Brokerages Set The Scotts Miracle-Gro Company (NYSE:SMG) Price Target at $74.00

The Scotts Miracle-Gro Company (NYSE:SMG) has earned a consensus rating of “Moderate Buy” from the eight brokerages that are presently covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $74.00.

Several research firms have issued reports on SMG. Jefferies Financial Group restated a “buy” rating and issued a $79.00 price objective on shares of Scotts Miracle-Gro in a research note on Wednesday, April 29th. Stifel Nicolaus set a $76.00 price objective on Scotts Miracle-Gro in a research note on Tuesday, May 12th. UBS Group upped their price objective on Scotts Miracle-Gro from $67.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, April 30th. Weiss Ratings restated a “hold (c)” rating on shares of Scotts Miracle-Gro in a research note on Monday, May 4th. Finally, Wall Street Zen raised Scotts Miracle-Gro from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th.

Scotts Miracle-Gro Stock Performance

SMG opened at $58.71 on Thursday. Scotts Miracle-Gro has a 52-week low of $52.00 and a 52-week high of $72.35. The firm has a market capitalization of $3.42 billion, a PE ratio of 32.80 and a beta of 1.84. The business’s 50-day simple moving average is $61.95 and its 200 day simple moving average is $61.65.

Scotts Miracle-Gro (NYSE:SMG) last released its earnings results on Wednesday, April 29th. The basic materials company reported $4.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.97 by $0.56. Scotts Miracle-Gro had a negative return on equity of 79.61% and a net margin of 3.27%.The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same quarter in the prior year, the company posted $3.98 earnings per share. Scotts Miracle-Gro’s revenue was up 2.7% on a year-over-year basis. On average, research analysts forecast that Scotts Miracle-Gro will post 4.37 earnings per share for the current year.

Scotts Miracle-Gro Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Friday, May 22nd will be given a $0.66 dividend. The ex-dividend date of this dividend is Friday, May 22nd. This represents a $2.64 annualized dividend and a dividend yield of 4.5%. Scotts Miracle-Gro’s dividend payout ratio is presently 147.49%.

Hedge Funds Weigh In On Scotts Miracle-Gro

Several institutional investors and hedge funds have recently made changes to their positions in the company. Cassaday & Co Wealth Management LLC acquired a new stake in Scotts Miracle-Gro during the first quarter worth approximately $26,000. Key Capital Management INC acquired a new stake in Scotts Miracle-Gro during the fourth quarter worth approximately $29,000. Covestor Ltd grew its position in Scotts Miracle-Gro by 201.1% during the third quarter. Covestor Ltd now owns 527 shares of the basic materials company’s stock worth $30,000 after buying an additional 352 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Scotts Miracle-Gro during the third quarter worth approximately $32,000. Finally, Hantz Financial Services Inc. grew its position in Scotts Miracle-Gro by 157.3% during the third quarter. Hantz Financial Services Inc. now owns 584 shares of the basic materials company’s stock worth $33,000 after buying an additional 357 shares in the last quarter. Institutional investors and hedge funds own 74.07% of the company’s stock.

About Scotts Miracle-Gro

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.