Scotts Miracle-Gro (SMG) Set to Announce Earnings on Wednesday

Scotts Miracle-Gro (NYSE:SMG) will post its quarterly earnings results before the market opens on Wednesday, November 6th. Analysts expect Scotts Miracle-Gro to post earnings of ($1.94) per share for the quarter. Persons interested in participating in the company’s earnings conference call can do so using this link.

Scotts Miracle-Gro (NYSE:SMG) last issued its earnings results on Wednesday, July 31st. The basic materials company reported $2.31 EPS for the quarter, beating the consensus estimate of $1.89 by $0.42. Scotts Miracle-Gro had a negative return on equity of 41.19% and a negative net margin of 7.38%. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same period last year, the business posted $1.17 EPS. The firm’s revenue for the quarter was up 7.5% compared to the same quarter last year. On average, analysts expect Scotts Miracle-Gro to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Scotts Miracle-Gro Stock Performance

SMG stock opened at $87.93 on Wednesday. Scotts Miracle-Gro has a fifty-two week low of $43.98 and a fifty-two week high of $91.09. The stock’s 50 day simple moving average is $78.85 and its 200 day simple moving average is $71.60. The company has a market cap of $5.00 billion, a P/E ratio of -18.59 and a beta of 1.76.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on SMG shares. Wells Fargo & Company lifted their price target on Scotts Miracle-Gro from $75.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Truist Financial upped their price target on Scotts Miracle-Gro from $65.00 to $90.00 and gave the stock a “hold” rating in a report on Wednesday, October 16th. Finally, Stifel Nicolaus increased their price target on Scotts Miracle-Gro from $70.00 to $75.00 and gave the company a “hold” rating in a research report on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $83.75.

Insiders Place Their Bets

In related news, major shareholder Hagedorn Partnership, L.P. sold 85,130 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $70.93, for a total value of $6,038,270.90. Following the sale, the insider now directly owns 13,608,238 shares in the company, valued at approximately $965,232,321.34. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, COO Nathan Eric Baxter sold 2,988 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $70.93, for a total value of $211,938.84. Following the completion of the transaction, the chief operating officer now directly owns 37,920 shares of the company’s stock, valued at $2,689,665.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Hagedorn Partnership, L.P. sold 85,130 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $70.93, for a total value of $6,038,270.90. Following the sale, the insider now owns 13,608,238 shares in the company, valued at approximately $965,232,321.34. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 89,078 shares of company stock valued at $6,325,042 over the last ninety days. 26.46% of the stock is currently owned by insiders.

Scotts Miracle-Gro Company Profile

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.