Scotts Miracle-Gro Company (The) (NYSE:SMG) - Research analysts at William Blair upped their FY2017 earnings per share estimates for Scotts Miracle-Gro Company (The) in a research report issued to clients and investors on Tuesday. William Blair analyst J. Andersen now anticipates that the basic materials company will post earnings per share of $4.10 for the year, up from their previous forecast of $4.07. William Blair also issued estimates for Scotts Miracle-Gro Company (The)’s Q4 2017 earnings at ($0.38) 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 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.51 by $0.12. The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.06 billion. Scotts Miracle-Gro Company (The) had a return on equity of 36.28% and a net margin of 7.85%. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period in the prior year, the firm earned $2.16 earnings per share. COPYRIGHT VIOLATION NOTICE: This piece was originally published by StockNewsTimes and is owned by of StockNewsTimes. If you are viewing this piece on another website, it was stolen and republished in violation of United States and international trademark and copyright law. The legal version of this piece can be accessed at https://stocknewstimes.com/2017/08/05/scotts-miracle-gro-company-the-forecasted-to-earn-fy2017-earnings-of-4-10-per-share-smg.html.
A number of other equities research analysts have also weighed in on SMG. Zacks Investment Research lowered Scotts Miracle-Gro Company (The) from a “hold” rating to a “sell” rating in a research report on Wednesday, May 3rd. BidaskClub raised Scotts Miracle-Gro Company (The) from a “sell” rating to a “hold” rating in a research report on Thursday, July 13th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Scotts Miracle-Gro Company (The) presently has an average rating of “Buy” and an average price target of $101.00.
Shares of Scotts Miracle-Gro Company (NYSE:SMG) opened at 96.94 on Friday. The company 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 52 week low of $74.54 and a 52 week high of $99.91. The stock has a market capitalization of $5.74 billion, a PE ratio of 26.16 and a beta of 0.40.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Teachers Advisors LLC increased its position in shares of 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 increased 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 in the last quarter. Bank of Montreal Can increased 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 in the last quarter. Creative Planning increased 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 in the last quarter. Finally, Sei Investments Co. increased 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 in the last quarter. Institutional investors and hedge funds own 68.02% of the company’s stock.
In other news, insider Michael C. Lukemire sold 10,000 shares of Scotts Miracle-Gro Company (The) stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $89.31, for a total value of $893,100.00. Following the transaction, the insider now directly owns 50,269 shares in the company, valued at approximately $4,489,524.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Hagedorn Partnership, L.P. sold 4,259 shares of Scotts Miracle-Gro Company (The) stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $89.46, for a total value of $381,010.14. Following the completion of the transaction, the insider now owns 15,771,259 shares in the company, valued at $1,410,896,830.14. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 50,038 shares of company stock valued at $4,587,090. 28.16% of the stock is currently owned by corporate insiders.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Friday, August 25th will be given a dividend of $0.53 per share. The ex-dividend date is Wednesday, August 23rd. 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%. Scotts Miracle-Gro Company (The)’s payout ratio is 52.49%.
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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