SMG Stock Recent News

The headline numbers for Scotts (SMG) give insight into how the company performed in the quarter ended March 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

Scotts Miracle-Gro (SMG) came out with quarterly earnings of $3.69 per share, beating the Zacks Consensus Estimate of $3.35 per share. This compares to earnings of $3.78 per share a year ago.

MARYSVILLE, Ohio, April 22, 2024 (GLOBE NEWSWIRE) -- 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, will release its second quarter financial results on Wednesday, May 1, 2024, prior to the opening of the U.S. financial markets. The Company will host a video presentation via webcast at 9:00 a.m. ET to discuss those results. The webcast will be followed by an audio question-and-answer session.

Scotts (SMG) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).

Marijuana stock investors have been able to see better trading over the last several months. Much of this is due to speculation of what is to happen in the cannabis industry. Currently, more than 50% of America has legalized cannabis. Even though marijuana is still federally illegal states are reaching revenues in the billions. This is just the start as regulations and laws continue to shift as investors hope to see a stronger sector.

In the second quarter, Scotts Miracle-Gro (SMG) records near-record retail shipments, with year-to-date POS units trending at mid-teens percentage growth compared to the last year.

Scotts Miracle-Gro's (SMG) subsidiary, Hawthorne Gardening, partners with BFG Supply to distribute its cultivation supplies and strengthen its position in the hydroponics market.

In today's world of cannabis investing marijuana stocks could soon see less volatile trading. This possibility comes from a few future factors. For starters the reason there is currently a large amount of volatile trading is from lack of reform and better regulations. Even with all the growth and success some feel that the green rush is just a bubble soon to burst. At this time cannabis is still federally illegal even with more than half of the United States having legalized the substance. In the US there is an increase in the demand for more cannabis products which companies plan to meet.

Raymond James on Monday cut its rating on Scott's Miracle-Gro Co. to market perform from strong buy after a runup in its stock price has left the company at roughly fair-market value.

Scotts (SMG) reported earnings 30 days ago. What's next for the stock?