The Scotts Miracle-Gro Company to Post FY2024 Earnings of $2.50 Per Share, William Blair Forecasts (NYSE:SMG)

The Scotts Miracle-Gro Company (NYSE:SMG) – Stock analysts at William Blair cut their FY2024 earnings per share estimates for Scotts Miracle-Gro in a report released on Wednesday, July 31st. William Blair analyst J. Andersen now forecasts that the basic materials company will earn $2.50 per share for the year, down from their previous estimate of $2.55. The consensus estimate for Scotts Miracle-Gro’s current full-year earnings is $2.54 per share. William Blair also issued estimates for Scotts Miracle-Gro’s FY2025 earnings at $3.25 EPS.

Scotts Miracle-Gro (NYSE:SMG) last announced its earnings results on Wednesday, July 31st. The basic materials company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.42. Scotts Miracle-Gro had a negative return on equity of 41.19% and a negative net margin of 7.38%. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the previous year, the business earned $1.17 EPS. The firm’s revenue for the quarter was up 7.5% on a year-over-year basis.

Other equities analysts have also recently issued research reports about the stock. Stifel Nicolaus lifted their price objective on shares of Scotts Miracle-Gro from $70.00 to $75.00 and gave the stock a “hold” rating in a research note on Friday. Wells Fargo & Company lifted their price target on shares of Scotts Miracle-Gro from $75.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Scotts Miracle-Gro currently has a consensus rating of “Hold” and a consensus price target of $76.00.

Scotts Miracle-Gro Price Performance

Scotts Miracle-Gro stock opened at $71.66 on Friday. Scotts Miracle-Gro has a 12-month low of $43.67 and a 12-month high of $82.11. The stock has a market capitalization of $4.07 billion, a PE ratio of -11.48 and a beta of 1.76. The firm has a 50 day simple moving average of $66.49 and a 200-day simple moving average of $65.84.

Scotts Miracle-Gro Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Friday, August 23rd will be issued a dividend of $0.66 per share. The ex-dividend date is Friday, August 23rd. This represents a $2.64 annualized dividend and a yield of 3.68%. Scotts Miracle-Gro’s dividend payout ratio (DPR) is presently -42.31%.

Insider Activity

In other Scotts Miracle-Gro news, Director Stephen L. Johnson sold 960 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $77.95, for a total transaction of $74,832.00. Following the completion of the transaction, the director now owns 22,940 shares of the company’s stock, valued at approximately $1,788,173. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Scotts Miracle-Gro news, Director Hagedorn Partnership, L.P. sold 31,000 shares of the firm’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $69.67, for a total value of $2,159,770.00. Following the sale, the director now directly owns 13,746,012 shares in the company, valued at approximately $957,684,656.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stephen L. Johnson sold 960 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $77.95, for a total transaction of $74,832.00. Following the transaction, the director now directly owns 22,940 shares of the company’s stock, valued at approximately $1,788,173. The disclosure for this sale can be found here. Insiders own 26.46% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Rise Advisors LLC raised its holdings in shares of Scotts Miracle-Gro by 135.2% in the 1st quarter. Rise Advisors LLC now owns 334 shares of the basic materials company’s stock worth $25,000 after buying an additional 192 shares in the last quarter. Versant Capital Management Inc increased its position in shares of Scotts Miracle-Gro by 80.1% during the 2nd quarter. Versant Capital Management Inc now owns 389 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 173 shares in the last quarter. Whittier Trust Co. of Nevada Inc. bought a new position in Scotts Miracle-Gro during the 2nd quarter valued at about $25,000. GAMMA Investing LLC acquired a new position in Scotts Miracle-Gro in the fourth quarter valued at about $29,000. Finally, Frazier Financial Advisors LLC bought a new stake in Scotts Miracle-Gro during the fourth quarter worth about $36,000. 74.07% of the stock is owned by institutional investors.

Scotts Miracle-Gro Company Profile

The Scotts Miracle-Gro Company, together with its subsidiaries, manufactures, markets, and sells products for lawn, garden care, and indoor and hydroponic gardening in the United States and internationally. It operates through three segments: U.S. Consumer, Hawthorne, and Other. The company provides lawn care products, comprising lawn fertilizers, grass seed products, spreaders, and other durable products, as well as lawn-related weed, pest, and disease control products; and gardening and landscape products, which include water-soluble and continuous-release plant foods, potting mixes, garden soils, mulches and ground cover products, plant-related pest and disease control products, organic garden products, and live goods and seeding solutions.