Scotts Miracle-Gro Co (SMG) to Post FY2018 Earnings of $5.04 Per Share, SunTrust Banks Forecasts

Scotts Miracle-Gro Co (NYSE:SMG) – Equities research analysts at SunTrust Banks upped their FY2018 earnings estimates for Scotts Miracle-Gro in a report issued on Monday. SunTrust Banks analyst W. Chappell now expects that the basic materials company will post earnings per share of $5.04 for the year, up from their previous estimate of $4.21. SunTrust Banks currently has a “Hold” rating and a $95.00 target price on the stock.

Other analysts have also issued research reports about the company. Zacks Investment Research upgraded Scotts Miracle-Gro from a “sell” rating to a “hold” rating and set a $121.00 price target on the stock in a report on Wednesday. JPMorgan Chase & Co. lowered Scotts Miracle-Gro from an “overweight” rating to a “neutral” rating and set a $99.00 price target on the stock. in a report on Wednesday, November 8th. KeyCorp restated a “hold” rating on shares of Scotts Miracle-Gro in a report on Monday, October 16th. Finally, Bank of America increased their price target on Scotts Miracle-Gro from $107.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, November 8th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Scotts Miracle-Gro has an average rating of “Hold” and an average price target of $106.25.

Scotts Miracle-Gro (NYSE SMG) traded up $1.11 during midday trading on Wednesday, hitting $109.47. The stock had a trading volume of 317,100 shares, compared to its average volume of 609,600. The company has a quick ratio of 0.87, a current ratio of 1.62 and a debt-to-equity ratio of 1.90. The company has a market cap of $6,220.00, a P/E ratio of 33.68, a P/E/G ratio of 2.55 and a beta of 0.36. Scotts Miracle-Gro has a 52-week low of $81.48 and a 52-week high of $109.77.

Scotts Miracle-Gro (NYSE:SMG) last posted its quarterly earnings results on Tuesday, November 7th. The basic materials company reported ($0.26) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.30) by $0.04. Scotts Miracle-Gro had a return on equity of 37.81% and a net margin of 7.51%. The business had revenue of $376.70 million during the quarter, compared to the consensus estimate of $368.50 million. During the same period in the prior year, the company posted ($0.30) EPS. The firm’s revenue for the quarter was up 8.0% compared to the same quarter last year.

Hedge funds have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Scotts Miracle-Gro by 7.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,664 shares of the basic materials company’s stock worth $149,000 after purchasing an additional 116 shares during the period. First Allied Advisory Services Inc. purchased a new stake in Scotts Miracle-Gro in the third quarter worth $226,000. Private Advisor Group LLC increased its stake in Scotts Miracle-Gro by 9.0% in the second quarter. Private Advisor Group LLC now owns 2,620 shares of the basic materials company’s stock worth $239,000 after purchasing an additional 216 shares during the period. Cetera Investment Advisers purchased a new stake in Scotts Miracle-Gro in the second quarter worth $247,000. Finally, Jensen Investment Management Inc. purchased a new stake in Scotts Miracle-Gro in the third quarter worth $258,000. Institutional investors and hedge funds own 69.18% of the company’s stock.

In other Scotts Miracle-Gro news, EVP Ivan C. Smith sold 6,587 shares of the stock in a transaction on Friday, November 17th. The stock was sold at an average price of $97.74, for a total value of $643,813.38. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 29.14% of the company’s stock.

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Scotts Miracle-Gro 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 (NYSE:SMG)

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