Scotts Miracle-Gro (NYSE:SMG) Posts Earnings Results, Beats Estimates By $0.34 EPS

Scotts Miracle-Gro (NYSE:SMG - Get Free Report) issued its quarterly earnings data on Wednesday. The basic materials company reported ($0.89) earnings per share for the quarter, topping analysts' consensus estimates of ($1.23) by $0.34, Zacks reports. Scotts Miracle-Gro had a negative net margin of 0.98% and a negative return on equity of 44.97%. During the same period in the prior year, the company earned ($1.45) earnings per share.

Scotts Miracle-Gro Price Performance

Shares of Scotts Miracle-Gro stock traded down $4.48 during trading on Wednesday, hitting $71.26. 1,553,441 shares of the stock were exchanged, compared to its average volume of 661,919. The stock has a market cap of $4.10 billion, a price-to-earnings ratio of -103.27 and a beta of 1.73. The firm's 50-day moving average price is $71.59 and its 200 day moving average price is $74.66. Scotts Miracle-Gro has a 12-month low of $53.43 and a 12-month high of $93.90.

Scotts Miracle-Gro Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 21st will be given a dividend of $0.66 per share. The ex-dividend date is Friday, February 21st. This represents a $2.64 annualized dividend and a dividend yield of 3.71%. Scotts Miracle-Gro's dividend payout ratio (DPR) is currently -382.61%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Truist Financial dropped their price target on shares of Scotts Miracle-Gro from $90.00 to $70.00 and set a "hold" rating for the company in a research note on Friday, November 8th. JPMorgan Chase & Co. decreased their price target on shares of Scotts Miracle-Gro from $85.00 to $80.00 and set an "overweight" rating for the company in a research report on Thursday, November 7th. Wells Fargo & Company decreased their price target on shares of Scotts Miracle-Gro from $85.00 to $80.00 and set an "overweight" rating for the company in a research report on Tuesday, January 7th. Stifel Nicolaus raised their price target on shares of Scotts Miracle-Gro from $75.00 to $81.00 and gave the company a "hold" rating in a research report on Monday, November 4th. Finally, Jefferies Financial Group began coverage on shares of Scotts Miracle-Gro in a research report on Monday, December 9th. They issued a "hold" rating and a $72.00 price target for the company. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $75.83.

Insider Transactions at Scotts Miracle-Gro

In related news, major shareholder Hagedorn Partnership, L.P. sold 28,000 shares of the business's stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $75.91, for a total value of $2,125,480.00. Following the completion of the sale, the insider now directly owns 13,553,774 shares of the company's stock, valued at $1,028,866,984.34. The trade was a 0.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO James Hagedorn sold 18,368 shares of the business's stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $75.68, for a total transaction of $1,390,090.24. Following the completion of the sale, the chief executive officer now directly owns 87,426 shares of the company's stock, valued at approximately $6,616,399.68. This trade represents a 17.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 58,227 shares of company stock valued at $4,410,268. Insiders own 25.37% 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.