Potash Corp Given New $29.00 Price Target at Canaccord Genuity (POT)
Investment analysts at Canaccord Genuity lowered their target price on shares of Potash Corp (NYSE:POT) from $30.00 to $29.00 in a note issued to investors on Wednesday, ARN reports. The firm currently has a “hold” rating on the stock. Canaccord Genuity’s price objective suggests a potential downside of 10.58% from the stock’s previous close.
Shares of Potash Corp (NYSE:POT) traded down 0.06% during mid-day trading on Wednesday, hitting $32.43. The stock had a trading volume of 12,774,645 shares. 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 $30.4 and a 200-day moving average of $37.75. The company has a market cap of $28.114 billion and a price-to-earnings ratio of 12.58.
Potash Corp (NYSE:POT) last announced its earnings results on Thursday, July 25th. The company reported $0.73 earnings per share for the quarter, missing the analysts’ 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 last year, the company posted $1.01 earnings per share. Potash Corp’s revenue was down 10.5% compared to the same quarter last year. Analysts expect that Potash Corp will post $2.45 EPS for the current fiscal year.
A number of other firms have also recently commented on POT. Analysts at Morgan Stanley initiated coverage on shares of Potash Corp (NYSE:POT) in a research note to investors on Monday. They set an “equal weight” rating on the stock. Separately, analysts at Cantor Fitzgerald downgraded shares of Potash Corp (NYSE:POT) from a “hold” rating to a “sell” rating in a research note to investors on Friday, September 13th. They now have a $31.00 price target on the stock, down previously from $36.00. Finally, 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.
Seven analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $35.61.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, November 5th. Stockholders of record on Tuesday, October 15th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 4.32%. The ex-dividend date of this dividend is Thursday, October 10th.
Potash Corporation of Saskatchewan Inc (NYSE:POT) is an integrated fertilizer and related industrial and feed products company.
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