Currently, Scotts Miracle-Gro Company [SMG] is trading at $74.98, up 0.04%. One of the good ways to gauge the recent performance is if the stock’s short-term value is rising or falling. The SMG shares have gain 4.47% over the last week, with a monthly amount glided 12.20%, and seem to be holding up well over a long-time horizon.
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On 4, April 2024, ScottsMiracle-Gro Provides Update on Fiscal 2024 Second Quarter. In a post published today on Yahoo Finance, The Scotts Miracle-Gro Company (NYSE: SMG), the world’s leading marketer of branded consumer lawn and garden as well as indoor and hydroponic growing products, today announced that it expects to achieve a second-quarter net leverage ratio around 7 times adjusted EBITDA. This will be below the Company’s first-quarter net leverage ratio and its second-quarter maximum of 7.75 times.
From an analyst’s perspective:
Scotts Miracle-Gro Company [NYSE: SMG] stock has seen the most recent analyst activity on April 05, 2024, when Truist downgraded its rating to a Hold and also boosted its price target to $75 from $65. Previously, Raymond James downgraded its rating to Mkt Perform on March 25, 2024. On July 13, 2023, downgrade downgraded it’s rating to Hold and revised its price target to $72 on the stock. Truist upgraded its rating to a Buy and increased its price target to $80 on July 11, 2023. JP Morgan upgraded its rating to a Overweight but $80 remained the price target by the analyst firm on May 08, 2023. Stifel upgraded its rating to Buy for this stock on May 01, 2023, and upped its price target to $80. In a note dated April 26, 2023, Barclays downgraded an Equal Weight rating on this stock and revised its target price from $105 to $70.
This stock has fluctuated between a low of $43.67 and a high of $78.25 over the last 52 weeks. Currently, Wall Street analysts expect the stock to reach $77.67 within the next 12 months. Scotts Miracle-Gro Company [NYSE: SMG] shares were valued at $74.98 at the most recent close of the market. An investor can expect a potential return of 3.59% based on the average SMG price forecast.
Analyzing the SMG fundamentals
Trailing Twelve Months sales for Scotts Miracle-Gro Company [NYSE:SMG] were 3.44B which represents -22.07% decline. Gross Profit Margin for this corporation currently stands at 0.18% with Operating Profit Margin at -0.05%, Pretax Profit Margin comes in at -0.14%, and Net Profit Margin reading is -0.12%. To continue investigating profitability, this company’s Return on Assets is posted at -0.11, Equity is 4.16 and Total Capital is -0.06. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at -7.85.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 74.15 points at the first support level, and at 73.31 for the second support level. However, for the 1st resistance point, the stock is sitting at 76.07, and for the 2nd resistance point, it is at 77.15.
Scotts Miracle-Gro Company [SMG] reported earnings per share of -$1.45 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of -$1.53/share, meaning a difference of $0.08 and a surprise factor of 5.20%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were -$2.77 per share as compared to estimates of -$2.88 per share, a difference of $0.11 representing a surprise of 3.80%.
Ratios To Look Out For
To put it in perspective, the Current Ratio for Scotts Miracle-Gro Company [NYSE:SMG] is 2.20. Also, the Quick Ratio is 0.67, while the Cash Ratio stands at 0.01. Considering the valuation of this stock, the price to sales ratio is 1.24.
Transactions by insiders
Recent insider trading involved Hagedorn Partnership, L.P., Director, that happened on Mar 04 ’24 when 86356.0 shares were sold. 10% Owner, Hagedorn Partnership, L.P. completed a deal on Feb 23 ’24 to sell 15000.0 shares. Meanwhile, Director Johnson Stephen L sold 1394.0 shares on Feb 20 ’24.
