Scotts Miracle-Gro Company (The) (NYSE:SMG) - William Blair reduced their FY2017 EPS estimates for Scotts Miracle-Gro Company (The) in a research note issued on Thursday. William Blair analyst J. Andersen now forecasts that the basic materials company will post earnings per share of $4.07 for the year, down from their prior estimate of $4.10. William Blair also issued estimates for Scotts Miracle-Gro Company (The)’s FY2018 earnings at $4.40 EPS.
Scotts Miracle-Gro Company (The) (NYSE:SMG) last announced its quarterly earnings data on Tuesday, May 2nd. The basic materials company reported $2.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by $0.15. Scotts Miracle-Gro Company (The) had a net margin of 10.23% and a return on equity of 31.76%. The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same period last year, the business earned $3.15 earnings per share. The company’s quarterly revenue was down 3.3% compared to the same quarter last year. COPYRIGHT VIOLATION WARNING: This news story was first posted by StockNewsTimes and is the sole property of of StockNewsTimes. If you are viewing this news story on another domain, it was illegally stolen and reposted in violation of US and international copyright and trademark legislation. The correct version of this news story can be accessed at https://stocknewstimes.com/2017/07/23/scotts-miracle-gro-company-the-to-post-fy2017-earnings-of-4-07-per-share-william-blair-forecasts-smg.html.
Several other research analysts also recently weighed in on the company. Zacks Investment Research downgraded Scotts Miracle-Gro Company (The) from a “hold” rating to a “sell” rating in a research note on Wednesday, May 3rd. BidaskClub raised Scotts Miracle-Gro Company (The) from a “sell” rating to a “hold” rating in a research note on Thursday, July 13th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $97.00.
Shares of Scotts Miracle-Gro Company (NYSE SMG) opened at 93.44 on Friday. The stock has a market capitalization of $5.57 billion, a price-to-earnings ratio of 20.03 and a beta of 0.39. Scotts Miracle-Gro Company has a one year low of $73.13 and a one year high of $98.82. The firm’s 50-day moving average is $89.23 and its 200-day moving average is $91.50.
Institutional investors have recently added to or reduced their stakes in the company. Teachers Advisors LLC boosted its position in Scotts Miracle-Gro Company (The) by 469.9% in the fourth quarter. Teachers Advisors LLC now owns 219,410 shares of the basic materials company’s stock worth $20,965,000 after buying an additional 180,907 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Scotts Miracle-Gro Company (The) by 3.5% in the first quarter. Wells Fargo & Company MN now owns 266,326 shares of the basic materials company’s stock worth $24,871,000 after buying an additional 8,960 shares during the period. Bank of Montreal Can boosted its position in shares of Scotts Miracle-Gro Company (The) by 6.1% in the first quarter. Bank of Montreal Can now owns 21,637 shares of the basic materials company’s stock worth $2,021,000 after buying an additional 1,248 shares during the period. Creative Planning boosted its position in shares of Scotts Miracle-Gro Company (The) by 4.3% in the first quarter. Creative Planning now owns 1,451 shares of the basic materials company’s stock worth $135,000 after buying an additional 60 shares during the period. Finally, Sei Investments Co. boosted its position in shares of Scotts Miracle-Gro Company (The) by 1,238.4% in the first quarter. Sei Investments Co. now owns 56,105 shares of the basic materials company’s stock worth $5,240,000 after buying an additional 51,913 shares during the period. Institutional investors and hedge funds own 68.17% of the company’s stock.
In other news, major shareholder Hagedorn Partnership, L.P. sold 4,259 shares of the stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $89.46, for a total transaction of $381,010.14. Following the completion of the transaction, the insider now directly owns 15,771,259 shares in the company, valued at approximately $1,410,896,830.14. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Thomas Randal Coleman sold 5,112 shares of the stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $87.56, for a total value of $447,606.72. Following the transaction, the chief financial officer now owns 14,090 shares of the company’s stock, valued at $1,233,720.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 63,854 shares of company stock valued at $5,662,079. 28.16% of the stock is owned by corporate insiders.
About Scotts Miracle-Gro Company (The)
The Scotts Miracle-Gro Company (Scotts Miracle-Gro) is a manufacturer and marketer of branded consumer lawn and garden products. The Company’s segments include Global Consumer. In North America, its brands include Scotts and Turf Builder lawn and grass seed products; Miracle-Gro, Nature’s Care, Scotts, LiquaFeed and Osmocote gardening and landscape products; and Ortho, Roundup, Home Defense and Tomcat branded insect control, weed control and rodent control products.
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