Scotts Miracle-Gro (NYSE:SMG) Issues Quarterly Earnings Results, Misses Expectations By $0.04 EPS

Scotts Miracle-Gro (NYSE:SMG) posted its earnings results on Wednesday. The basic materials company reported ($0.91) EPS for the quarter, missing the consensus estimate of ($0.87) by ($0.04), Briefing.com reports. The business had revenue of $497.70 million for the quarter, compared to analyst estimates of $451.49 million. Scotts Miracle-Gro had a return on equity of 51.15% and a net margin of 12.02%. The firm’s quarterly revenue was up 14.7% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.75) earnings per share. Scotts Miracle-Gro updated its FY20 guidance to $4.95-$5.15 EPS.

Shares of Scotts Miracle-Gro stock traded up $2.00 on Friday, reaching $103.96. The stock had a trading volume of 123,638 shares, compared to its average volume of 406,630. Scotts Miracle-Gro has a 1 year low of $57.96 and a 1 year high of $114.63. The company has a market cap of $5.40 billion, a P/E ratio of 23.26, a price-to-earnings-growth ratio of 1.70 and a beta of 0.79. The company has a current ratio of 1.45, a quick ratio of 0.90 and a debt-to-equity ratio of 1.94. The business’s 50 day moving average is $100.90 and its two-hundred day moving average is $99.14.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th will be issued a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date of this dividend is Monday, November 25th. Scotts Miracle-Gro’s payout ratio is 51.90%.

Several analysts have recently weighed in on the stock. Bank of America upgraded shares of Scotts Miracle-Gro from a “neutral” rating to a “buy” rating and set a $108.00 price objective for the company in a research note on Friday, October 25th. SunTrust Banks upped their target price on shares of Scotts Miracle-Gro to $120.00 and gave the stock a “positive” rating in a research note on Thursday, August 1st. ValuEngine downgraded shares of Scotts Miracle-Gro from a “hold” rating to a “sell” rating in a report on Friday, October 4th. Finally, Zacks Investment Research downgraded shares of Scotts Miracle-Gro from a “buy” rating to a “hold” rating and set a $117.00 price target on the stock. in a report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $98.42.

In other Scotts Miracle-Gro news, Director Nancy G. Mistretta sold 2,500 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $107.98, for a total transaction of $269,950.00. Following the transaction, the director now directly owns 18,454 shares in the company, valued at $1,992,662.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Thomas N. Kelly, Jr. sold 6,167 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $111.91, for a total transaction of $690,148.97. Following the transaction, the director now owns 18,811 shares in the company, valued at $2,105,139.01. The disclosure for this sale can be found here. Corporate insiders own 30.37% of the company’s stock.

Scotts Miracle-Gro Company Profile

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.

Featured Story: Book Value Per Share – BVPS

Earnings History for Scotts Miracle-Gro (NYSE:SMG)

Receive News & Ratings for Scotts Miracle-Gro Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Scotts Miracle-Gro and related companies with MarketBeat.com's FREE daily email newsletter.