J.P. Morgan Lowers F2011 On Scotts Miracle-Gro To $3.15

According to J.P. Morgan, Scotts Miracle-Gro SMG F2011 was lowered from $3.70 to $3.15. J.P. Morgan said that the decrease was due to unfavorable weather trends and a weaker product mix due to greater promotional activity. “The second quarter of 2011 has been generally wet, which could lead to pressure on 3Q:F11 EPS (ends June). We also lowered our F2012 EPS projection from $4.25 to $3.50, and we reduced our F2013 EPS projection from $4.75 to $4.00.” Scotts Miracle-Gro closed on Friday at $51.52.