Monsanto’s “Neutral” Rating Reaffirmed at Zacks (MON)
Monsanto (NYSE:MON)‘s stock had its “neutral” rating restated by Zacks in a report issued on Tuesday, Analyst Ratings Network.com reports. They currently have a $110.00 price target on the stock. Zacks‘ target price points to a potential upside of 5.09% from the stock’s previous close.
Zacks‘ analyst wrote, “Monsanto reported weak results for the fourth quarter of fiscal 2013, missing the Zacks Consensus Estimate for earnings as well as revenues. The company reported loss per share of 47 cents from operations, wider than the year-ago loss of 44 cents. However, revenues increased 5.0% year over year and came in at $2.2 billion. Going forward, Monsanto anticipates earnings contribution from the recently announced agreement for the acquisition of Climate Corporation. Also, Monsanto intends to continue rewarding its shareholders through share buybacks. However, Monsanto’s presence in various geographies and market segments exposes it to the risks of currency rate fluctuation as well as competition. The amount of expenditure involved in the research and development area of a company like Monsanto also increases our concern. Thus, we maintain our Neutral recommendation on the stock.”
Monsanto (NYSE:MON) traded down 0.45% during mid-day trading on Tuesday, hitting $104.20. The stock had a trading volume of 1,830,566 shares. Monsanto has a one year low of $82.70 and a one year high of $109.33. The stock’s 50-day moving average is $102. and its 200-day moving average is $102.7. The company has a market cap of $55.382 billion and a price-to-earnings ratio of 22.75.
Monsanto (NYSE:MON) last issued its quarterly earnings data on Wednesday, October 2nd. The company reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.43) by $0.04. The company had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the previous year, the company posted ($0.44) earnings per share. The company’s revenue for the quarter was up 5.0% on a year-over-year basis.
Several other analysts have also recently commented on the stock. Analysts at Canaccord Genuity raised their price target on shares of Monsanto from $121.00 to $124.00 in a research note to investors on Thursday, October 3rd. They now have a “buy” rating on the stock. Separately, analysts at Deutsche Bank raised their price target on shares of Monsanto from $116.00 to $120.00 in a research note to investors on Thursday, October 3rd. They now have a “buy” rating on the stock. Finally, analysts at Goldman Sachs Group Inc. downgraded shares of Monsanto from a “conviction-buy” rating to a “buy” rating in a research note to investors on Thursday, October 3rd. They now have a $118.00 price target on the stock, down previously from $124.00. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and fourteen have issued a buy rating to the company. Monsanto currently has an average rating of “Buy” and a consensus target price of $110.64.
Monsanto Company (NYSE:MON), along with its subsidiaries, is a provider of agricultural products for farmers.
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