Scotts Miracle-Gro (NYSE:SMG) Price Target Raised to $120.00

Scotts Miracle-Gro (NYSE:SMG) had its target price boosted by SunTrust Banks to $120.00 in a research note issued to investors on Thursday morning, The Fly reports. SunTrust Banks currently has a positive rating on the basic materials company’s stock.

Several other equities research analysts have also recently weighed in on SMG. ValuEngine raised Scotts Miracle-Gro from a hold rating to a buy rating in a research note on Thursday, May 30th. Bank of America reissued an underperform rating and issued a $91.00 price target (up previously from $83.00) on shares of Scotts Miracle-Gro in a research note on Tuesday, July 30th. Finally, TheStreet raised Scotts Miracle-Gro from a c rating to a b rating in a research note on Wednesday, May 1st. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $87.42.

Shares of SMG stock traded down $0.79 on Thursday, hitting $109.23. The company had a trading volume of 173,086 shares, compared to its average volume of 470,678. The stock has a market cap of $6.10 billion, a price-to-earnings ratio of 29.44, a P/E/G ratio of 2.32 and a beta of 0.85. The company’s 50-day moving average price is $100.80. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.00 and a current ratio of 1.45. Scotts Miracle-Gro has a twelve month low of $57.96 and a twelve month high of $114.63.

Scotts Miracle-Gro (NYSE:SMG) last issued its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $3.11 earnings per share for the quarter, beating the consensus estimate of $2.74 by $0.37. The company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Scotts Miracle-Gro had a return on equity of 51.15% and a net margin of 12.02%. The business’s quarterly revenue was up 17.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.67 earnings per share. As a group, analysts expect that Scotts Miracle-Gro will post 4.5 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th will be paid a dividend of $0.58 per share. The ex-dividend date of this dividend is Monday, August 26th. This represents a $2.32 annualized dividend and a yield of 2.12%. This is a boost from Scotts Miracle-Gro’s previous quarterly dividend of $0.55. Scotts Miracle-Gro’s dividend payout ratio (DPR) is currently 59.30%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Municipal Employees Retirement System of Michigan grew its stake in Scotts Miracle-Gro by 1.5% during the second quarter. Municipal Employees Retirement System of Michigan now owns 7,270 shares of the basic materials company’s stock worth $716,000 after purchasing an additional 110 shares during the period. Charter Trust Co. grew its stake in Scotts Miracle-Gro by 4.0% during the second quarter. Charter Trust Co. now owns 2,989 shares of the basic materials company’s stock worth $294,000 after purchasing an additional 115 shares during the period. Huntington National Bank grew its stake in Scotts Miracle-Gro by 4.6% during the first 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 grew its stake in Scotts Miracle-Gro by 3.9% during the first 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, Curbstone Financial Management Corp grew its stake in Scotts Miracle-Gro by 1.7% during the second quarter. Curbstone Financial Management Corp now owns 7,630 shares of the basic materials company’s stock worth $752,000 after purchasing an additional 130 shares during the period. 66.06% of the stock is owned by institutional investors and hedge funds.

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.

See Also: What is Depreciation?

The Fly

Receive News & Ratings for Scotts Miracle-Gro Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Scotts Miracle-Gro and related companies with MarketBeat.com's FREE daily email newsletter.