The Scotts Miracle-Gro Company (NYSE:SMG) Receives Average Recommendation of “Moderate Buy” from Analysts

The Scotts Miracle-Gro Company (NYSE:SMG) has been given an average rating of “Moderate Buy” by the eight ratings firms that are presently covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $74.00.

SMG has been the topic of a number of analyst reports. Jefferies Financial Group reaffirmed a “buy” rating and set a $79.00 price objective on shares of Scotts Miracle-Gro in a report on Wednesday, April 29th. Stifel Nicolaus set a $76.00 price objective on Scotts Miracle-Gro in a research note on Tuesday, May 12th. UBS Group upped their price target on Scotts Miracle-Gro from $67.00 to $70.00 and gave the company a “neutral” rating in a research report on Thursday, April 30th. JPMorgan Chase & Co. cut Scotts Miracle-Gro from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $70.00 to $67.00 in a research report on Thursday, March 26th. Finally, Wells Fargo & Company decreased their price objective on shares of Scotts Miracle-Gro from $75.00 to $72.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 8th.

Scotts Miracle-Gro Stock Up 4.1%

NYSE:SMG opened at $61.29 on Thursday. The company has a fifty day moving average of $62.22 and a 200-day moving average of $61.60. The firm has a market capitalization of $3.57 billion, a P/E ratio of 34.24 and a beta of 1.88. Scotts Miracle-Gro has a twelve month low of $52.00 and a twelve month high of $72.35.

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

Scotts Miracle-Gro Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Friday, May 22nd will be paid a $0.66 dividend. The ex-dividend date of this dividend is Friday, May 22nd. This represents a $2.64 annualized dividend and a yield of 4.3%. Scotts Miracle-Gro’s dividend payout ratio is currently 147.49%.

Hedge Funds Weigh In On Scotts Miracle-Gro

A number of hedge funds and other institutional investors have recently made changes to their positions in SMG. Versor Investments LP acquired a new stake in Scotts Miracle-Gro during the third quarter worth $1,355,000. Elo Mutual Pension Insurance Co grew its stake in shares of Scotts Miracle-Gro by 101.4% in the third quarter. Elo Mutual Pension Insurance Co now owns 41,408 shares of the basic materials company’s stock valued at $2,358,000 after buying an additional 20,843 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Scotts Miracle-Gro by 21.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 155,498 shares of the basic materials company’s stock worth $8,856,000 after purchasing an additional 27,422 shares in the last quarter. SG Capital Management LLC acquired a new position in Scotts Miracle-Gro during the 3rd quarter worth $3,032,000. Finally, Sound Income Strategies LLC grew its stake in Scotts Miracle-Gro by 46.6% during the 4th quarter. Sound Income Strategies LLC now owns 230,966 shares of the basic materials company’s stock worth $14,692,000 after purchasing an additional 73,455 shares in the last quarter. Institutional investors own 74.07% of the company’s stock.

About Scotts Miracle-Gro

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.