Scotts Miracle-Gro’s (SMG) “Hold” Rating Reaffirmed at KeyCorp
A number of other equities research analysts have also recently issued reports on the stock. J P Morgan Chase & Co cut shares of Scotts Miracle-Gro from an overweight rating to a neutral rating and set a $99.00 target price on the stock. in a report on Wednesday, November 8th. SunTrust Banks, Inc. reissued a hold rating and set a $95.00 target price on shares of Scotts Miracle-Gro in a report on Friday, November 10th. Zacks Investment Research cut shares of Scotts Miracle-Gro from a hold rating to a sell rating in a report on Wednesday, October 4th. Bank of America Corporation upped their price target on shares of Scotts Miracle-Gro from $107.00 to $110.00 and gave the stock a buy rating in a report on Wednesday, November 8th. Finally, BidaskClub raised shares of Scotts Miracle-Gro from a sell rating to a hold rating in a report on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. Scotts Miracle-Gro has an average rating of Hold and an average target price of $101.33.
Shares of Scotts Miracle-Gro (NYSE:SMG) opened at $97.77 on Friday. The company has a current ratio of 1.62, a quick ratio of 0.87 and a debt-to-equity ratio of 1.90. Scotts Miracle-Gro has a 1-year low of $81.48 and a 1-year high of $102.50. The stock has a market cap of $5,710.84, a price-to-earnings ratio of 23.33, a price-to-earnings-growth ratio of 2.31 and a beta of 0.37.
Scotts Miracle-Gro (NYSE:SMG) last issued its earnings results on Tuesday, November 7th. The basic materials company reported ($0.26) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.04. Scotts Miracle-Gro had a net margin of 7.51% and a return on equity of 37.81%. The business had revenue of $376.70 million for the quarter, compared to analysts’ expectations of $368.50 million. During the same quarter in the previous year, the firm posted ($0.30) EPS. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. equities research analysts forecast that Scotts Miracle-Gro will post 4.3 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 24th will be issued a $0.53 dividend. The ex-dividend date of this dividend is Wednesday, November 22nd. This represents a $2.12 annualized dividend and a dividend yield of 2.17%. Scotts Miracle-Gro’s payout ratio is currently 58.89%.
In related news, CFO Thomas Randal Coleman sold 1,226 shares of the company’s stock in a transaction on Thursday, October 5th. The shares were sold at an average price of $99.67, for a total value of $122,195.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ivan C. Smith sold 6,587 shares of the company’s stock in a transaction on Friday, November 17th. The stock was sold at an average price of $97.74, for a total transaction of $643,813.38. The disclosure for this sale can be found here. In the last ninety days, insiders sold 76,813 shares of company stock worth $7,305,119. Insiders own 28.16% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Almanack Investment Partners LLC. purchased a new position in Scotts Miracle-Gro in the second quarter worth $132,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Scotts Miracle-Gro by 7.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,664 shares of the basic materials company’s stock worth $149,000 after acquiring an additional 116 shares in the last quarter. Creative Planning grew its position in Scotts Miracle-Gro by 44.5% in the second quarter. Creative Planning now owns 2,097 shares of the basic materials company’s stock worth $188,000 after acquiring an additional 646 shares in the last quarter. First Allied Advisory Services Inc. purchased a new position in Scotts Miracle-Gro in the third quarter worth $226,000. Finally, Private Advisor Group LLC grew its position in Scotts Miracle-Gro by 9.0% in the second quarter. Private Advisor Group LLC now owns 2,620 shares of the basic materials company’s stock worth $239,000 after acquiring an additional 216 shares in the last quarter. Institutional investors own 69.04% of the company’s stock.
Scotts Miracle-Gro Company Profile
The Scotts Miracle-Gro Company (Scotts Miracle-Gro) is a manufacturer and marketer of branded consumer lawn and garden products. The Company’s segments include Global Consumer. In North America, its brands include Scotts and Turf Builder lawn and grass seed products; Miracle-Gro, Nature’s Care, Scotts, LiquaFeed and Osmocote gardening and landscape products; and Ortho, Roundup, Home Defense and Tomcat branded insect control, weed control and rodent control products.
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