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

Scotts Miracle-Gro (NYSE:SMG) is set to announce its earnings results before the market opens on Wednesday, July 31st. Analysts expect the company to announce earnings of $1.94 per share for the quarter. Investors interested in listening to the company’s conference call can do so using this link.

Scotts Miracle-Gro (NYSE:SMG) last posted its quarterly earnings data on Wednesday, May 1st. The basic materials company reported $3.69 earnings per share for the quarter, topping the consensus estimate of $3.33 by $0.36. Scotts Miracle-Gro had a negative return on equity of 20.97% and a negative net margin of 10.14%. The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same period last year, the company posted $3.78 EPS. The business’s quarterly revenue was down .4% on a year-over-year basis. 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 Price Performance

Shares of Scotts Miracle-Gro stock opened at $70.35 on Tuesday. The stock’s 50-day moving average is $65.87 and its 200 day moving average is $65.47. Scotts Miracle-Gro has a one year low of $43.67 and a one year high of $77.95. The firm has a market cap of $4.00 billion, a price-to-earnings ratio of -11.27 and a beta of 1.76.

Insider Buying and Selling at Scotts Miracle-Gro

In other Scotts Miracle-Gro news, Director Hagedorn Partnership, L.P. sold 31,000 shares of the firm’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $69.67, for a total value of $2,159,770.00. Following the transaction, the director now directly owns 13,746,012 shares of the company’s stock, valued at $957,684,656.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 26.46% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. StockNews.com upgraded Scotts Miracle-Gro from a “sell” rating to a “hold” rating in a report on Thursday, April 4th. Truist Financial lowered shares of Scotts Miracle-Gro from a “buy” rating to a “hold” rating and increased their target price for the stock from $65.00 to $75.00 in a research note on Friday, April 5th. Wells Fargo & Company decreased their price target on shares of Scotts Miracle-Gro from $83.00 to $75.00 and set an “overweight” rating for the company in a research note on Wednesday, July 10th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Scotts Miracle-Gro from $70.00 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, April 5th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, Scotts Miracle-Gro presently has an average rating of “Hold” and a consensus target price of $71.67.

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.