The Scotts Miracle-Gro (NYSE:SMG) Updates FY 2021 After-Hours Earnings Guidance


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The Scotts Miracle-Gro (NYSE:SMG) issued an update on its FY 2021
After-Hours earnings guidance on Thursday morning. The company provided earnings per share guidance of 8.60-9.00 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $8.80. The company issued revenue guidance of $4.463-4.628 billion, compared to the consensus revenue estimate of $4.51 billion.

Shares of NYSE SMG traded up $2.31 during trading on Thursday, reaching $250.16. The company had a trading volume of 325,140 shares, compared to its average volume of 410,884. The Scotts Miracle-Gro has a 52 week low of $105.02 and a 52 week high of $254.34. The stock has a market cap of $13.93 billion, a PE ratio of 36.40 and a beta of 1.13. The company has a debt-to-equity ratio of 2.07, a quick ratio of 0.63 and a current ratio of 1.28. The business’s 50 day moving average price is $228.46 and its 200-day moving average price is $197.61.

The Scotts Miracle-Gro (NYSE:SMG) last announced its earnings results on Tuesday, February 2nd. The basic materials company reported $0.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.73) by $1.12. The Scotts Miracle-Gro had a net margin of 9.38% and a return on equity of 52.60%. The company had revenue of $748.60 million during the quarter, compared to the consensus estimate of $623.98 million. During the same period in the previous year, the firm posted ($1.12) earnings per share. The company’s revenue was up 104.6% on a year-over-year basis. Equities analysts anticipate that The Scotts Miracle-Gro will post 8.24 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 10th. Shareholders of record on Wednesday, February 24th were paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date was Tuesday, February 23rd. The Scotts Miracle-Gro’s dividend payout ratio is presently 34.25%.

SMG has been the subject of a number of recent research reports. Truist Financial boosted their price target on shares of The Scotts Miracle-Gro from $250.00 to $270.00 in a research note on Thursday, February 4th. Truist boosted their price target on shares of The Scotts Miracle-Gro from $180.00 to $250.00 in a research note on Thursday, January 7th. William Blair reissued an outperform rating on shares of The Scotts Miracle-Gro in a research note on Wednesday, February 3rd. Finally, Raymond James boosted their price target on shares of The Scotts Miracle-Gro from $274.00 to $290.00 and gave the stock a strong-buy rating in a research note on Thursday, February 4th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $228.00.

In related news, CEO James Hagedorn sold 14,544 shares of the business’s stock in a transaction that occurred on Thursday, February 4th. The shares were sold at an average price of $234.41, for a total transaction of $3,409,259.04. Also, Director Peter E. Shumlin sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, March 17th. The shares were sold at an average price of $232.56, for a total transaction of $348,840.00. Following the transaction, the director now owns 8,659 shares of the company’s stock, valued at approximately $2,013,737.04. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 82,784 shares of company stock valued at $19,619,256. Corporate insiders own 27.17% of the company’s stock.

About The 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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Earnings History and Estimates for The Scotts Miracle-Gro (NYSE:SMG)

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