Scotts Miracle-Gro Co (SMG) Receives Consensus Recommendation of “Buy” from Analysts

Scotts Miracle-Gro Co (NYSE:SMG) has received an average recommendation of “Buy” from the six ratings firms that are covering the company, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $76.40.

A number of equities research analysts recently commented on the stock. ValuEngine upgraded shares of Scotts Miracle-Gro from a “sell” rating to a “hold” rating in a report on Wednesday, November 7th. JPMorgan Chase & Co. upgraded shares of Scotts Miracle-Gro from an “underweight” rating to a “neutral” rating and set a $70.00 price objective on the stock in a report on Thursday, January 31st. Zacks Investment Research upgraded shares of Scotts Miracle-Gro from a “sell” rating to a “hold” rating in a report on Wednesday, October 24th. Bank of America upgraded shares of Scotts Miracle-Gro from an “underperform” rating to a “neutral” rating and set a $72.00 price objective on the stock in a report on Wednesday, October 24th. They noted that the move was a valuation call. Finally, Raymond James upgraded shares of Scotts Miracle-Gro from a “market perform” rating to an “outperform” rating and set a $71.00 price objective on the stock in a report on Monday, December 17th.

Shares of SMG traded up $0.94 during trading hours on Wednesday, hitting $77.63. 497,039 shares of the stock were exchanged, compared to its average volume of 609,238. The company has a debt-to-equity ratio of 8.63, a quick ratio of 0.56 and a current ratio of 1.81. Scotts Miracle-Gro has a 12-month low of $57.96 and a 12-month high of $93.00. The stock has a market capitalization of $4.24 billion, a price-to-earnings ratio of 20.92, a PEG ratio of 1.86 and a beta of 0.86.

Scotts Miracle-Gro (NYSE:SMG) last issued its quarterly earnings results on Wednesday, January 30th. The basic materials company reported ($1.39) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.24) by ($0.15). Scotts Miracle-Gro had a return on equity of 47.98% and a net margin of 0.19%. The firm had revenue of $298.10 million for the quarter, compared to analysts’ expectations of $287.24 million. During the same quarter in the previous year, the firm posted ($1.08) earnings per share. The firm’s revenue for the quarter was up 34.6% compared to the same quarter last year. On average, analysts predict that Scotts Miracle-Gro will post 4.19 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 8th. Shareholders of record on Friday, February 22nd will be paid a $0.55 dividend. The ex-dividend date of this dividend is Thursday, February 21st. This represents a $2.20 annualized dividend and a yield of 2.83%. Scotts Miracle-Gro’s payout ratio is currently 59.30%.

In other Scotts Miracle-Gro news, insider Michael C. Lukemire sold 10,156 shares of Scotts Miracle-Gro stock in a transaction on Friday, December 7th. The shares were sold at an average price of $69.82, for a total value of $709,091.92. Following the sale, the insider now directly owns 49,001 shares in the company, valued at approximately $3,421,249.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Hagedorn Partnership, L.P. sold 50,000 shares of Scotts Miracle-Gro stock in a transaction on Monday, January 14th. The shares were sold at an average price of $68.27, for a total transaction of $3,413,500.00. Following the completion of the sale, the insider now owns 15,602,150 shares in the company, valued at $1,065,158,780.50. The disclosure for this sale can be found here. Insiders sold a total of 62,821 shares of company stock worth $4,319,988 over the last quarter. Company insiders own 30.37% of the company’s stock.

A number of hedge funds have recently modified their holdings of SMG. Vanguard Group Inc. increased its stake in shares of Scotts Miracle-Gro by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 3,701,992 shares of the basic materials company’s stock worth $291,458,000 after purchasing an additional 52,278 shares during the last quarter. Vanguard Group Inc increased its stake in shares of Scotts Miracle-Gro by 1.4% during the 3rd quarter. Vanguard Group Inc now owns 3,701,992 shares of the basic materials company’s stock worth $291,458,000 after purchasing an additional 52,278 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Scotts Miracle-Gro by 1.9% during the 4th quarter. BlackRock Inc. now owns 3,632,451 shares of the basic materials company’s stock worth $223,249,000 after buying an additional 66,029 shares during the period. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of Scotts Miracle-Gro by 1.7% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,153,990 shares of the basic materials company’s stock worth $132,385,000 after buying an additional 36,253 shares during the period. Finally, Fisher Asset Management LLC boosted its holdings in shares of Scotts Miracle-Gro by 3.9% during the 4th quarter. Fisher Asset Management LLC now owns 1,522,881 shares of the basic materials company’s stock worth $93,596,000 after buying an additional 56,467 shares during the period. Hedge funds and other institutional investors own 65.92% of the company’s stock.

About Scotts Miracle-Gro

The Scotts Miracle-Gro Company manufactures, markets, and sells consumer lawn and garden products in the United States and internatonally. 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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