Scotts Miracle-Gro Co (SMG) reported quarterly earnings results on Tuesday, May-3-2016. The company said it had a profit of $3.15 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.68. Analysts had a consensus of $2.47. The company posted revenue of $1245.20 million in the period, compared to analysts expectations of $1228.28 million. The company’s revenue was up 16.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.29 EPS.
Many Wall Street Analysts have commented on Scotts Miracle-Gro Co. JP Morgan Downgraded Scotts Miracle-Gro Co on Mar 22, 2016 to ” Neutral”, Price Target of the shares are set at $70.
Scotts Miracle-Gro Co opened for trading at $70.81 and hit $72.91 on the upside on Monday, eventually ending the session at $72.4, with a gain of 2.29% or 1.62 points. The heightened volatility saw the trading volume jump to 6,84,352 shares. Company has a market cap of $4,446 M.
In a different news, on Mar 17, 2016, James Hagedorn (Chairman and CEO) sold 124,500 shares at $73.06 per share price. According to the SEC, on Mar 16, 2016, Stephen L Johnson (director) sold 1,900 shares at $73.66 per share price. On Mar 15, 2016, Thomas Randal Coleman (EVP and CFO) sold 894 shares at $73.45 per share price, according to the Form-4 filing with the securities and exchange commission.
The Scotts Miracle-Gro Company (Scotts Miracle-Gro) is a manufacturer and marketer of branded consumer lawn and gardens products. The Companys segments include Global Consumer which manufactures and markets consumer lawn and gardens products including lawn care Gardening and Landscape and Home Protection and Scotts LawnService which provides residential and commercial lawn care tree and shrub care and limited pest control services in the United States through periodic applications of fertilizer and control products. The Company sells its consumer products primarily to home centers mass merchandisers warehouse clubs large hardware chains independent hardware stores nurseries garden centers and food and drug stores through both a direct sales force and its network of brokers and distributors. The primary distribution centers for the Company’s Global Consumer business internationally are located in the United Kingdom France Germany Austria and Australia.