Wall Street brokerages forecast that Scotts Miracle-Gro Co (NYSE:SMG) will announce sales of $347.73 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Scotts Miracle-Gro’s earnings, with estimates ranging from $340.10 million to $352.00 million. Scotts Miracle-Gro posted sales of $298.10 million in the same quarter last year, which suggests a positive year over year growth rate of 16.6%. The business is expected to report its next earnings results on Wednesday, January 29th.

On average, analysts expect that Scotts Miracle-Gro will report full-year sales of $3.30 billion for the current financial year, with estimates ranging from $3.27 billion to $3.33 billion. For the next financial year, analysts expect that the firm will post sales of $3.41 billion, with estimates ranging from $3.39 billion to $3.46 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Scotts Miracle-Gro.

Scotts Miracle-Gro (NYSE:SMG) last posted its quarterly earnings results on Wednesday, November 6th. The basic materials company reported ($0.91) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.87) by ($0.04). The company had revenue of $497.70 million for the quarter, compared to the consensus estimate of $451.49 million. Scotts Miracle-Gro had a net margin of 14.59% and a return on equity of 41.87%. The business’s revenue was up 14.7% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.75) EPS.

A number of brokerages have weighed in on SMG. ValuEngine lowered Scotts Miracle-Gro from a “hold” rating to a “sell” rating in a research report on Tuesday, December 3rd. Bank of America raised Scotts Miracle-Gro from a “neutral” rating to a “buy” rating and set a $108.00 price target on the stock in a research report on Friday, October 25th. Finally, Zacks Investment Research lowered Scotts Miracle-Gro from a “buy” rating to a “hold” rating and set a $117.00 price target on the stock. in a research note on Tuesday, October 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $98.42.

NYSE:SMG traded up $1.80 during midday trading on Tuesday, hitting $102.33. The stock had a trading volume of 303,832 shares, compared to its average volume of 333,757. The stock has a 50-day moving average of $101.46 and a 200 day moving average of $101.32. The company has a market capitalization of $5.61 billion, a price-to-earnings ratio of 22.89, a PEG ratio of 2.03 and a beta of 0.78. Scotts Miracle-Gro has a one year low of $57.96 and a one year high of $114.63. The company has a quick ratio of 0.81, a current ratio of 1.68 and a debt-to-equity ratio of 2.11.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th will be issued a $0.58 dividend. The ex-dividend date is Monday, November 25th. This represents a $2.32 annualized dividend and a dividend yield of 2.27%. Scotts Miracle-Gro’s dividend payout ratio is currently 51.90%.

In other news, COO Michael C. Lukemire sold 9,788 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $106.26, for a total value of $1,040,072.88. Following the completion of the transaction, the chief operating officer now directly owns 45,321 shares of the company’s stock, valued at approximately $4,815,809.46. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Denise Stump sold 2,249 shares of the business’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $105.92, for a total value of $238,214.08. Following the completion of the transaction, the executive vice president now directly owns 11,211 shares of the company’s stock, valued at $1,187,469.12. The disclosure for this sale can be found here. 30.37% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of SMG. Vanguard Group Inc. raised its holdings in Scotts Miracle-Gro by 3.2% in the second quarter. Vanguard Group Inc. now owns 3,943,112 shares of the basic materials company’s stock worth $388,396,000 after purchasing an additional 121,764 shares in the last quarter. BlackRock Inc. raised its stake in shares of Scotts Miracle-Gro by 1.4% during the 2nd quarter. BlackRock Inc. now owns 3,715,918 shares of the basic materials company’s stock worth $366,019,000 after acquiring an additional 51,091 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of Scotts Miracle-Gro by 2.6% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,618,470 shares of the basic materials company’s stock worth $257,920,000 after acquiring an additional 65,413 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Scotts Miracle-Gro by 1.5% during the second quarter. Bank of New York Mellon Corp now owns 705,605 shares of the basic materials company’s stock valued at $69,502,000 after acquiring an additional 10,549 shares during the last quarter. Finally, Macquarie Group Ltd. lifted its position in Scotts Miracle-Gro by 1.8% during the second quarter. Macquarie Group Ltd. now owns 508,160 shares of the basic materials company’s stock valued at $50,054,000 after acquiring an additional 8,778 shares during the last quarter. 66.82% of the stock is currently owned by institutional investors.

About Scotts Miracle-Gro

The Scotts Miracle-Gro Company manufactures, markets, and sells consumer lawn and garden products in the United States and internationally. The company operates through three segments: U.S. Consumer, Hawthorne, and Other. It offers lawn care products, such as lawn fertilizers, grass seed products, spreaders, other durable products, and outdoor cleaners, as well as lawn-related weed, pest, and disease control products.

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

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