|Bid||75.00 x 1000|
|Ask||84.04 x 800|
|Day's Range||80.55 - 82.79|
|52 Week Range||72.58 - 180.43|
|Beta (5Y Monthly)||1.21|
|PE Ratio (TTM)||9.10|
|Earnings Date||Nov 02, 2022|
|Forward Dividend & Yield||2.64 (2.97%)|
|Ex-Dividend Date||May 26, 2022|
|1y Target Est||92.00|
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Its cannabis-related subsidiary, The Hawthorne Gardening Company, continues to suffer from overcapacity in the industry, and its sales declined a whopping 63%. In fact, the overall company's sales were so weak that it left the company with "higher leverage than we want to maintain," according to CEO Jim Hagedorn on the earnings release. As a reminder, the financial world typical gauges debt levels on the basis of earnings, so as its earnings outlook gets worse, so will Scotts come under pressure to reduce debt.
Scotts Miracle-Gro (SMG) sees lower-than-expected sales in the U.S. Consumer segment and sustained pressure on sales in the Hawthorne unit in Q3.
Key Takeaways; Cannabis Sector Cannabis REIT IIPR generated record revenue of $70.5 million in the second quarter. Green Thumb Q2 revenue increased 5%, to $254 million. Scotts Miracle-Gro share price soared, despite the company missing earnings estimates. Key Takeaways; Psychedelic Sector Awakn received CA$2.5 government funding for phase III trial. July was a great month […] The post Weekly Roundup on the Cannabis Sector & Psychedelic Sector appeared first on Market Exclusive.