One of Bitcoin’s First Millionaires Issues Controversial Warning

On Monday, September 21, at 4 p.m. ET, Matt McCall will sit down with this bitcoin tycoon to warn the public about an urgent event about to rock the crypto world.

Mon, September 21 at 4:00PM ET

Trade of the Day: Scotts Miracle-Gro Co (SMG) Stock Ready to Sprout

SMG stock looks good thanks to innovation and cost controls

Scotts Miracle-Gro Co (NYSE:SMG) — “Scotts” is one of the most recognizable brand names in America and the leading supplier of products for the consumer and the professional turf and horticulture markets.

Standard & Poor’s views Scotts’ prospects as “favorable” with strong free cash flow through fiscal year 2017 and solid increases in volume. Dividend increases and a share repurchase plan of $500 million through FY 2019 enhance the attraction of the shares.

Revenues are projected to rise 6.5% in FY 2017 (Sep) and 3.3% in FY 2018 vs. a drop of 6% in FY 2016. On Jan. 31 S&P Capital IQ maintained their “four-star buy” on the shares and raised their 12-month target to $105 from $101. They also increased their FY 2017 EPS estimate by 6 cents to $4.29 and FY 2018’s to $4.80, up 7 cents. They note that strong EPS growth should continue due to innovation, acquisitions, and cost controls. The current dividend is $2, for a dividend yield. 2.1%.

SMG stock broke from about $75 in August 2015, accelerating to over $98 in December. Since December, the shares have been consolidating within a triangle, the apex of which is currently being challenged. Four CBR Buy signals (my proprietary system) at the bullish support line indicate that an upside breakout is pending.

But lately, volume has been flat despite a recent MACD buy signal. Traders should enter a purchase order at a limit price of $93 for a price objective of $110 for a proposed gain of 18%. A stop-loss order at $90 is suggested.

Click to Enlarge

Trade of the Day: Scotts Miracle-Gro Co (SMG) Stock Ready to Sprout

Tell us what you think about this article! Drop us an email at, chat with us on Twitter at @InvestorPlace or comment on the post on Facebook. Read more about our comments policy here.

Article printed from InvestorPlace Media,

©2020 InvestorPlace Media, LLC