Stock Traders Purchase Large Volume of Potash Corp Put Options (POT)
Shares of Potash Corp (NYSE:POT) saw unusually large options trading activity on Tuesday. Stock investors acquired 21,610 put options on the company, American Banking & Market News reports. This is an increase of 180% compared to the typical daily volume of 7,721 put options.
A number of analysts have recently weighed in on POT shares. Analysts at Zacks downgraded shares of Potash Corp (NYSE:POT) from a “neutral” rating to an “underperform” rating in a research note to investors on Monday, September 2nd. They now have a $27.00 price target on the stock. Separately, analysts at Scotiabank cut their price target on shares of Potash Corp (NYSE:POT) from $33.00 to $28.00 in a research note to investors on Tuesday, August 27th. Finally, analysts at Goldman Sachs Group Inc. downgraded shares of Potash Corp (NYSE:POT) from a “neutral” rating to an “underweight” rating in a research note to investors on Wednesday, August 21st. They now have a $25.00 price target on the stock, down previously from $50.00.
Six equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $36.67.
Potash Corp (NYSE:POT) traded up 3.53% during mid-day trading on Tuesday, hitting $32.82. 27,275,104 shares of the company’s stock traded hands. Potash Corp has a 1-year low of $28.55 and a 1-year high of $44.56. The stock has a 50-day moving average of $31.41 and a 200-day moving average of $38.06. The company has a market cap of $28.452 billion and a price-to-earnings ratio of 12.29.
Potash Corp (NYSE:POT) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.73 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.81 by $0.08. The company had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter in the prior year, the company posted $1.01 earnings per share. The company’s quarterly revenue was down 10.5% on a year-over-year basis. On average, analysts predict that Potash Corp will post $2.46 earnings per share for the current fiscal year.
Potash Corporation of Saskatchewan Inc (NYSE:POT) is an integrated fertilizer and related industrial and feed products company.
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