$365.38 Million in Sales Expected for Scotts Miracle-Gro Company (The) (SMG) This Quarter

Wall Street analysts predict that Scotts Miracle-Gro Company (The) (NYSE:SMG) will post sales of $365.38 million for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Scotts Miracle-Gro Company (The)’s earnings, with the lowest sales estimate coming in at $350.40 million and the highest estimate coming in at $375.80 million. Scotts Miracle-Gro Company (The) posted sales of $402.30 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 9.2%. The firm is scheduled to issue its next earnings results on Thursday, November 2nd.

On average, analysts expect that Scotts Miracle-Gro Company (The) will report full year sales of $365.38 million for the current year, with estimates ranging from $2.62 billion to $2.64 billion. For the next year, analysts forecast that the company will report sales of $2.75 billion per share, with estimates ranging from $2.72 billion to $2.77 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Scotts Miracle-Gro Company (The).

Scotts Miracle-Gro Company (The) (NYSE:SMG) last posted its quarterly earnings results on Tuesday, August 1st. The basic materials company reported $2.63 earnings per share for the quarter, topping the consensus estimate of $2.51 by $0.12. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.16 EPS.

A number of research firms recently commented on SMG. KeyCorp reiterated a “hold” rating on shares of Scotts Miracle-Gro Company (The) in a research report on Monday, October 16th. Zacks Investment Research cut Scotts Miracle-Gro Company (The) from a “hold” rating to a “sell” rating in a research report on Wednesday, October 4th. Finally, BidaskClub upgraded Scotts Miracle-Gro Company (The) from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $100.00.

Scotts Miracle-Gro Company (SMG) traded down 0.07% on Monday, hitting $99.42. The stock had a trading volume of 190,249 shares. The company has a market capitalization of $5.81 billion, a price-to-earnings ratio of 26.83 and a beta of 0.39. The firm has a 50-day moving average of $97.29 and a 200 day moving average of $93.27. Scotts Miracle-Gro Company has a 52 week low of $81.48 and a 52 week high of $101.00.

In other Scotts Miracle-Gro Company (The) news, Director Nancy G. Mistretta sold 5,000 shares of the business’s stock in a transaction dated Friday, October 13th. The stock was sold at an average price of $100.11, for a total transaction of $500,550.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman James Hagedorn sold 92,357 shares of the business’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $96.41, for a total value of $8,904,138.37. Following the sale, the chairman now directly owns 115,867 shares of the company’s stock, valued at approximately $11,170,737.47. The disclosure for this sale can be found here. In the last quarter, insiders have sold 238,470 shares of company stock valued at $22,837,882. 28.16% of the stock is owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the business. World Asset Management Inc grew its holdings in Scotts Miracle-Gro Company (The) by 0.5% during the second quarter. World Asset Management Inc now owns 3,135 shares of the basic materials company’s stock valued at $280,000 after purchasing an additional 17 shares during the period. US Bancorp DE grew its holdings in Scotts Miracle-Gro Company (The) by 0.3% during the second quarter. US Bancorp DE now owns 15,101 shares of the basic materials company’s stock valued at $1,351,000 after purchasing an additional 49 shares during the period. Teacher Retirement System of Texas grew its holdings in Scotts Miracle-Gro Company (The) by 1.6% during the second quarter. Teacher Retirement System of Texas now owns 3,590 shares of the basic materials company’s stock valued at $321,000 after purchasing an additional 57 shares during the period. Ameritas Investment Partners Inc. grew its holdings in Scotts Miracle-Gro Company (The) by 0.5% during the second quarter. Ameritas Investment Partners Inc. now owns 13,733 shares of the basic materials company’s stock valued at $1,228,000 after purchasing an additional 67 shares during the period. Finally, Delta Asset Management LLC TN grew its holdings in Scotts Miracle-Gro Company (The) by 3.8% during the second quarter. Delta Asset Management LLC TN now owns 2,025 shares of the basic materials company’s stock valued at $181,000 after purchasing an additional 75 shares during the period. 68.95% of the stock is owned by institutional investors and hedge funds.

COPYRIGHT VIOLATION WARNING: “$365.38 Million in Sales Expected for Scotts Miracle-Gro Company (The) (SMG) This Quarter” was published by StockNewsTimes and is owned by of StockNewsTimes. If you are reading this report on another publication, it was illegally stolen and reposted in violation of U.S. & international trademark and copyright law. The correct version of this report can be read at https://stocknewstimes.com/2017/11/11/365-38-million-in-sales-expected-for-scotts-miracle-gro-company-the-smg-this-quarter.html.

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.

Get a free copy of the Zacks research report on Scotts Miracle-Gro Company (The) (SMG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Scotts Miracle-Gro Company (The) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Scotts Miracle-Gro Company (The) and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply