The Scotts Miracle-Gro Company Declares Quarterly Dividend of $0.66 (NYSE:SMG)

The Scotts Miracle-Gro Company (NYSE:SMG) declared a quarterly dividend on Monday, January 26th. Shareholders of record on Friday, February 20th will be paid a dividend of 0.66 per share by the basic materials company on Friday, March 6th. This represents a c) dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend is Friday, February 20th.

Scotts Miracle-Gro has decreased its dividend by an average of 0.2%annually over the last three years. Scotts Miracle-Gro has a payout ratio of 62.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Scotts Miracle-Gro to earn $4.04 per share next year, which means the company should continue to be able to cover its $2.64 annual dividend with an expected future payout ratio of 65.3%.

Scotts Miracle-Gro Price Performance

Shares of SMG traded down $0.93 during trading hours on Tuesday, hitting $61.93. The company’s stock had a trading volume of 138,926 shares, compared to its average volume of 699,223. The business has a 50 day simple moving average of $58.27 and a two-hundred day simple moving average of $59.40. Scotts Miracle-Gro has a 52-week low of $45.61 and a 52-week high of $79.11. The company has a market cap of $3.59 billion, a price-to-earnings ratio of 25.64 and a beta of 1.95.

Scotts Miracle-Gro (NYSE:SMG) last released its quarterly earnings data on Wednesday, November 5th. The basic materials company reported ($1.96) EPS for the quarter, missing the consensus estimate of ($1.88) by ($0.08). Scotts Miracle-Gro had a negative return on equity of 67.74% and a net margin of 4.26%.The business had revenue of $387.30 million during the quarter, compared to the consensus estimate of $396.75 million. During the same period last year, the business posted ($2.31) earnings per share. The firm’s quarterly revenue was down 6.6% on a year-over-year basis. Scotts Miracle-Gro has set its FY 2025 guidance at 4.150-4.350 EPS. Research analysts predict that Scotts Miracle-Gro will post 3.42 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently issued reports on SMG shares. Jefferies Financial Group boosted their price objective on Scotts Miracle-Gro from $71.00 to $74.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Scotts Miracle-Gro in a research report on Wednesday, January 21st. Wall Street Zen downgraded shares of Scotts Miracle-Gro from a “buy” rating to a “hold” rating in a report on Saturday, October 25th. Stifel Nicolaus set a $70.00 price objective on shares of Scotts Miracle-Gro and gave the company a “buy” rating in a research report on Thursday, November 6th. Finally, UBS Group upped their target price on shares of Scotts Miracle-Gro from $61.00 to $66.00 and gave the stock a “neutral” rating in a report on Wednesday, January 14th. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $70.33.

Scotts Miracle-Gro Company Profile

Scotts Miracle-Gro Company is a leading developer, manufacturer and distributor of consumer lawn and garden products. The firm serves both retail and professional customers through an array of branded offerings that include lawn fertilizers, grass seed, pest and disease control solutions, plant foods and specialty products for indoor and outdoor gardening. Its portfolio spans well-known names such as Scotts®, Miracle-Gro®, Ortho® and various hydroponic and specialty garden brands.

Headquartered in Marysville, Ohio, the company traces its roots to O.M.