NEW YORK, NY--(Marketwire - Mar 12, 2013) - Markets are currently in a bullish mode as the general economy shows signs of improvement. The effect is clearly visible on agriculture stocks as well. The farming sector is expected to grow as it comes out of the shadow of previous year, marred with various natural calamities. The Scotts Miracle-Gro Company (
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The Scotts Miracle-Gro Co. recently reported its quarterly results and provided better-than-expected numbers. Its first quarter revenue stood at $205.8 million, surpassing consensus estimates of $199.6 million. Its net loss for the quarter was reported at $1.12 apiece while the markets were expecting the loss to be at $1.13 per share.
Looking forward, the company expects its second quarter revenue to be at $1.17 billion. It also expects bottom-line to grow to $2.09 per share. For the full year, the company expects to report its EPS at $2.63 apiece. Overall, Scotts Miracle-Gro is in an upbeat mood.
However, despite strong results, The Scotts Miracle-Gro Company also faces tailwinds as it sees aggressive inside selling. Insider selling is generally not considered a good omen for a company. The company also sees talent churn as its CFO resigned earlier this year. However, the stock grew 7.69 percent hitherto in 2013 and offered 2.76 percent dividend yield to its investors. The company recently paid 32.5 cents per share in quarterly dividend, offering good return to its investors.
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Michael Thomas Smith