Brokers Issue Forecasts for Scotts Miracle-Gro Co’s FY2020 Earnings (NYSE:SMG)
Scotts Miracle-Gro Co (NYSE:SMG) – William Blair upped their FY2020 earnings estimates for Scotts Miracle-Gro in a research note issued to investors on Wednesday, November 6th. William Blair analyst J. Andersen now anticipates that the basic materials company will earn $4.95 per share for the year, up from their previous forecast of $4.75. William Blair also issued estimates for Scotts Miracle-Gro’s FY2021 earnings at $5.35 EPS.
Scotts Miracle-Gro (NYSE:SMG) last posted its quarterly earnings results on Wednesday, November 6th. The basic materials company reported ($0.91) EPS for the quarter, missing the consensus estimate of ($0.87) by ($0.04). Scotts Miracle-Gro had a net margin of 12.02% and a return on equity of 51.15%. The company had revenue of $497.70 million for the quarter, compared to analysts’ expectations of $451.49 million. During the same quarter in the prior year, the firm earned ($0.75) earnings per share. The company’s revenue was up 14.7% on a year-over-year basis.
NYSE:SMG traded up $2.68 during trading hours on Friday, reaching $104.64. The company’s stock had a trading volume of 340,460 shares, compared to its average volume of 482,188. The company has a market cap of $5.40 billion, a price-to-earnings ratio of 23.41, a price-to-earnings-growth ratio of 1.70 and a beta of 0.79. Scotts Miracle-Gro has a one year low of $57.96 and a one year high of $114.63. The business’s 50-day moving average is $100.90 and its 200-day moving average is $99.14. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.45 and a quick ratio of 0.90.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 26th will be issued a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date is Monday, November 25th. Scotts Miracle-Gro’s dividend payout ratio is presently 51.90%.
In other Scotts Miracle-Gro news, Director Nancy G. Mistretta sold 2,500 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $107.98, for a total transaction of $269,950.00. Following the completion of the transaction, the director now owns 18,454 shares of the company’s stock, valued at approximately $1,992,662.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Thomas N. Kelly, Jr. sold 6,167 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $111.91, for a total transaction of $690,148.97. Following the transaction, the director now directly owns 18,811 shares of the company’s stock, valued at approximately $2,105,139.01. The disclosure for this sale can be found here. Corporate insiders own 30.37% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the business. Municipal Employees Retirement System of Michigan raised its position in shares of Scotts Miracle-Gro by 1.5% during the second quarter. Municipal Employees Retirement System of Michigan now owns 7,270 shares of the basic materials company’s stock valued at $716,000 after buying an additional 110 shares during the last quarter. Charter Trust Co. raised its position in shares of Scotts Miracle-Gro by 4.0% during the second quarter. Charter Trust Co. now owns 2,989 shares of the basic materials company’s stock valued at $294,000 after buying an additional 115 shares during the last quarter. Curbstone Financial Management Corp raised its position in shares of Scotts Miracle-Gro by 1.7% during the second quarter. Curbstone Financial Management Corp now owns 7,630 shares of the basic materials company’s stock valued at $752,000 after buying an additional 130 shares during the last quarter. United Capital Financial Advisers LLC raised its position in shares of Scotts Miracle-Gro by 0.9% during the second quarter. United Capital Financial Advisers LLC now owns 16,395 shares of the basic materials company’s stock valued at $1,615,000 after buying an additional 145 shares during the last quarter. Finally, Sigma Planning Corp raised its position in shares of Scotts Miracle-Gro by 5.4% during the third quarter. Sigma Planning Corp now owns 2,872 shares of the basic materials company’s stock valued at $292,000 after buying an additional 146 shares during the last quarter. 66.52% of the stock is owned by hedge funds and other 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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