Scotts Miracle-Gro (NYSE:SMG) Issues Quarterly Earnings Results

Scotts Miracle-Gro (NYSE:SMG) posted its quarterly earnings data on Wednesday. The basic materials company reported $3.11 earnings per share for the quarter, beating the consensus estimate of $2.74 by $0.37, Briefing.com reports. The firm had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Scotts Miracle-Gro had a net margin of 8.67% and a return on equity of 53.15%. The company’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same quarter last year, the company posted $2.67 EPS. Scotts Miracle-Gro updated its FY 2019 guidance to $4.35-4.50 EPS and its FY19 guidance to $4.35-4.50 EPS.

Scotts Miracle-Gro stock traded up $1.03 during midday trading on Friday, hitting $110.04. 39,473 shares of the stock were exchanged, compared to its average volume of 321,568. The firm has a fifty day moving average price of $100.49. Scotts Miracle-Gro has a 52 week low of $57.96 and a 52 week high of $114.63. The stock has a market capitalization of $5.96 billion, a PE ratio of 29.62, a PEG ratio of 2.26 and a beta of 0.87. The company has a debt-to-equity ratio of 3.28, a current ratio of 1.59 and a quick ratio of 1.00.

SMG has been the subject of several 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. Bank of America set a $96.00 target price on shares of Scotts Miracle-Gro and gave the company a “sell” rating in a research note on Wednesday. ValuEngine raised shares of Scotts Miracle-Gro from a “hold” rating to a “buy” rating in a research note on Thursday, May 30th. Finally, SunTrust Banks raised their target price on shares of Scotts Miracle-Gro to $120.00 and gave the company a “positive” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $87.42.

A number of institutional investors and hedge funds have recently made changes to their positions in SMG. Front Row Advisors LLC acquired a new position in Scotts Miracle-Gro during the first quarter worth $25,000. NEXT Financial Group Inc increased its holdings in Scotts Miracle-Gro by 806.7% during the second quarter. NEXT Financial Group Inc now owns 272 shares of the basic materials company’s stock worth $27,000 after buying an additional 242 shares during the last quarter. Shine Investment Advisory Services Inc. increased its holdings in Scotts Miracle-Gro by 106.5% during the first quarter. Shine Investment Advisory Services Inc. now owns 510 shares of the basic materials company’s stock worth $40,000 after buying an additional 263 shares during the last quarter. Bedel Financial Consulting Inc. increased its holdings in Scotts Miracle-Gro by 58.5% during the first quarter. Bedel Financial Consulting Inc. now owns 515 shares of the basic materials company’s stock worth $40,000 after buying an additional 190 shares during the last quarter. Finally, Zions Bancorporation N.A. acquired a new position in Scotts Miracle-Gro during the first quarter worth $49,000. 66.12% of the stock is currently owned by hedge funds and other institutional investors.

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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Earnings History for Scotts Miracle-Gro (NYSE:SMG)

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