The Scotts Miracle-Gro Company (NYSE:SMG) – Analysts at Truist Securities dropped their Q1 2022 earnings per share estimates for shares of Scotts Miracle-Gro in a research note issued to investors on Tuesday, January 11th. Truist Securities analyst W. Chappell now forecasts that the basic materials company will post earnings per share of ($0.71) for the quarter, down from their prior estimate of ($0.24). Truist Securities has a “Buy” rating and a $225.00 price target on the stock. Truist Securities also issued estimates for Scotts Miracle-Gro’s Q2 2022 earnings at $4.70 EPS, Q4 2022 earnings at ($0.35) EPS and FY2022 earnings at $8.51 EPS.
A number of other brokerages have also recently issued reports on SMG. Barclays started coverage on Scotts Miracle-Gro in a report on Thursday, November 18th. They issued an “overweight” rating and a $205.00 target price for the company. Raymond James dropped their target price on Scotts Miracle-Gro from $200.00 to $195.00 and set a “strong-buy” rating for the company in a report on Wednesday, January 5th. Wells Fargo & Company started coverage on Scotts Miracle-Gro in a report on Monday, December 6th. They issued an “overweight” rating and a $180.00 target price for the company. Finally, Truist dropped their price target on Scotts Miracle-Gro from $250.00 to $225.00 and set a “buy” rating for the company in a report on Tuesday, September 28th. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $220.00.
Scotts Miracle-Gro (NYSE:SMG) last announced its quarterly earnings data on Wednesday, November 3rd. The basic materials company reported ($0.82) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.84) by $0.02. Scotts Miracle-Gro had a return on equity of 56.20% and a net margin of 10.41%. The company had revenue of $737.80 million during the quarter, compared to the consensus estimate of $695.38 million. During the same quarter last year, the company earned $0.06 EPS. The company’s quarterly revenue was down 17.1% on a year-over-year basis.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Berman Capital Advisors LLC increased its stake in shares of Scotts Miracle-Gro by 124.7% in the 2nd quarter. Berman Capital Advisors LLC now owns 164 shares of the basic materials company’s stock valued at $31,000 after buying an additional 91 shares during the period. Jones Financial Companies Lllp increased its stake in shares of Scotts Miracle-Gro by 101.2% in the 2nd quarter. Jones Financial Companies Lllp now owns 167 shares of the basic materials company’s stock valued at $32,000 after buying an additional 84 shares during the period. Vigilant Capital Management LLC acquired a new stake in shares of Scotts Miracle-Gro in the 3rd quarter valued at $26,000. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Scotts Miracle-Gro by 289.8% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 191 shares of the basic materials company’s stock valued at $37,000 after buying an additional 142 shares during the period. Finally, Wolff Wiese Magana LLC increased its stake in shares of Scotts Miracle-Gro by 134.9% in the 3rd quarter. Wolff Wiese Magana LLC now owns 195 shares of the basic materials company’s stock valued at $29,000 after buying an additional 112 shares during the period. 61.35% of the stock is owned by institutional investors.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 10th. Investors of record on Monday, November 29th were issued a dividend of $0.66 per share. The ex-dividend date of this dividend was Friday, November 26th. This represents a $2.64 dividend on an annualized basis and a yield of 1.61%. Scotts Miracle-Gro’s dividend payout ratio is 29.53%.
Scotts Miracle-Gro Company Profile
Scotts Miracle-Gro Co engages in the manufacture, marketing, and distribution of systems and accessories for hydroponic gardening. It operates through the following segments: U.S. Consumer, Hawthorne, and Other. The U.S. Consumer segment consists of consumer lawn and garden business. The Hawthorn segment includes indoor, urban, and hydroponic gardening business.
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