Scotts Miracle-Gro Co (NYSE:SMG) Expected to Post Quarterly Sales of $317.25 Million
Equities research analysts expect Scotts Miracle-Gro Co (NYSE:SMG) to post $317.25 million in sales for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Scotts Miracle-Gro’s earnings, with estimates ranging from $307.30 million to $327.20 million. Scotts Miracle-Gro posted sales of $298.10 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 6.4%. The firm is expected to announce its next quarterly earnings report on Wednesday, January 29th.
According to Zacks, analysts expect that Scotts Miracle-Gro will report full-year sales of $0.00 for the current financial year. For the next financial year, analysts forecast that the firm will post sales of $3.29 billion, with estimates ranging from $3.24 billion to $3.33 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Scotts Miracle-Gro.
Scotts Miracle-Gro (NYSE:SMG) last posted its quarterly earnings data on Wednesday, November 6th. The basic materials company reported ($0.91) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.87) by ($0.04). Scotts Miracle-Gro had a net margin of 12.02% and a return on equity of 51.15%. The company had revenue of $497.70 million for the quarter, compared to analysts’ expectations of $451.49 million. During the same period in the previous year, the firm earned ($0.75) earnings per share. The firm’s quarterly revenue was up 14.7% on a year-over-year basis.
In other Scotts Miracle-Gro news, Director Nancy G. Mistretta sold 2,500 shares of Scotts Miracle-Gro stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $107.98, for a total value of $269,950.00. Following the sale, the director now owns 18,454 shares of the company’s stock, valued at approximately $1,992,662.92. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Thomas N. Kelly, Jr. sold 6,167 shares of Scotts Miracle-Gro stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $111.91, for a total value of $690,148.97. Following the completion of the sale, the director now directly owns 18,811 shares in the company, valued at approximately $2,105,139.01. The disclosure for this sale can be found here. 30.37% of the stock is currently owned by insiders.
Large investors have recently added to or reduced their stakes in the business. Arizona State Retirement System increased its stake in Scotts Miracle-Gro by 1.3% in the 2nd quarter. Arizona State Retirement System now owns 28,584 shares of the basic materials company’s stock worth $2,816,000 after acquiring an additional 365 shares during the last quarter. Capital Management Associates NY bought a new stake in Scotts Miracle-Gro in the 2nd quarter worth approximately $394,000. Balyasny Asset Management LLC increased its stake in Scotts Miracle-Gro by 187.1% in the 2nd quarter. Balyasny Asset Management LLC now owns 11,882 shares of the basic materials company’s stock worth $1,170,000 after acquiring an additional 7,744 shares during the last quarter. Capital Investment Advisory Services LLC increased its stake in Scotts Miracle-Gro by 112.3% in the 2nd quarter. Capital Investment Advisory Services LLC now owns 467 shares of the basic materials company’s stock worth $48,000 after acquiring an additional 247 shares during the last quarter. Finally, Baxter Bros Inc. bought a new stake in Scotts Miracle-Gro in the 2nd quarter worth approximately $218,000. 66.52% of the stock is currently owned by institutional investors and hedge funds.
NYSE SMG traded up $2.68 during trading hours on Friday, reaching $104.64. The company’s stock had a trading volume of 337,038 shares, compared to its average volume of 482,188. The firm’s 50-day moving average price is $100.98 and its 200-day moving average price is $99.25. The company has a quick ratio of 0.90, a current ratio of 1.45 and a debt-to-equity ratio of 1.94. Scotts Miracle-Gro has a 1 year low of $57.96 and a 1 year high of $114.63. The company has a market capitalization of $5.40 billion, a price-to-earnings ratio of 23.41, a PEG ratio of 1.70 and a beta of 0.79.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 26th will be issued a $0.58 dividend. The ex-dividend date is Monday, November 25th. This represents a $2.32 dividend on an annualized basis and a yield of 2.22%. Scotts Miracle-Gro’s dividend payout ratio is presently 51.90%.
About Scotts Miracle-Gro
The Scotts Miracle-Gro Company manufactures, markets, and sells consumer lawn and garden products in the United States and internationally. The company operates through three segments: U.S. Consumer, Hawthorne, and Other. It offers lawn care products, such as 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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