William Blair Equities Analysts Lift Earnings Estimates for Scotts Miracle-Gro Co (NYSE:SMG)

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Scotts Miracle-Gro Co (NYSE:SMG) – Equities researchers at William Blair increased their FY2021 earnings per share estimates for shares of Scotts Miracle-Gro in a report released on Tuesday, September 15th. William Blair analyst J. Andersen now expects that the basic materials company will earn $7.50 per share for the year, up from their previous forecast of $7.25. William Blair currently has a “Buy” rating on the stock.

Scotts Miracle-Gro (NYSE:SMG) last posted its quarterly earnings results on Wednesday, July 29th. The basic materials company reported $3.80 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.37 by $0.43. Scotts Miracle-Gro had a net margin of 8.71% and a return on equity of 45.36%. The firm had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same quarter in the prior year, the business posted $3.11 earnings per share. The company’s quarterly revenue was up 27.5% compared to the same quarter last year.

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

NYSE:SMG 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 company has a quick ratio of 1.16, a current ratio of 1.61 and a debt-to-equity ratio of 1.51. The firm has a market capitalization of $8.95 billion, a PE ratio of 28.17 and a beta of 1.05. The firm has a 50-day moving average price of $162.17 and a 200 day moving average price of $134.41.

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

In other news, Director Katherine Littlefield Hagedorn sold 289 shares of the stock in a transaction that occurred on Monday, June 29th. The shares were 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 of the company’s stock, valued at $778,835.20. The transaction was disclosed in a legal filing 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 stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $132.68, for a total transaction of $10,930,045.72. Following the sale, 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. In the last ninety days, insiders have sold 147,685 shares of company stock valued at $19,761,267. Company insiders own 28.20% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nicollet Investment Management Inc. grew its stake in shares of Scotts Miracle-Gro by 0.9% during the second quarter. Nicollet Investment Management Inc. now owns 7,474 shares of the basic materials company’s stock valued at $1,005,000 after purchasing an additional 70 shares during the last quarter. HighTower Advisors LLC boosted its stake in Scotts Miracle-Gro by 0.7% in the second quarter. HighTower Advisors LLC now owns 14,684 shares of the basic materials company’s stock valued at $1,972,000 after acquiring an additional 96 shares during the last quarter. Sowell Financial Services LLC boosted its stake in Scotts Miracle-Gro by 32.7% in the first quarter. Sowell Financial Services LLC now owns 475 shares of the basic materials company’s stock valued at $49,000 after acquiring an additional 117 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in Scotts Miracle-Gro by 62.8% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 311 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 120 shares during the last quarter. Finally, Pavion Blue Capital LLC boosted its stake in Scotts Miracle-Gro by 1.4% in the second quarter. Pavion Blue Capital LLC now owns 11,114 shares of the basic materials company’s stock valued at $1,495,000 after acquiring an additional 150 shares during the last quarter. 64.86% of the stock is currently owned by institutional investors and hedge funds.

Scotts Miracle-Gro Company Profile

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 Scotts Miracle-Gro (NYSE:SMG)

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