Short Interest in Monsanto Company Drops By 8.9% (MON)
Monsanto Company (NYSE:MON) saw a significant drop in short interest in the month of July. As of July 31st, there was short interest totalling 40,945,183 shares, a drop of 8.9% from the July 15th total of 44,957,663 shares, Analyst Ratings.Net reports. Based on an average trading volume of 4,177,631 shares, the days-to-cover ratio is currently 9.8 days. Currently, 7.8% of the shares of the stock are sold short.
A number of analysts have recently weighed in on MON shares. Analysts at BGC Financial downgraded shares of Monsanto Company from a “buy” rating to a “hold” rating in a research note on Friday, August 1st. They now have a $5.85 price target on the stock, down previously from $6.70. Separately, analysts at Berenberg Bank initiated coverage on shares of Monsanto Company in a research note on Wednesday, July 16th. They set a “buy” rating and a $141.00 price target on the stock. Finally, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Monsanto Company in a research note on Friday, June 27th. They now have a $146.00 price target on the stock, up previously from $130.00. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $128.99.
Monsanto Company (NYSE:MON) opened at 118.99 on Monday. Monsanto Company has a 52-week low of $94.00 and a 52-week high of $128.79. The stock’s 50-day moving average is $118.8 and its 200-day moving average is $115.4. The company has a market cap of $62.421 billion and a price-to-earnings ratio of 23.53.
Monsanto Company (NYSE:MON) last released its earnings data on Wednesday, June 25th. The company reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.06. The company had revenue of $4.25 billion for the quarter, compared to the consensus estimate of $4.41 billion. During the same quarter in the previous year, the company posted $1.66 earnings per share. The company’s revenue for the quarter was up .0% on a year-over-year basis. Analysts expect that Monsanto Company will post $5.22 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, October 31st. Shareholders of record on Friday, October 10th will be paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 1.65%. The ex-dividend date is Wednesday, October 8th. This is a positive change from Monsanto Company’s previous quarterly dividend of $0.43.
Monsanto Company (NYSE:MON) along with its subsidiaries, is a provider of agricultural products for farmers.
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