Scotts Miracle-Gro stock hits 52-week low at $55.6

In a challenging market environment, Scotts Miracle-Gro Company (NYSE:SMG) stock has wilted to its 52-week low, trading at $55.6. The lawn and garden care giant has faced a tough year, with its stock price reflecting a significant downturn. According to InvestingPro data, the company maintains a solid 4.61% dividend yield and has consistently paid dividends for 21 consecutive years, offering some comfort to long-term investors. Over the past year, Scotts Miracle-Gro has seen its value decrease by 25.08%, a stark contrast to its previous market performance. Despite current challenges, InvestingPro analysis suggests potential upside, with analyst price targets ranging up to $100. Investors are closely monitoring the company’s strategies to revitalize growth and regain market confidence amidst this period of decline. With revenue growth of 3.61% and strong free cash flow yield, the company shows signs of resilience. Get deeper insights and access to 7 additional exclusive ProTips with an InvestingPro subscription.

In other recent news, Scotts Miracle-Gro reported its Q1 2024 earnings, exceeding expectations with a reported loss of $0.89 per share against a forecasted loss of $1.24 per share. The company’s revenue also surpassed projections, reaching $417 million compared to the anticipated $392.29 million. This performance was driven by increased U.S. consumer volume, although the Hawthorne segment faced challenges with a 35% decline in sales. Stifel analysts recently upgraded Scotts Miracle-Gro shares from Hold to Buy, while reducing the price target to $70.00 from $78.00, citing the company’s potential for a strong near-term earnings recovery. The analysts at Stifel highlighted the company’s attractive dividend yield of 4.7% and noted that the current market valuation presents an attractive risk/reward scenario. Despite adverse conditions in early months, Scotts Miracle-Gro maintains unique differentiation within its industry, according to the analysts. The firm anticipates a compound annual growth rate of 23% in earnings per share from FY24 to FY27. These developments reflect a positive outlook for Scotts Miracle-Gro amidst ongoing market challenges.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.