Scotts Miracle-Gro (NYSE:SMG) Issues FY22 Earnings Guidance – Defense World

Scotts Miracle-Gro (NYSE:SMG – Get Rating) updated its FY22 earnings guidance on Wednesday. The company provided EPS guidance of $4.50-5.00 for the period, compared to the consensus EPS estimate of $7.00.

Several brokerages have recently issued reports on SMG. Stifel Nicolaus downgraded Scotts Miracle-Gro from a buy rating to a hold rating and reduced their price objective for the company from $130.00 to $116.00 in a research report on Wednesday, May 4th. Truist Financial downgraded Scotts Miracle-Gro from a buy rating to a hold rating and reduced their target price for the stock from $185.00 to $85.00 in a research report on Wednesday. Wells Fargo & Company reduced their target price on Scotts Miracle-Gro from $145.00 to $130.00 and set an overweight rating on the stock in a research report on Thursday, June 2nd. Barclays downgraded Scotts Miracle-Gro from an overweight rating to an equal weight rating and reduced their target price for the stock from $150.00 to $110.00 in a research report on Thursday, April 21st. Finally, JPMorgan Chase & Co. upgraded Scotts Miracle-Gro from a neutral rating to an overweight rating and reduced their target price for the stock from $150.00 to $130.00 in a research report on Wednesday, May 4th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, four have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Buy and an average price target of $147.33.

Scotts Miracle-Gro stock opened at $92.37 on Wednesday. The stock’s 50-day moving average is $105.32 and its 200-day moving average is $131.16. The company has a market cap of $5.12 billion, a price-to-earnings ratio of 14.35 and a beta of 1.19. The company has a debt-to-equity ratio of 3.44, a current ratio of 2.21 and a quick ratio of 1.13. Scotts Miracle-Gro has a 12 month low of $87.11 and a 12 month high of $206.99.

Scotts Miracle-Gro (NYSE:SMG – Get Rating) last released its quarterly earnings data on Tuesday, May 3rd. The basic materials company reported $5.03 EPS for the quarter, topping analysts’ consensus estimates of $4.69 by $0.34. The company had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.68 billion. Scotts Miracle-Gro had a return on equity of 42.22% and a net margin of 8.81%. The company’s quarterly revenue was down 8.2% compared to the same quarter last year. During the same period last year, the business posted $5.64 EPS. Research analysts anticipate that Scotts Miracle-Gro will post 7 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 10th. Stockholders of record on Friday, May 27th will be paid a $0.66 dividend. The ex-dividend date of this dividend is Thursday, May 26th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 2.86%. Scotts Miracle-Gro’s dividend payout ratio (DPR) is currently 37.08%.

In other news, CEO James Hagedorn sold 60,000 shares of the stock in a transaction dated Friday, May 13th. The stock was sold at an average price of $97.74, for a total value of $5,864,400.00. Following the completion of the sale, the chief executive officer now owns 261,816 shares in the company, valued at $25,589,895.84. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Stephen L. Johnson sold 2,305 shares of the stock in a transaction dated Wednesday, May 4th. The shares were sold at an average price of $113.36, for a total value of $261,294.80. Following the completion of the sale, the director now owns 20,233 shares of the company’s stock, valued at approximately $2,293,612.88. The disclosure for this sale can be found here. In the last quarter, insiders sold 79,805 shares of company stock valued at $7,848,045. Insiders own 27.31% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in Scotts Miracle-Gro by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 4,159,852 shares of the basic materials company’s stock valued at $511,495,000 after purchasing an additional 14,104 shares in the last quarter. BlackRock Inc. grew its stake in Scotts Miracle-Gro by 1.2% during the 1st quarter. BlackRock Inc. now owns 3,546,641 shares of the basic materials company’s stock valued at $436,095,000 after purchasing an additional 42,423 shares in the last quarter. State Street Corp grew its stake in Scotts Miracle-Gro by 5.9% during the 1st quarter. State Street Corp now owns 1,165,003 shares of the basic materials company’s stock valued at $143,249,000 after purchasing an additional 64,941 shares in the last quarter. Northern Trust Corp grew its stake in Scotts Miracle-Gro by 8.2% during the 1st quarter. Northern Trust Corp now owns 727,489 shares of the basic materials company’s stock valued at $89,454,000 after purchasing an additional 55,352 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Scotts Miracle-Gro by 4.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 517,817 shares of the basic materials company’s stock valued at $63,690,000 after purchasing an additional 19,890 shares in the last quarter. Hedge funds and other institutional investors own 62.23% of the company’s stock.

Scotts Miracle-Gro Company Profile (Get Rating)

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.

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Source: defenseworld.net