The Scotts Miracle-Gro Company (NYSE:SMG) Receives $71.17 Average Price Target from Analysts

Key Points

• The Scotts Miracle-Gro Company has received a consensus rating of "Moderate Buy" from analysts, with an average 1-year target price of $71.17.
• Scotts Miracle-Gro reported earnings of $2.59 per share for the last quarter, outperforming estimates, but its revenue showed a year-over-year decline of 1.2%.
• The company has declared a quarterly dividend of $0.66 per share, reflecting an annualized yield of 4.3% despite a high dividend payout ratio of 347.37%.

Shares of The Scotts Miracle-Gro Company (NYSE:SMG - Get Free Report) have earned an average recommendation of "Moderate Buy" from the seven ratings firms that are currently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $71.1667.

SMG has been the topic of a number of research analyst reports. Truist Financial set a $80.00 price objective on shares of Scotts Miracle-Gro and gave the stock a "buy" rating in a report on Monday, July 14th. Wells Fargo & Company raised their price objective on shares of Scotts Miracle-Gro from $72.00 to $75.00 and gave the stock an "overweight" rating in a report on Wednesday, July 9th. UBS Group set a $68.00 price objective on shares of Scotts Miracle-Gro and gave the stock a "neutral" rating in a report on Thursday, July 31st. Stifel Nicolaus dropped their price objective on shares of Scotts Miracle-Gro from $71.00 to $70.00 and set a "hold" rating on the stock in a report on Monday, August 4th. Finally, Wall Street Zen upgraded shares of Scotts Miracle-Gro from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd.

Scotts Miracle-Gro Trading Down 0.1%

Shares of SMG stock traded down $0.03 on Tuesday, hitting $61.23. The stock had a trading volume of 573,529 shares, compared to its average volume of 1,050,146. Scotts Miracle-Gro has a twelve month low of $45.61 and a twelve month high of $93.90. The firm has a market cap of $3.54 billion, a P/E ratio of 80.56 and a beta of 1.97. The company has a fifty day moving average price of $64.89 and a two-hundred day moving average price of $60.56.

Scotts Miracle-Gro (NYSE:SMG - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The basic materials company reported $2.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.19 by $0.40. Scotts Miracle-Gro had a net margin of 1.54% and a negative return on equity of 60.46%. The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same quarter in the previous year, the business earned $2.31 EPS. The firm's revenue was down 1.2% on a year-over-year basis. Scotts Miracle-Gro has set its FY 2025 guidance at 3.500- EPS. On average, analysts expect that Scotts Miracle-Gro will post 3.42 earnings per share for the current year.

Scotts Miracle-Gro Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Friday, August 22nd will be paid a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 4.3%. The ex-dividend date is Friday, August 22nd. Scotts Miracle-Gro's payout ratio is presently 347.37%.

Insider Transactions at Scotts Miracle-Gro

In other Scotts Miracle-Gro news, Director Hagedorn Partnership, L.P. sold 70,000 shares of Scotts Miracle-Gro stock in a transaction on Monday, August 4th. The shares were sold at an average price of $62.28, for a total value of $4,359,600.00. Following the sale, the director directly owned 13,274,274 shares in the company, valued at approximately $826,721,784.72. The trade was a 0.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 25.37% of the company's stock.

Institutional Trading of Scotts Miracle-Gro

Large investors have recently added to or reduced their stakes in the company. American National Bank & Trust acquired a new stake in Scotts Miracle-Gro in the second quarter valued at $28,000. Spire Wealth Management lifted its stake 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 valued at $30,000 after acquiring an additional 454 shares during the last quarter. UMB Bank n.a. lifted its stake 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 valued at $31,000 after acquiring an additional 465 shares during the last quarter. Avalon Trust Co acquired a new stake in Scotts Miracle-Gro in the first quarter valued at $41,000. Finally, Byrne Asset Management LLC acquired a new stake in Scotts Miracle-Gro in the second quarter valued at $45,000. Institutional investors and hedge funds own 74.07% of the company's stock.

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.