Q3 2024 EPS Estimates for The Scotts Miracle-Gro Company (NYSE:SMG) Cut by Zacks Research

The Scotts Miracle-Gro Company (NYSE:SMG) – Equities research analysts at Zacks Research lowered their Q3 2024 earnings per share (EPS) estimates for Scotts Miracle-Gro in a report released on Wednesday, May 22nd. Zacks Research analyst S. Rathi now expects that the basic materials company will post earnings per share of $1.82 for the quarter, down from their previous forecast of $2.08. The consensus estimate for Scotts Miracle-Gro’s current full-year earnings is $2.66 per share. Zacks Research also issued estimates for Scotts Miracle-Gro’s Q3 2025 earnings at $3.26 EPS.

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

Several other equities analysts have also recently weighed in on SMG. Raymond James reiterated a “market perform” rating on shares of Scotts Miracle-Gro in a report on Monday, March 25th. Truist Financial downgraded shares of Scotts Miracle-Gro from a “buy” rating to a “hold” rating and increased their price objective for the stock from $65.00 to $75.00 in a research report on Friday, April 5th. Wells Fargo & Company cut their price objective on shares of Scotts Miracle-Gro from $85.00 to $83.00 and set an “overweight” rating on the stock in a research report on Thursday, May 2nd. JPMorgan Chase & Co. upped their target price on shares of Scotts Miracle-Gro from $70.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, April 5th. Finally, Stifel Nicolaus lifted their price target on Scotts Miracle-Gro from $55.00 to $65.00 and gave the company a “hold” rating in a research note on Monday, March 4th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $73.00.

Scotts Miracle-Gro Trading Up 0.9 %

SMG stock opened at $65.51 on Thursday. Scotts Miracle-Gro has a 1-year low of $43.67 and a 1-year high of $77.95. The business’s 50-day moving average price is $70.01 and its two-hundred day moving average price is $63.23. The firm has a market cap of $3.72 billion, a PE ratio of -10.50 and a beta of 1.70.

Scotts Miracle-Gro Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 24th will be given a dividend of $0.66 per share. The ex-dividend date is Thursday, May 23rd. This represents a $2.64 annualized dividend and a yield of 4.03%. Scotts Miracle-Gro’s dividend payout ratio (DPR) is presently -42.31%.

Insider Transactions at Scotts Miracle-Gro

In related news, Director Hagedorn Partnership, L.P. sold 31,000 shares of Scotts Miracle-Gro stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $69.67, for a total value of $2,159,770.00. Following the sale, the director now owns 13,746,012 shares of the company’s stock, valued at $957,684,656.04. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 26.46% of the company’s stock.

Hedge Funds Weigh In On Scotts Miracle-Gro

A number of institutional investors have recently added to or reduced their stakes in SMG. Rise Advisors LLC grew its position in shares of Scotts Miracle-Gro by 135.2% in the 1st quarter. Rise Advisors LLC now owns 334 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 192 shares during the period. GAMMA Investing LLC bought a new position in Scotts Miracle-Gro during the fourth quarter worth about $29,000. Frazier Financial Advisors LLC acquired a new position in Scotts Miracle-Gro during the fourth quarter worth approximately $36,000. Bruce G. Allen Investments LLC acquired a new stake in shares of Scotts Miracle-Gro in the fourth quarter valued at approximately $47,000. Finally, Headlands Technologies LLC acquired a new stake in shares of Scotts Miracle-Gro in the third quarter valued at approximately $52,000. 74.07% of the stock is currently owned by institutional investors and hedge funds.

About Scotts Miracle-Gro

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.