Scotts Miracle-Gro Company (The) (NYSE:SMG) - Stock analysts at Gabelli raised their FY2018 earnings estimates for shares of Scotts Miracle-Gro Company (The) in a research note issued on Wednesday. Gabelli analyst Z. Bodini now expects that the basic materials company will earn $4.55 per share for the year, up from their prior estimate of $4.50. Gabelli also issued estimates for Scotts Miracle-Gro Company (The)’s FY2021 earnings at $6.35 EPS.
Scotts Miracle-Gro Company (The) (NYSE:SMG) last issued its quarterly earnings results on Tuesday, August 1st. The basic materials company reported $2.63 EPS for the quarter, beating the consensus estimate of $2.51 by $0.12. Scotts Miracle-Gro Company (The) had a return on equity of 36.28% and a net margin of 7.85%. The firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same period in the prior year, the firm posted $2.16 earnings per share. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. COPYRIGHT VIOLATION WARNING: This article was originally reported by StockNewsTimes and is the sole property of of StockNewsTimes. If you are reading this article on another site, it was illegally stolen and reposted in violation of US and international copyright law. The original version of this article can be read at https://stocknewstimes.com/2017/08/04/scotts-miracle-gro-company-the-smg-to-post-fy2018-earnings-of-4-55-per-share-gabelli-forecasts.html.
SMG has been the subject of a number of other reports. BidaskClub raised Scotts Miracle-Gro Company (The) from a “sell” rating to a “hold” rating in a report on Thursday, July 13th. Zacks Investment Research lowered Scotts Miracle-Gro Company (The) from a “hold” rating to a “sell” rating in a report on Wednesday, May 3rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $97.00.
Shares of Scotts Miracle-Gro Company (NYSE SMG) traded up 1.32% on Friday, reaching $96.94. The company had a trading volume of 293,080 shares. The stock has a market cap of $5.74 billion, a PE ratio of 26.16 and a beta of 0.40. The stock has a 50-day moving average price of $91.45 and a 200-day moving average price of $91.50. Scotts Miracle-Gro Company has a 12 month low of $74.54 and a 12 month high of $99.91.
Several institutional investors have recently added to or reduced their stakes in the stock. Sit Investment Associates Inc. raised its position in Scotts Miracle-Gro Company (The) by 0.6% in the first quarter. Sit Investment Associates Inc. now owns 205,096 shares of the basic materials company’s stock valued at $19,154,000 after buying an additional 1,291 shares in the last quarter. Profund Advisors LLC raised its position in Scotts Miracle-Gro Company (The) by 1.8% in the first quarter. Profund Advisors LLC now owns 9,353 shares of the basic materials company’s stock valued at $873,000 after buying an additional 164 shares in the last quarter. IFC Holdings Incorporated FL raised its position in Scotts Miracle-Gro Company (The) by 1.9% in the first quarter. IFC Holdings Incorporated FL now owns 2,406 shares of the basic materials company’s stock valued at $223,000 after buying an additional 44 shares in the last quarter. Personal Capital Advisors Corp raised its position in Scotts Miracle-Gro Company (The) by 8.7% in the first quarter. Personal Capital Advisors Corp now owns 317,350 shares of the basic materials company’s stock valued at $29,628,000 after buying an additional 25,425 shares in the last quarter. Finally, Nationwide Fund Advisors raised its position in Scotts Miracle-Gro Company (The) by 8.2% in the first quarter. Nationwide Fund Advisors now owns 142,291 shares of the basic materials company’s stock valued at $13,289,000 after buying an additional 10,761 shares in the last quarter. 68.02% of the stock is owned by institutional investors.
In other news, EVP Denise Stump sold 22,615 shares of the company’s stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $95.05, for a total value of $2,149,555.75. Following the completion of the transaction, the executive vice president now directly owns 19,444 shares of the company’s stock, valued at $1,848,152.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Ivan C. Smith sold 3,787 shares of the company’s stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $87.84, for a total value of $332,650.08. Following the completion of the transaction, the executive vice president now directly owns 18,849 shares of the company’s stock, valued at $1,655,696.16. The disclosure for this sale can be found here. Insiders have sold a total of 50,038 shares of company stock valued at $4,587,090 over the last three months. Corporate insiders own 28.16% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Friday, August 25th will be issued a dividend of $0.53 per share. This is a positive change from Scotts Miracle-Gro Company (The)’s previous quarterly dividend of $0.50. This represents a $2.12 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend is Wednesday, August 23rd. Scotts Miracle-Gro Company (The)’s payout ratio is currently 52.49%.
Scotts Miracle-Gro Company (The) Company Profile
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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