$442.64 Million in Sales Expected for Scotts Miracle-Gro Co (SMG) This Quarter

Wall Street brokerages forecast that Scotts Miracle-Gro Co (NYSE:SMG) will report sales of $442.64 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Scotts Miracle-Gro’s earnings, with the lowest sales estimate coming in at $409.90 million and the highest estimate coming in at $461.10 million. Scotts Miracle-Gro reported sales of $376.70 million in the same quarter last year, which would suggest a positive year over year growth rate of 17.5%. The company is expected to announce its next quarterly earnings results on Tuesday, November 6th.

According to Zacks, analysts expect that Scotts Miracle-Gro will report full-year sales of $2.67 billion for the current fiscal year, with estimates ranging from $2.64 billion to $2.69 billion. For the next fiscal year, analysts expect that the firm will report sales of $2.97 billion, with estimates ranging from $2.92 billion to $3.00 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Scotts Miracle-Gro.

Scotts Miracle-Gro (NYSE:SMG) last announced its quarterly earnings data on Tuesday, July 31st. The basic materials company reported $2.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.55 by $0.12. Scotts Miracle-Gro had a return on equity of 43.37% and a net margin of 6.80%. The firm had revenue of $994.60 million for the quarter, compared to analysts’ expectations of $996.40 million. During the same period last year, the firm earned $2.57 earnings per share.

A number of brokerages have recently issued reports on SMG. ValuEngine cut Scotts Miracle-Gro from a “hold” rating to a “sell” rating in a research note on Thursday, June 21st. Bank of America reduced their price objective on Scotts Miracle-Gro from $77.00 to $72.00 and set a “sell” rating on the stock in a research note on Wednesday, August 1st. Raymond James cut Scotts Miracle-Gro from a “market perform” rating to an “underperform” rating in a research note on Wednesday, June 20th. JPMorgan Chase & Co. reduced their price objective on Scotts Miracle-Gro from $85.00 to $70.00 and set an “underweight” rating on the stock in a research note on Friday, August 24th. Finally, Zacks Investment Research raised Scotts Miracle-Gro from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 18th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. Scotts Miracle-Gro presently has a consensus rating of “Hold” and a consensus target price of $85.50.

Shares of NYSE:SMG traded down $0.49 on Friday, reaching $72.75. 527,133 shares of the company traded hands, compared to its average volume of 640,363. Scotts Miracle-Gro has a 52 week low of $71.78 and a 52 week high of $110.12. The stock has a market capitalization of $4.36 billion, a P/E ratio of 18.46, a price-to-earnings-growth ratio of 5.56 and a beta of 0.22. The company has a current ratio of 1.60, a quick ratio of 0.99 and a debt-to-equity ratio of 3.72.

In other news, Director Katherine Littlefield Hagedorn sold 40,329 shares of the stock in a transaction dated Tuesday, August 7th. The shares were sold at an average price of $77.76, for a total transaction of $3,135,983.04. Following the completion of the sale, the director now directly owns 6,511 shares in the company, valued at $506,295.36. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Nancy G. Mistretta sold 6,300 shares of the stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $76.93, for a total transaction of $484,659.00. Following the sale, the director now owns 20,824 shares of the company’s stock, valued at $1,601,990.32. The disclosure for this sale can be found here. Insiders have sold 91,422 shares of company stock worth $7,103,746 over the last ninety days. Insiders own 29.14% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in shares of Scotts Miracle-Gro during the second quarter worth about $112,000. Asset Management One Co. Ltd. purchased a new stake in shares of Scotts Miracle-Gro during the first quarter worth about $179,000. Atria Investments LLC purchased a new stake in shares of Scotts Miracle-Gro during the second quarter worth about $211,000. Outfitter Advisors LTD. purchased a new stake in shares of Scotts Miracle-Gro during the second quarter worth about $223,000. Finally, Stephens Inc. AR purchased a new stake in shares of Scotts Miracle-Gro during the second quarter worth about $256,000. Institutional investors own 65.42% of the company’s stock.

About Scotts Miracle-Gro

The Scotts Miracle-Gro Company manufactures, markets, and sells consumer lawn and garden products. The company operates through three segments: U.S. Consumer, Hawthorne, and Other. It offers lawn care products, including 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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Earnings History and Estimates for Scotts Miracle-Gro (NYSE:SMG)

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