Wall Street brokerages forecast that Scotts Miracle-Gro Company (The) (NYSE:SMG) will announce sales of $405.53 million for the current quarter, according to Zacks. Five analysts have provided estimates for Scotts Miracle-Gro Company (The)’s earnings. The lowest sales estimate is $389.93 million and the highest is $425.60 million. Scotts Miracle-Gro Company (The) reported sales of $402.30 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 0.8%. The company is scheduled to report its next quarterly earnings report on Thursday, November 2nd.

On average, analysts expect that Scotts Miracle-Gro Company (The) will report full year sales of $405.53 million for the current financial year, with estimates ranging from $2.92 billion to $2.96 billion. For the next fiscal year, analysts anticipate that the company will report sales of $2.89 billion per share, with estimates ranging from $2.76 billion to $3.10 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Scotts Miracle-Gro Company (The).

Scotts Miracle-Gro Company (The) (NYSE:SMG) last announced its quarterly earnings data on Tuesday, August 1st. The basic materials company reported $2.63 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the prior year, the firm earned $2.16 EPS. The company’s quarterly revenue was up 8.5% compared to the same quarter last year.

A number of equities analysts have recently weighed in on SMG shares. Zacks Investment Research cut shares of Scotts Miracle-Gro Company (The) from a “hold” rating to a “sell” rating in a research report on Wednesday, May 3rd. BidaskClub cut shares of Scotts Miracle-Gro Company (The) from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Finally, KeyCorp reissued a “hold” rating on shares of Scotts Miracle-Gro Company (The) in a research report on Monday. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $101.00.

In other Scotts Miracle-Gro Company (The) news, Chairman James Hagedorn sold 92,357 shares of Scotts Miracle-Gro Company (The) stock in a transaction on 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 in the company, valued at approximately $11,170,737.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Hagedorn Partnership, L.P. sold 32,000 shares of Scotts Miracle-Gro Company (The) stock in a transaction on Monday, August 28th. The shares were sold at an average price of $94.37, for a total transaction of $3,019,840.00. Following the completion of the sale, the insider now owns 15,759,274 shares in the company, valued at $1,487,202,687.38. The disclosure for this sale can be found here. Insiders sold a total of 238,859 shares of company stock worth $22,855,893 over the last ninety days. 28.16% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the stock. Wells Fargo & Company MN raised its stake 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 valued at $24,871,000 after buying an additional 8,960 shares during the last quarter. Bank of Montreal Can raised its stake 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 valued at $2,021,000 after buying an additional 1,248 shares during the last quarter. Creative Planning raised its stake 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 valued at $135,000 after buying an additional 60 shares during the last quarter. Sei Investments Co. raised its stake 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 valued at $5,240,000 after buying an additional 51,913 shares during the last quarter. Finally, Skylands Capital LLC raised its stake in shares of Scotts Miracle-Gro Company (The) by 7.9% in the second quarter. Skylands Capital LLC now owns 52,075 shares of the basic materials company’s stock valued at $4,659,000 after buying an additional 3,825 shares during the last quarter. Hedge funds and other institutional investors own 69.04% of the company’s stock.

Shares of Scotts Miracle-Gro Company (SMG) traded up 0.70% during midday trading on Monday, hitting $95.42. The stock had a trading volume of 170,926 shares. The stock has a market cap of $5.57 billion, a PE ratio of 25.75 and a beta of 0.40. Scotts Miracle-Gro Company has a 52 week low of $78.73 and a 52 week high of $99.91. The stock has a 50-day moving average of $94.66 and a 200 day moving average of $91.86.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Friday, August 25th will be given a $0.53 dividend. This is a boost from Scotts Miracle-Gro Company (The)’s previous quarterly dividend of $0.50. This represents a $2.12 annualized dividend and a yield of 2.24%. The ex-dividend date is Wednesday, August 23rd. Scotts Miracle-Gro Company (The)’s payout ratio is currently 55.64%.

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

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