Potash Corp Stock Rating Lowered by Cantor Fitzgerald (POT)
Potash Corp (NYSE:POT) was downgraded by stock analysts at Cantor Fitzgerald from a “hold” rating to a “sell” rating in a report issued on Friday, TheFlyOnTheWall.com reports. They currently have a $31.00 target price on the stock, down from their previous target price of $36.00. Cantor Fitzgerald’s price objective would indicate a potential downside of 2.45% from the company’s current price.
The analysts wrote, “targeting maximizing revenue over the next 24 months and is not looking to win any markets from Belaruskali.” Prattas commented that, “it is conceivable that a reunion of Belaruskali and Uralkali may be at the expense of its competitors at least until it has regained the market share it has given up.”
Several other analysts have also recently commented on the stock. 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.
Seven equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $35.98.
Shares of Potash Corp (NYSE:POT) traded up 2.51% during mid-day trading on Friday, hitting $32.5773. 17,844,106 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’s 50-day moving average is $30.90 and its 200-day moving average is $37.92. The company has a market cap of $28.242 billion and a price-to-earnings ratio of 12.32. Potash Corp also was the recipient of some unusual options trading activity on Tuesday. Investors acquired 107,596 call options on the company. This is an increase of approximately 360% compared to the typical daily volume of 23,405 call options.
Potash Corp (NYSE:POT) last issued its quarterly earnings data 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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