Scotts Miracle-Gro (NYSE:SMG) Releases FY 2020 After-Hours Earnings Guidance

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Scotts Miracle-Gro (NYSE:SMG) issued an update on its FY 2020
After-Hours earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of 7.25-7.25 for the period, compared to the Thomson Reuters consensus estimate of $6.75. The company issued revenue guidance of $4.103 billion, compared to the consensus revenue estimate of $4.03 billion.Scotts Miracle-Gro also updated its FY20 guidance to approx $7.25 EPS.

Several research firms have issued reports on SMG. Raymond James reiterated a hold rating on shares of Scotts Miracle-Gro in a research report on Thursday, August 6th. SunTrust Banks increased their price target on shares of Scotts Miracle-Gro from $155.00 to $180.00 and gave the company a buy rating in a report on Thursday, July 30th. Finally, William Blair reissued a buy rating on shares of Scotts Miracle-Gro in a report on Tuesday, June 9th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $128.50.

Scotts Miracle-Gro stock opened at $160.57 on Wednesday. Scotts Miracle-Gro has a 12 month low of $76.50 and a 12 month high of $176.08. The stock’s 50-day moving average is $162.17 and its 200-day moving average is $134.41. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.61 and a quick ratio of 1.16. The company has a market cap of $8.95 billion, a price-to-earnings ratio of 28.17 and a beta of 1.05.

Scotts Miracle-Gro (NYSE:SMG) last announced its quarterly earnings results on Wednesday, July 29th. The basic materials company reported $3.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.37 by $0.43. The firm had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.33 billion. Scotts Miracle-Gro had a return on equity of 45.36% and a net margin of 8.71%. The firm’s quarterly revenue was up 27.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.11 EPS. Research analysts anticipate that Scotts Miracle-Gro will post 6.82 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Thursday, August 27th were given a dividend of $0.62 per share. The ex-dividend date of this dividend was Wednesday, August 26th. This is a positive change from Scotts Miracle-Gro’s previous quarterly dividend of $0.58. This represents a $2.48 annualized dividend and a yield of 1.54%. Scotts Miracle-Gro’s payout ratio is 55.48%.

In other Scotts Miracle-Gro news, Director Katherine Littlefield Hagedorn sold 289 shares of Scotts Miracle-Gro stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $130.24, for a total transaction of $37,639.36. Following the sale, the director now directly owns 5,980 shares in the company, valued at approximately $778,835.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Hagedorn Partnership, L.P. sold 82,379 shares of the company’s stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $132.68, for a total value of $10,930,045.72. Following the completion of the transaction, the insider now directly owns 14,874,809 shares in the company, valued at $1,973,589,658.12. The disclosure for this sale can be found here. Insiders sold 147,685 shares of company stock valued at $19,761,267 in the last ninety days. 28.20% of the stock is owned by corporate insiders.

About 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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