Scotts Miracle-Gro Company (The) (SMG) Updates FY17 Earnings Guidance

Scotts Miracle-Gro Company (The) (NYSE:SMG) issued an update on its FY17 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $4.00-4.20 for the period, compared to the Thomson Reuters consensus estimate of $4.13. The company issued revenue guidance of +3-4% to $2.92-2.95 billion, compared to the consensus revenue estimate of $2.93 billion.

Shares of Scotts Miracle-Gro Company (SMG) opened at 94.66 on Friday. The stock’s 50 day moving average is $94.15 and its 200-day moving average is $91.72. Scotts Miracle-Gro Company has a 52 week low of $78.73 and a 52 week high of $99.91. The firm has a market cap of $5.53 billion, a PE ratio of 25.54 and a beta of 0.40.

Scotts Miracle-Gro Company (The) (NYSE:SMG) last released its quarterly earnings results on Tuesday, August 1st. The basic materials company reported $2.63 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.51 by $0.12. Scotts Miracle-Gro Company (The) had a return on equity of 36.28% and a net margin of 7.85%. The business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter in the prior year, the business earned $2.16 earnings per share. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. On average, equities analysts predict that Scotts Miracle-Gro Company will post $4.15 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Friday, August 25th will be paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 2.24%. The ex-dividend date is Wednesday, August 23rd. This is a boost from Scotts Miracle-Gro Company (The)’s previous quarterly dividend of $0.50. Scotts Miracle-Gro Company (The)’s dividend payout ratio is 52.49%.

SMG has been the subject of several analyst reports. BidaskClub cut Scotts Miracle-Gro Company (The) from a hold rating to a sell rating in a research note on Tuesday, July 25th. Zacks Investment Research cut Scotts Miracle-Gro Company (The) from a hold rating to a sell rating in a research note on Wednesday, May 3rd. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has an average rating of Buy and an average target price of $101.00.

In other Scotts Miracle-Gro Company (The) news, insider Michael C. Lukemire sold 18,000 shares of the company’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $96.14, for a total value of $1,730,520.00. Following the sale, the insider now owns 23,969 shares of the company’s stock, valued at $2,304,379.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Thomas Randal Coleman sold 13,973 shares of the company’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $96.14, for a total value of $1,343,364.22. Following the completion of the sale, the chief financial officer now directly owns 19,959 shares in the company, valued at approximately $1,918,858.26. The disclosure for this sale can be found here. Insiders have sold 190,859 shares of company stock worth $18,326,133 in the last ninety days. 28.16% of the stock is currently owned by corporate insiders.

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Scotts Miracle-Gro Company (The) Company Profile

The Scotts Miracle-Gro Company (Scotts Miracle-Gro) is a manufacturer and marketer of branded consumer lawn and garden products. The Company’s segments include Global Consumer. In North America, its brands include Scotts and Turf Builder lawn and grass seed products; Miracle-Gro, Nature’s Care, Scotts, LiquaFeed and Osmocote gardening and landscape products; and Ortho, Roundup, Home Defense and Tomcat branded insect control, weed control and rodent control products.

Earnings History and Estimates for Scotts Miracle-Gro Company (The) (NYSE:SMG)

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