Scotts Miracle-Gro Co (SMG) Receives Average Rating of “Hold” from Brokerages

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Shares of Scotts Miracle-Gro Co (NYSE:SMG) have received a consensus recommendation of “Hold” from the six analysts that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $76.03.

SMG has been the subject of several recent research reports. TheStreet upgraded shares of Scotts Miracle-Gro from a “c” rating to a “b” rating in a research report on Wednesday, May 1st. ValuEngine upgraded shares of Scotts Miracle-Gro from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. Raymond James lowered shares of Scotts Miracle-Gro from an “outperform” rating to a “market perform” rating and set a $77.10 target price for the company. in a research report on Wednesday, March 27th. They noted that the move was a valuation call. JPMorgan Chase & Co. upgraded shares of Scotts Miracle-Gro from an “underweight” rating to a “neutral” rating and set a $70.00 target price for the company in a research report on Thursday, January 31st. Finally, Bank of America lowered shares of Scotts Miracle-Gro from a “neutral” rating to an “underperform” rating and boosted their target price for the company from $81.00 to $83.00 in a research report on Thursday, May 2nd.

Shares of SMG stock traded up $0.40 during trading hours on Friday, reaching $87.80. The company had a trading volume of 15,249 shares, compared to its average volume of 496,652. Scotts Miracle-Gro has a one year low of $57.96 and a one year high of $94.49. The firm has a market capitalization of $4.83 billion, a PE ratio of 23.68, a P/E/G ratio of 1.89 and a beta of 0.94. The company has a quick ratio of 1.00, a current ratio of 1.59 and a debt-to-equity ratio of 3.28.

Scotts Miracle-Gro (NYSE:SMG) last announced its quarterly earnings results on Wednesday, May 1st. The basic materials company reported $3.64 EPS for the quarter, topping analysts’ consensus estimates of $3.42 by $0.22. The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.16 billion. Scotts Miracle-Gro had a net margin of 8.67% and a return on equity of 53.15%. The business’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same period in the previous year, the business posted $2.88 earnings per share. Analysts anticipate that Scotts Miracle-Gro will post 4.25 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Tuesday, May 28th will be given a dividend of $0.55 per share. The ex-dividend date is Friday, May 24th. This represents a $2.20 annualized dividend and a yield of 2.51%. Scotts Miracle-Gro’s dividend payout ratio (DPR) is 59.30%.

A number of hedge funds and other institutional investors have recently made changes to their positions in SMG. Utah Retirement Systems lifted its stake in Scotts Miracle-Gro by 1.5% in the first quarter. Utah Retirement Systems now owns 7,575 shares of the basic materials company’s stock valued at $596,000 after buying an additional 115 shares during the last quarter. Commonwealth Equity Services LLC raised its holdings in shares of Scotts Miracle-Gro by 1.1% in the 1st quarter. Commonwealth Equity Services LLC now owns 11,385 shares of the basic materials company’s stock worth $894,000 after purchasing an additional 120 shares during the period. Huntington National Bank raised its holdings in shares of Scotts Miracle-Gro by 4.6% in the 1st quarter. Huntington National Bank now owns 2,838 shares of the basic materials company’s stock worth $223,000 after purchasing an additional 125 shares during the period. Eukles Asset Management raised its holdings in shares of Scotts Miracle-Gro by 3.9% in the 1st quarter. Eukles Asset Management now owns 3,345 shares of the basic materials company’s stock worth $263,000 after purchasing an additional 125 shares during the period. Finally, OppenheimerFunds Inc. raised its holdings in shares of Scotts Miracle-Gro by 1.3% in the 1st quarter. OppenheimerFunds Inc. now owns 10,056 shares of the basic materials company’s stock worth $790,000 after purchasing an additional 129 shares during the period. Institutional investors own 65.12% of the company’s stock.

Scotts Miracle-Gro Company Profile

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