Wall Street brokerages expect that Scotts Miracle-Gro Company (The) (NYSE:SMG) will post sales of $405.53 million for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Scotts Miracle-Gro Company (The)’s earnings, with the highest sales estimate coming in at $425.60 million and the lowest estimate coming in at $389.93 million. Scotts Miracle-Gro Company (The) posted sales of $402.30 million during the same quarter last year, which would suggest a positive year over year growth rate of 0.8%. The business is scheduled to report its next quarterly earnings results on Thursday, November 2nd.

According to Zacks, analysts expect that Scotts Miracle-Gro Company (The) will report full year sales of $405.53 million for the current year, with estimates ranging from $2.92 billion to $2.96 billion. For the next financial year, analysts expect that the business will report sales of $2.89 billion per share, with estimates ranging from $2.76 billion to $3.10 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Scotts Miracle-Gro Company (The).

Scotts Miracle-Gro Company (The) (NYSE:SMG) last posted its quarterly earnings data on Tuesday, August 1st. The basic materials company reported $2.63 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.51 by $0.12. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.06 billion. Scotts Miracle-Gro Company (The) had a return on equity of 36.28% and a net margin of 7.85%. The company’s revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the company earned $2.16 earnings per share.

A number of equities research analysts have recently weighed in on SMG shares. Zacks Investment Research downgraded Scotts Miracle-Gro Company (The) from a “hold” rating to a “sell” rating in a report on Wednesday, May 3rd. BidaskClub upgraded Scotts Miracle-Gro Company (The) from a “sell” rating to a “hold” rating in a report on Thursday, July 13th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $101.00.

Shares of Scotts Miracle-Gro Company (NYSE:SMG) opened at 96.01 on Thursday. Scotts Miracle-Gro Company has a 12-month low of $78.73 and a 12-month high of $99.91. The stock has a 50 day moving average price of $92.77 and a 200 day moving average price of $91.64. The firm has a market capitalization of $5.68 billion, a P/E ratio of 25.91 and a beta of 0.40.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Friday, August 25th will be given a dividend of $0.53 per share. The ex-dividend date is Wednesday, August 23rd. This represents a $2.12 dividend on an annualized basis and a yield of 2.21%. This is a positive change from Scotts Miracle-Gro Company (The)’s previous quarterly dividend of $0.50. Scotts Miracle-Gro Company (The)’s payout ratio is currently 52.49%.

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In related news, EVP Ivan C. Smith sold 3,787 shares of the business’s stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $87.84, for a total transaction of $332,650.08. Following the completion of the transaction, the executive vice president now owns 18,849 shares in the company, valued at approximately $1,655,696.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Denise Stump sold 22,615 shares of the business’s stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $95.05, for a total value of $2,149,555.75. Following the transaction, the executive vice president now owns 19,444 shares of the company’s stock, valued at approximately $1,848,152.20. The disclosure for this sale can be found here. Insiders have sold a total of 31,514 shares of company stock valued at $2,929,813 in the last 90 days. Insiders own 28.16% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Teachers Advisors LLC raised its position in Scotts Miracle-Gro Company (The) by 469.9% in the fourth quarter. Teachers Advisors LLC now owns 219,410 shares of the basic materials company’s stock worth $20,965,000 after buying an additional 180,907 shares in the last quarter. CENTRAL TRUST Co raised its position in Scotts Miracle-Gro Company (The) by 10.1% in the first quarter. CENTRAL TRUST Co now owns 1,640 shares of the basic materials company’s stock worth $153,000 after buying an additional 150 shares in the last quarter. Creative Planning raised its position in Scotts Miracle-Gro Company (The) by 4.3% in the first quarter. Creative Planning now owns 1,451 shares of the basic materials company’s stock worth $135,000 after buying an additional 60 shares in the last quarter. Bank of Montreal Can raised its position in Scotts Miracle-Gro Company (The) by 6.1% in the first quarter. Bank of Montreal Can now owns 21,637 shares of the basic materials company’s stock worth $2,021,000 after buying an additional 1,248 shares in the last quarter. Finally, Louisiana State Employees Retirement System raised its position in Scotts Miracle-Gro Company (The) by 1.8% in the first quarter. Louisiana State Employees Retirement System now owns 11,200 shares of the basic materials company’s stock worth $1,046,000 after buying an additional 200 shares in the last quarter. Institutional investors and hedge funds own 68.04% of the company’s stock.

About Scotts Miracle-Gro Company (The)

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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Earnings History and Estimates for Scotts Miracle-Gro Company (The) (NYSE:SMG)

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