 EPS for the quarter, beating analysts’ consensus estimates of $3.33 by $0.36. The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.50 billion. Scotts Miracle-Gro had a negative net margin of 10.14% and a negative return on equity of 20.97%. The company’s quarterly revenue was down .4% on a year-over-year basis. During the same period in the prior year, the firm posted $3.78 EPS.

Other equities analysts have also issued reports about the company. Truist Financial lowered Scotts Miracle-Gro from a “buy” rating to a “hold” rating and upped their target price for the stock from $65.00 to $75.00 in a research report on Friday, April 5th. JPMorgan Chase & Co. increased their price target on Scotts Miracle-Gro from $70.00 to $85.00 and gave the company an “overweight” rating in a research report on Friday, April 5th. Raymond James reaffirmed a “market perform” rating on shares of Scotts Miracle-Gro in a research report on Monday, March 25th. StockNews.com upgraded Scotts Miracle-Gro from a “sell” rating to a “hold” rating in a research note on Thursday, April 4th. Finally, Wells Fargo & Company cut their price target on Scotts Miracle-Gro from $85.00 to $83.00 and set an “overweight” rating for the company in a research note on Thursday. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $72.57.

Scotts Miracle-Gro Stock Performance

Scotts Miracle-Gro stock opened at $69.71 on Friday. The stock has a market capitalization of $3.95 billion, a price-to-earnings ratio of -11.00 and a beta of 1.70. Scotts Miracle-Gro has a 52-week low of $43.67 and a 52-week high of $77.95. The stock’s 50 day moving average price is $68.83 and its two-hundred day moving average price is $60.96.

Hedge Funds Weigh In On Scotts Miracle-Gro

A number of large investors have recently bought and sold shares of SMG. Rise Advisors LLC increased its stake in Scotts Miracle-Gro by 135.2% in the 1st quarter. Rise Advisors LLC now owns 334 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 192 shares during the period. GAMMA Investing LLC purchased a new position in Scotts Miracle-Gro in the 4th quarter worth approximately $29,000. Frazier Financial Advisors LLC purchased a new position in Scotts Miracle-Gro in the 4th quarter worth approximately $36,000. Bruce G. Allen Investments LLC purchased a new position in Scotts Miracle-Gro in the 4th quarter worth approximately $47,000. Finally, Headlands Technologies LLC purchased a new position in Scotts Miracle-Gro in the 3rd quarter worth approximately $52,000. 74.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, major shareholder Hagedorn Partnership, L.P. sold 15,000 shares of Scotts Miracle-Gro 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 completion of the sale, the insider now owns 13,881,368 shares in the company, valued at approximately $810,671,891.20. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Stephen L. Johnson sold 1,394 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $57.35, for a total transaction of $79,945.90. Following the transaction, the director now directly owns 22,918 shares of the company’s stock, valued at approximately $1,314,347.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Hagedorn Partnership, L.P. sold 15,000 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $58.40, for a total value of $876,000.00. Following the transaction, the insider now directly owns 13,881,368 shares in the company, valued at $810,671,891.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 102,750 shares of company stock worth $6,604,492. 26.46% of the stock is currently owned by insiders.

Scotts Miracle-Gro Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 24th will be given a dividend of $0.66 per share. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.79%. Scotts Miracle-Gro’s dividend payout ratio (DPR) is presently -42.31%.

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.