Scotts Miracle-Gro Co (NYSE:SMG) announced a quarterly dividend on Monday, April 29th, RTT News reports. Stockholders of record on Tuesday, May 28th will be given a dividend of 0.55 per share by the basic materials company on Monday, June 10th. This represents a $2.20 annualized dividend and a dividend yield of 2.50%. The ex-dividend date of this dividend is Friday, May 24th.
Scotts Miracle-Gro has raised its dividend payment by an average of 5.5% per year over the last three years and has increased its dividend every year for the last 9 years. Scotts Miracle-Gro has a payout ratio of 58.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Scotts Miracle-Gro to earn $4.66 per share next year, which means the company should continue to be able to cover its $2.20 annual dividend with an expected future payout ratio of 47.2%.
Scotts Miracle-Gro stock opened at $87.84 on Friday. The company has a debt-to-equity ratio of 3.28, a quick ratio of 1.00 and a current ratio of 1.59. The firm has a market cap of $4.87 billion, a PE ratio of 21.06, a P/E/G ratio of 1.92 and a beta of 0.94. Scotts Miracle-Gro has a fifty-two week low of $57.96 and a fifty-two week high of $94.49.
Several research firms have recently weighed in on SMG. ValuEngine cut shares of Scotts Miracle-Gro from a “buy” rating to a “hold” rating in a research report on Wednesday. TheStreet upgraded shares of Scotts Miracle-Gro from a “c” rating to a “b” rating in a research report on Wednesday, May 1st. Bank of America cut shares of Scotts Miracle-Gro from a “neutral” rating to an “underperform” rating and lifted their target price for the stock from $81.00 to $83.00 in a research report on Thursday, May 2nd. Raymond James cut shares of Scotts Miracle-Gro from an “outperform” rating to a “market perform” rating and set a $77.10 target price on the stock. in a research report on Wednesday, March 27th. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. upgraded shares of Scotts Miracle-Gro from an “underweight” rating to a “neutral” rating and set a $70.00 target price on the stock in a research report on Thursday, January 31st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $76.03.
About Scotts Miracle-Gro
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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