The Scotts Miracle-Gro Company (NYSE:SMG) Receives Average Rating of "Moderate Buy" from Analysts

The Scotts Miracle-Gro Company (NYSE:SMG - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the six brokerages that are presently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $67.67.

Several research firms have weighed in on SMG. Wells Fargo & Company raised their price target on Scotts Miracle-Gro from $67.00 to $72.00 and gave the company an "overweight" rating in a report on Friday, June 6th. UBS Group decreased their price target on Scotts Miracle-Gro from $55.00 to $54.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. JPMorgan Chase & Co. cut their price objective on Scotts Miracle-Gro from $80.00 to $65.00 and set an "overweight" rating on the stock in a research report on Thursday, May 1st. 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 research note on Monday, April 7th. Finally, Truist Financial lifted their price target on Scotts Miracle-Gro from $70.00 to $75.00 and gave the company a "buy" rating in a research report on Friday, June 6th.

Scotts Miracle-Gro Trading Down 4.1%

Shares of SMG stock traded down $2.61 on Thursday, hitting $61.13. 773,388 shares of the stock were exchanged, compared to its average volume of 978,576. The firm has a market capitalization of $3.53 billion, a PE ratio of -127.35 and a beta of 1.99. Scotts Miracle-Gro has a one year low of $45.61 and a one year high of $93.90. The firm's 50 day moving average is $56.91 and its two-hundred day moving average is $62.71.

Scotts Miracle-Gro (NYSE:SMG - Get Free Report) last issued its earnings results on Wednesday, April 30th. The basic materials company reported $3.98 EPS for the quarter, topping the consensus estimate of $3.95 by $0.03. Scotts Miracle-Gro had a negative return on equity of 51.48% and a negative net margin of 0.67%. The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter last year, the company earned $3.69 EPS. The firm's revenue was down 6.8% compared to the same quarter last year. On average, sell-side analysts expect that Scotts Miracle-Gro will post 3.42 earnings per share for the current year.

Scotts Miracle-Gro Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 23rd were issued a $0.66 dividend. The ex-dividend date was Friday, May 23rd. This represents a $2.64 annualized dividend and a dividend yield of 4.32%. Scotts Miracle-Gro's payout ratio is 528.00%.

Institutional Trading of Scotts Miracle-Gro

Several hedge funds and other institutional investors have recently bought and sold shares of SMG. Millennium Management LLC boosted its position in shares of Scotts Miracle-Gro by 288.8% in the 1st quarter. Millennium Management LLC now owns 1,421,220 shares of the basic materials company's stock worth $78,011,000 after purchasing an additional 1,055,672 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Scotts Miracle-Gro in the 4th quarter worth $53,453,000. Raymond James Financial Inc. acquired a new stake in shares of Scotts Miracle-Gro in the 4th quarter worth $39,986,000. Alyeska Investment Group L.P. acquired a new stake in shares of Scotts Miracle-Gro in the 4th quarter worth $39,434,000. Finally, Cubist Systematic Strategies LLC boosted its position in shares of Scotts Miracle-Gro by 770.3% in the 1st quarter. Cubist Systematic Strategies LLC now owns 334,934 shares of the basic materials company's stock worth $18,385,000 after purchasing an additional 296,448 shares in the last quarter. Institutional investors own 74.07% of the company's stock.

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.