Agrium Given Average Recommendation of “Hold” by Analysts (NYSE:AGU)
Shares of Agrium (NYSE:AGU) have been given a consensus recommendation of “Hold” by the eighteen brokerages that are covering the company, American Banking & Market News reports. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $102.42.
Agrium (NYSE:AGU) traded down 1.71% during mid-day trading on Friday, hitting $88.886. 251,908 shares of the company’s stock traded hands. Agrium has a 52-week low of $81.60 and a 52-week high of $97.97. The stock’s 50-day moving average is $91.36 and its 200-day moving average is $91.95. The company has a market cap of $12.772 billion and a P/E ratio of 16.65. Agrium also was the target of a large growth in short interest in the month of July. As of July 15th, there was short interest totalling 2,652,550 shares, a growth of 98.9% from the June 30th total of 1,333,933 shares. Currently, 1.9% of the shares of the company are short sold. Based on an average daily trading volume, of 613,188 shares, the short-interest ratio is presently 4.3 days.
Agrium (NYSE:AGU) last announced its earnings results on Wednesday, August 6th. The company reported $4.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.12 by $0.25. The company had revenue of $7.34 billion for the quarter, compared to the consensus estimate of $7.17 billion. During the same quarter in the previous year, the company posted $4.94 earnings per share. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. On average, analysts predict that Agrium will post $6.25 earnings per share for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Canaccord Genuity cut their price target on shares of Agrium from $106.00 to $104.00 in a research note on Friday. Separately, analysts at Scotiabank reiterated a “sector outperform” rating on shares of Agrium in a research note on Tuesday, June 10th. Finally, analysts at Standpoint Research initiated coverage on shares of Agrium in a research note on Friday, May 30th. They set an “accumulate” rating and a $115.00 price target on the stock.
Agrium Inc (NYSE:AGU) is a global producer and marketer of nutrients for agricultural and industrial markets.
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