Scotts Miracle-Gro (SMG) to Release Earnings on Wednesday

Scotts Miracle-Gro (NYSE:SMG) is projected to issue its quarterly earnings data before the market opens on Wednesday, January 29th. Analysts expect the company to announce earnings of ($1.23) per share and revenue of $392,620.00 billion for the quarter. Investors interested in participating in the company’s conference call can do so using this link.

Scotts Miracle-Gro Stock Performance

Shares of NYSE SMG opened at $71.11 on Wednesday. The stock has a market cap of $4.09 billion, a price-to-earnings ratio of -103.05 and a beta of 1.73. The business has a 50 day simple moving average of $71.59 and a 200 day simple moving average of $74.24. Scotts Miracle-Gro has a 52 week low of $53.43 and a 52 week high of $93.90.

Scotts Miracle-Gro Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 22nd were given a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 3.71%. The ex-dividend date of this dividend was Friday, November 22nd. Scotts Miracle-Gro’s dividend payout ratio is -382.61%.

Insider Buying and Selling

In other news, CEO James Hagedorn sold 18,368 shares of Scotts Miracle-Gro stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $75.68, for a total transaction of $1,390,090.24. Following the sale, the chief executive officer now owns 87,426 shares of the company’s stock, valued at approximately $6,616,399.68. This trade represents a 17.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Nathan Eric Baxter sold 11,359 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $75.37, for a total value of $856,127.83. Following the completion of the transaction, the chief operating officer now directly owns 51,631 shares of the company’s stock, valued at approximately $3,891,428.47. This trade represents a 18.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 58,227 shares of company stock valued at $4,410,268. 25.37% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

SMG has been the subject of several analyst reports. Stifel Nicolaus lifted their price objective on shares of Scotts Miracle-Gro from $75.00 to $81.00 and gave the company a “hold” rating in a research note on Monday, November 4th. Truist Financial reduced their target price on Scotts Miracle-Gro from $90.00 to $70.00 and set a “hold” rating for the company in a report on Friday, November 8th. Jefferies Financial Group began coverage on Scotts Miracle-Gro in a research report on Monday, December 9th. They set a “hold” rating and a $72.00 target price for the company. Wells Fargo & Company dropped their price target on shares of Scotts Miracle-Gro from $85.00 to $80.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Finally, UBS Group decreased their price objective on shares of Scotts Miracle-Gro from $77.00 to $72.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $75.83.

About Scotts Miracle-Gro

The Scotts Miracle-Gro Company, together with its subsidiaries, manufactures, markets, and sells products for lawn, garden care, and indoor and hydroponic gardening in the United States and internationally. It operates through three segments: U.S. Consumer, Hawthorne, and Other. The company provides lawn care products, comprising lawn fertilizers, grass seed products, spreaders, and other durable products, as well as lawn-related weed, pest, and disease control products; and gardening and landscape products, which include water-soluble and continuous-release plant foods, potting mixes, garden soils, mulches and ground cover products, plant-related pest and disease control products, organic garden products, and live goods and seeding solutions.