Monsanto Receives Overweight Rating from Morgan Stanley (MON)
Monsanto (NYSE:MON)‘s stock had its “overweight” rating restated by research analysts at Morgan Stanley in a report released on Thursday, American Banking News reports.
The analysts wrote, “Monsanto’s F1Q performance was solid against a demanding comp in corn, increased R&D and SG&A expense due to the The Climate Corporation acquisition, further write-offs in Fruits & Vegetables, and a cotton acreage headwind,” the report said. “We have increased comfort that Monsanto will achieve at least the low end of its price/mix guidance. Importantly, the just released 10Q indicates seeds price/mix +10% in F1Q14 despite volume -11% (lower planted corn acreage in Brazil).”
Monsanto (NYSE:MON) last issued its quarterly earnings data on Wednesday, January 8th. The company reported $0.67 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.64 by $0.03. The company had revenue of $3.15 billion for the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter in the prior year, the company posted $0.62 earnings per share. The company’s quarterly revenue was up 6.9% on a year-over-year basis.
The company also recently announced a quarterly dividend, which is scheduled for Friday, January 31st. Shareholders of record on Friday, January 10th will be paid a dividend of 0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 1.49%. The ex-dividend date is Wednesday, January 8th.
Several other analysts have also recently commented on the stock. Analysts at Canaccord Genuity raised their price target on shares of Monsanto from $124.00 to $135.00 in a research note to investors on Thursday. Separately, analysts at JPMorgan Chase & Co. downgraded shares of Monsanto from an “overweight” rating to a “neutral” rating in a research note to investors on Thursday. They now have a $115.00 price target on the stock, up previously from $113.00. Finally, analysts at Topeka Capital Markets downgraded shares of Monsanto from a “buy” rating to a “hold” rating in a research note to investors on Tuesday. They now have a $127.00 price target on the stock, up previously from $120.50. They noted that the move was a valuation call. Three analysts have rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company. Monsanto has an average rating of “Hold” and a consensus price target of $119.71.
Monsanto Company (NYSE:MON), along with its subsidiaries, is a provider of agricultural products for farmers.
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