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Agribusiness Stocks: November Post-Earnings Update

PART:
1 2 3 4 5 6 7 8 9
Part 8
Agribusiness Stocks: November Post-Earnings Update PART 8 OF 9

Scotts Miracle-Gro: Updates for November 2017

Scotts Miracle-Gro

Scotts Miracle-Gro (SMG) released its 4Q17 earnings on November 7, 2017. The company reported an EPS (earnings per share) of -$0.26, which beat analysts’ estimate of an EPS of -$0.29 for the quarter.

Since the company’s earnings release, the stock closed ~3.7% lower at $98.6 as of November 10. The stock has returned 4% year-to-date, which underperformed the S&P 500’s (SPY) returns of ~15% during the same period.

Scotts Miracle-Gro: Updates for November 2017

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Analysts’ ratings

As of November 10, the consensus mean rating of nine analysts for Scotts Miracle-Gro stood at 2.3 with an overall recommendation of a “buy.” The rating changed from 2.2 in our rating series in October.

Out of the nine analysts, two have maintained a “strong buy” recommendation on the stock. Compared to three analysts a month ago, only two analysts have a “buy” recommendation on the stock.

In the current month, one additional analyst recommended a “hold” for the company, which brought the total number of analysts with that rating to five. None of the analysts had a “sell” or a “strong sell” rating on the stock. It’s a trend that we’ve seen in most of the companies covered in this series including Monsanto (MON) and FMC (FMC).

Target price

The current consensus mean target price for Scotts Miracle-Gro stood at $101.8, which fell from $103.3 in October.

Following the company’s earnings, JPMorgan Chase cut its rating on the stock to “neutral” from “overweight.” However, it raised the target price to $99 from $98.

In the next part, we’ll discuss analysts’ ratings for Sociedad Quimica y Minera de Chile (SQM).

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