Zacks Investment Research upgraded shares of Scotts Miracle-Gro Co (NYSE:SMG) from a hold rating to a buy rating in a report published on Wednesday. Zacks Investment Research currently has $103.00 price target on the stock.
According to Zacks, “The Scotts Miracle-Gro Company, through its wholly-owned subsidiary, The Scotts Company LLC, is the world’s largest marketer of branded consumer products for lawn and garden care, with products for professional horticulture as well. The Company’s brands are the most recognized in the industry. In the U.S., the Company’s Scotts, Miracle-Gro, Ortho and Smith & Hawken brands are market-leading in their categories, as is the consumer Roundup brand, which is marketed in North America and most of Europe exclusively by Scotts and owned by Monsanto. In the U.S. the Company operates Scotts LawnService0, the second largest residential lawn care service business. In Europe, the Company’s brands include Weedol, Pathclear, Evergreen, Levington, Miracle-Gro, KB, Fertiligene and Substral. Its customers include home improvement centers, mass merchandisers, warehouse clubs, hardware chains, independent hardware stores, nurseries, food and drug stores, commercial nurseries and greenhouses, and specialty crop growers. “
SMG has been the topic of a number of other research reports. Bank of America Corp upgraded Scotts Miracle-Gro from an underperform rating to a buy rating and set a $105.00 target price on the stock in a report on Thursday, December 8th. SunTrust Banks, Inc. cut Scotts Miracle-Gro from a buy rating to a hold rating and set a $95.00 target price on the stock. in a report on Wednesday, January 11th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Scotts Miracle-Gro currently has an average rating of Buy and an average target price of $97.00.
Shares of Scotts Miracle-Gro (NYSE:SMG) opened at 92.14 on Wednesday. The company has a 50-day moving average price of $91.92 and a 200-day moving average price of $89.50. The company has a market capitalization of $5.51 billion, a P/E ratio of 17.16 and a beta of 0.64. Scotts Miracle-Gro has a 12 month low of $65.80 and a 12 month high of $98.82.
Scotts Miracle-Gro (NYSE:SMG) last issued its earnings results on Tuesday, January 31st. The company reported ($0.96) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($1.25) by $0.29. Scotts Miracle-Gro had a return on equity of 34.31% and a net margin of 11.64%. The firm had revenue of $246.80 million for the quarter, compared to analysts’ expectations of $232.93 million. During the same quarter last year, the firm earned ($1.14) earnings per share. The firm’s revenue for the quarter was up 26.9% compared to the same quarter last year. On average, analysts forecast that Scotts Miracle-Gro will post $4.30 EPS for the current fiscal year.
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The company also recently announced a quarterly dividend, which was paid on Friday, March 10th. Investors of record on Friday, February 24th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend was Wednesday, February 22nd. Scotts Miracle-Gro’s payout ratio is currently 37.24%.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Creative Planning boosted its position in shares of Scotts Miracle-Gro by 41.6% in the third quarter. Creative Planning now owns 1,223 shares of the company’s stock worth $102,000 after buying an additional 359 shares during the last quarter. Tyers Asset Management LLC purchased a new position in shares of Scotts Miracle-Gro during the fourth quarter worth $179,000. Independent Advisor Alliance purchased a new position in shares of Scotts Miracle-Gro during the fourth quarter worth $195,000. Yorktown Management & Research Co Inc purchased a new position in shares of Scotts Miracle-Gro during the third quarter worth $208,000. Finally, Greenwood Capital Associates LLC purchased a new position in shares of Scotts Miracle-Gro during the fourth quarter worth $211,000. Hedge funds and other institutional investors own 66.15% of the company’s stock.
Scotts Miracle-Gro Company Profile
The Scotts Miracle-Gro Company (Scotts Miracle-Gro) is a manufacturer and marketer of branded consumer lawn and garden products. The Company’s segments include Global Consumer. In North America, its brands include Scotts and Turf Builder lawn and grass seed products; Miracle-Gro, Nature’s Care, Scotts, LiquaFeed and Osmocote gardening and landscape products; and Ortho, Roundup, Home Defense and Tomcat branded insect control, weed control and rodent control products.
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