The Scotts Miracle-Gro Company (NYSE:SMG) Receives $67.67 Average PT from Brokerages

Shares of The Scotts Miracle-Gro Company (NYSE:SMG - Get Free Report) have earned an average rating of "Moderate Buy" from the six brokerages that are presently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $67.67.

A number of equities analysts have commented on the company. JPMorgan Chase & Co. reduced their target price on Scotts Miracle-Gro from $80.00 to $65.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. UBS Group reduced their target price on Scotts Miracle-Gro from $55.00 to $54.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Wells Fargo & Company increased their target price on Scotts Miracle-Gro from $67.00 to $72.00 and gave the company an "overweight" rating in a report on Friday, June 6th. Jefferies Financial Group raised Scotts Miracle-Gro from a "hold" rating to a "buy" rating and reduced their target price for the company from $72.00 to $69.00 in a report on Monday, April 7th. Finally, Stifel Nicolaus cut Scotts Miracle-Gro from a "buy" rating to a "hold" rating and increased their target price for the company from $70.00 to $71.00 in a report on Monday, June 9th.

Scotts Miracle-Gro Price Performance

NYSE SMG traded down $0.36 during trading hours on Monday, reaching $68.18. The company's stock had a trading volume of 565,966 shares, compared to its average volume of 962,307. The firm has a market capitalization of $3.94 billion, a price-to-earnings ratio of 136.36 and a beta of 2.01. Scotts Miracle-Gro has a 1-year low of $45.61 and a 1-year high of $93.90. The company's 50-day moving average is $61.04 and its two-hundred day moving average is $61.63.

Scotts Miracle-Gro (NYSE:SMG - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The basic materials company reported $3.98 earnings per share for the quarter, topping analysts' consensus estimates of $3.95 by $0.03. Scotts Miracle-Gro had a negative return on equity of 56.15% and a net margin of 1.04%. The company had revenue of $1.42 billion during the quarter, compared to analysts' expectations of $1.50 billion. During the same quarter in the prior year, the firm posted $3.69 EPS. Scotts Miracle-Gro's quarterly revenue was down 6.8% compared to the same quarter last year. Equities analysts forecast that Scotts Miracle-Gro will post 3.42 EPS for the current fiscal year.

Scotts Miracle-Gro Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 23rd were given a $0.66 dividend. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.87%. Scotts Miracle-Gro's dividend payout ratio (DPR) is presently 528.00%.

Institutional Investors Weigh In On Scotts Miracle-Gro

A number of large investors have recently made changes to their positions in SMG. Atala Financial Inc purchased a new position in Scotts Miracle-Gro in the fourth quarter worth approximately $25,000. SBI Securities Co. Ltd. purchased a new position in Scotts Miracle-Gro in the fourth quarter worth approximately $26,000. Tortoise Investment Management LLC grew its position in Scotts Miracle-Gro by 77.3% in the fourth quarter. Tortoise Investment Management LLC now owns 516 shares of the basic materials company's stock worth $34,000 after acquiring an additional 225 shares during the period. Spire Wealth Management grew its position in Scotts Miracle-Gro by 477.9% in the first quarter. Spire Wealth Management now owns 549 shares of the basic materials company's stock worth $30,000 after acquiring an additional 454 shares during the period. Finally, UMB Bank n.a. grew its position in Scotts Miracle-Gro by 479.4% in the first quarter. UMB Bank n.a. now owns 562 shares of the basic materials company's stock worth $31,000 after acquiring an additional 465 shares during the period. 74.07% of the stock is currently owned by hedge funds and other institutional investors.

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.