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In a challenging market environment, Scotts Miracle-Gro Company (NYSE:SMG) stock has touched a 52-week low, dipping to $46.31. According to InvestingPro data, the stock currently trades at an attractive valuation with a strong free cash flow yield, while analysts see a potential 31% upside from current levels. This price level reflects a significant downturn from the company’s performance over the past year, with the stock experiencing a 1-year change of -31.04%. Despite the challenges, the company maintains a notable 4.93% dividend yield and has sustained dividend payments for 21 consecutive years. Investors are closely monitoring the stock as it navigates through market pressures, with the hope that the company’s strategic initiatives may eventually lead to a rebound from this low point. The current market sentiment around SMG stock is cautious, as stakeholders await the company’s response to the factors contributing to its recent decline. For deeper insights into SMG’s financial health and growth prospects, access the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Scotts Miracle-Gro reported its second-quarter earnings, revealing adjusted earnings per share of $3.98, slightly above the analyst estimate of $3.94. However, the company faced a revenue shortfall, posting $1.42 billion compared to the expected $1.5 billion, marking a 7% decline from the previous year. The U.S. Consumer segment saw a 5% decrease in sales to $1.31 billion, attributed to a colder start to the lawn and garden season, which shifted some sales into the third quarter. Despite the revenue miss, Scotts Miracle-Gro reaffirmed its full-year guidance for several key financial metrics in its U.S. Consumer segment. The company’s adjusted gross margin rate improved to 39.1% from 35.3% due to reduced costs and better product mix. However, the company withdrew its full-year revenue guidance for the Hawthorne segment, citing ongoing uncertainty in the cannabis industry. Scotts Miracle-Gro plans to update its outlook for this segment in early June.
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