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FY2022 Earnings Forecast for The Scotts Miracle-Gro Company Issued By William Blair (NYSE:SMG)

Defense World · Aug 6, 2022 03:51

The Scotts Miracle-Gro Company (NYSE:SMG – Get Rating) – Research analysts at William Blair dropped their FY2022 earnings per share (EPS) estimates for shares of Scotts Miracle-Gro in a report issued on Wednesday, August 3rd. William Blair analyst J. Andersen now expects that the basic materials company will earn $4.15 per share for the year, down from their previous forecast of $4.50. The consensus estimate for Scotts Miracle-Gro's current full-year earnings is $4.10 per share.

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Other analysts have also recently issued research reports about the stock. Wells Fargo & Company cut shares of Scotts Miracle-Gro from an "overweight" rating to an "equal weight" rating and cut their target price for the stock from $115.00 to $85.00 in a research note on Wednesday, June 22nd. Raymond James dropped their price objective on shares of Scotts Miracle-Gro from $110.00 to $100.00 and set a "strong-buy" rating on the stock in a research note on Thursday. UBS Group cut their price objective on shares of Scotts Miracle-Gro from $92.00 to $86.00 and set a "neutral" rating for the company in a research report on Wednesday. JPMorgan Chase & Co. downgraded shares of Scotts Miracle-Gro from an "overweight" rating to a "neutral" rating and decreased their target price for the company from $130.00 to $95.00 in a research note on Thursday, June 9th. Finally, Stifel Nicolaus reduced their price target on shares of Scotts Miracle-Gro from $116.00 to $93.00 in a research note on Tuesday, June 14th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $113.88.

Scotts Miracle-Gro Trading Up 0.6 %

NYSE:SMG opened at $80.75 on Friday. Scotts Miracle-Gro has a 12 month low of $72.58 and a 12 month high of $180.43. The firm has a fifty day simple moving average of $84.78 and a 200-day simple moving average of $109.25. The company has a current ratio of 2.42, a quick ratio of 1.13 and a debt-to-equity ratio of 7.55. The company has a market capitalization of $4.47 billion, a P/E ratio of -16.72 and a beta of 1.24.

Scotts Miracle-Gro (NYSE:SMG – Get Rating) last posted its quarterly earnings data on Wednesday, August 3rd. The basic materials company reported $1.98 earnings per share for the quarter, topping analysts' consensus estimates of $1.70 by $0.28. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.23 billion. Scotts Miracle-Gro had a negative net margin of 6.36% and a positive return on equity of 36.80%. The firm's revenue for the quarter was down 26.3% on a year-over-year basis. During the same period in the prior year, the company posted $3.98 EPS.

Institutional Trading of Scotts Miracle-Gro

Several hedge funds have recently bought and sold shares of the stock. Confluence Wealth Services Inc. bought a new position in shares of Scotts Miracle-Gro during the 4th quarter worth approximately $26,000. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Scotts Miracle-Gro by 84.3% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 212 shares of the basic materials company's stock valued at $26,000 after buying an additional 97 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in Scotts Miracle-Gro in the 1st quarter worth approximately $27,000. Byrne Asset Management LLC boosted its holdings in Scotts Miracle-Gro by 78.3% in the second quarter. Byrne Asset Management LLC now owns 353 shares of the basic materials company's stock worth $31,000 after acquiring an additional 155 shares in the last quarter. Finally, Ellevest Inc. raised its stake in shares of Scotts Miracle-Gro by 74.7% in the first quarter. Ellevest Inc. now owns 276 shares of the basic materials company's stock worth $34,000 after purchasing an additional 118 shares during the last quarter. 62.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Scotts Miracle-Gro

In related news, EVP James D. King sold 17,500 shares of Scotts Miracle-Gro stock in a transaction dated Tuesday, May 10th. The stock was sold at an average price of $98.42, for a total value of $1,722,350.00. Following the completion of the transaction, the executive vice president now owns 9,760 shares in the company, valued at approximately $960,579.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Scotts Miracle-Gro news, EVP James D. King sold 17,500 shares of the company's stock in a transaction on Tuesday, May 10th. The shares were sold at an average price of $98.42, for a total value of $1,722,350.00. Following the completion of the transaction, the executive vice president now owns 9,760 shares in the company, valued at $960,579.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO James Hagedorn sold 60,000 shares of the firm's stock in a transaction that occurred on Friday, May 13th. The stock was sold at an average price of $97.74, for a total transaction of $5,864,400.00. Following the transaction, the chief executive officer now directly owns 261,816 shares of the company's stock, valued at $25,589,895.84. The disclosure for this sale can be found here. Insiders own 27.31% of the company's stock.

Scotts Miracle-Gro Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 9th. Stockholders of record on Friday, August 26th will be issued a $0.66 dividend. The ex-dividend date of this dividend is Thursday, August 25th. This represents a $2.64 annualized dividend and a dividend yield of 3.27%. Scotts Miracle-Gro's payout ratio is -54.66%.

About Scotts Miracle-Gro

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The Scotts Miracle-Gro Company engages in the manufacture, marketing, and sale of products for lawn, garden care, and indoor and hydroponic gardening in the United States and internationally. The company operates through three segments: U.S. Consumer, Hawthorne, and Other. It provides lawn care products comprising lawn fertilizers, grass seed products, spreaders, other durable products, and outdoor cleaners, as well as lawn-related weed, pest, and disease control products; gardening and landscape products include water-soluble and continuous-release plant foods, potting mixes and garden soils, mulch and decorative groundcover products, plant-related pest and disease control products, organic garden products, and lives goods and seeding solutions.