Scotts Miracle-Gro Co (SMG) is Upgraded by JP Morgan to Overweight

Scotts Miracle-Gro Co (SMG) was Upgraded by JP Morgan to ” Overweight”. Earlier the firm had a rating of “Neutral ” on the company shares. JP Morgan advised their investors in a research report released on Aug 4, 2016.

On the company’s financial health, Scotts Miracle-Gro Co reported $2.16 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Aug 3, 2016. Analyst had a consensus of $2.11. The company had revenue of $994.10 million for the quarter, compared to analysts expectations of $1045.84 million. The company’s revenue was down -10.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $2.68 EPS.

Scotts Miracle-Gro Co closed down -0.55 points or -0.74% at $73.67 with 5,21,676 shares getting traded on Tusday. Post opening the session at $74.17, the shares hit an intraday low of $73.3 and an intraday high of $74.389 and the price fluctuated in this range throughout the day.Shares ended Tusday session in Red.

In a different news, on May 13, 2016, James Hagedorn (Chairman and CEO) sold 44,630 shares at $66.90 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 Company’s 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.

Scotts Miracle-Gro Co

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