Potash Corp. of Saskatchewan (POT) Upgraded at Zacks Investment Research
Potash Corp. of Saskatchewan (NYSE:POT) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued on Tuesday.
According to Zacks, “Estimates Potash Corp. have been stable of late. In a big move, Potash Corp. and Agrium have agreed to merge in a deal that would create the world’s biggest crop nutrient company. The proposed merger is expected to create significant cost and operational synergies. The company should also gain from an improving demand environment and its strong operational capability. However, Potash Corp. faces headwinds associated with macroeconomic uncertainties stemming from weakness across specific developing markets. It is also exposed to challenges in its nitrogen business and a weak pricing environment. The prevailing softness in agricultural commodity pricing remains a headwind.”
A number of other equities analysts also recently commented on POT. Vetr raised shares of Potash Corp. of Saskatchewan from a “sell” rating to a “hold” rating and set a $16.08 target price on the stock in a research note on Tuesday, May 24th. Stifel Nicolaus downgraded shares of Potash Corp. of Saskatchewan from a “buy” rating to a “hold” rating in a research note on Tuesday, May 31st. Morgan Stanley reaffirmed a “hold” rating and set a $19.00 target price on shares of Potash Corp. of Saskatchewan in a research note on Thursday, June 16th. Barclays PLC reaffirmed an “underweight” rating and set a $14.00 target price on shares of Potash Corp. of Saskatchewan in a research note on Saturday, June 25th. Finally, Citigroup Inc. reduced their target price on shares of Potash Corp. of Saskatchewan from $18.00 to $17.00 and set a “neutral” rating on the stock in a research note on Thursday, July 7th. Seven analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and four have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $17.43.
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Shares of Potash Corp. of Saskatchewan (NYSE:POT) traded up 0.94% during midday trading on Tuesday, hitting $16.11. 4,915,440 shares of the stock traded hands. The company has a market cap of $13.52 billion, a price-to-earnings ratio of 19.89 and a beta of 0.92. The stock has a 50-day moving average of $16.54 and a 200-day moving average of $16.86. Potash Corp. of Saskatchewan has a 52-week low of $14.64 and a 52-week high of $23.22.
Potash Corp. of Saskatchewan (NYSE:POT) last issued its earnings results on Thursday, July 28th. The fertilizer maker reported $0.18 EPS for the quarter, hitting analysts’ consensus estimates of $0.18. Potash Corp. of Saskatchewan had a net margin of 13.20% and a return on equity of 9.17%. The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same period in the previous year, the firm earned $0.50 earnings per share. Potash Corp. of Saskatchewan’s quarterly revenue was down 39.2% compared to the same quarter last year. On average, equities analysts predict that Potash Corp. of Saskatchewan will post $0.53 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 2nd. Investors of record on Wednesday, October 12th will be given a $0.10 dividend. The ex-dividend date of this dividend is Friday, October 7th. This represents a $0.40 annualized dividend and a yield of 2.51%. Potash Corp. of Saskatchewan’s dividend payout ratio (DPR) is 123.46%.
A number of hedge funds have recently added to or reduced their stakes in the stock. Carnick & Kubik Group LLC acquired a new stake in Potash Corp. of Saskatchewan during the second quarter valued at approximately $248,000. Northwestern Mutual Wealth Management Co. increased its stake in Potash Corp. of Saskatchewan by 17.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 46,762 shares of the fertilizer maker’s stock valued at $759,000 after buying an additional 7,089 shares during the period. Cohen & Steers Inc. increased its stake in Potash Corp. of Saskatchewan by 411.3% in the second quarter. Cohen & Steers Inc. now owns 205,494 shares of the fertilizer maker’s stock valued at $3,338,000 after buying an additional 165,300 shares during the period. Lincluden Management Ltd. boosted its position in shares of Potash Corp. of Saskatchewan by 18.2% in the second quarter. Lincluden Management Ltd. now owns 715,440 shares of the fertilizer maker’s stock valued at $11,625,000 after buying an additional 110,125 shares in the last quarter. Finally, IFP Advisors Inc boosted its position in shares of Potash Corp. of Saskatchewan by 119.1% in the second quarter. IFP Advisors Inc now owns 16,142 shares of the fertilizer maker’s stock valued at $262,000 after buying an additional 8,774 shares in the last quarter. Hedge funds and other institutional investors own 60.34% of the company’s stock.
About Potash Corp. of Saskatchewan
Potash Corporation of Saskatchewan Inc is a fertilizer producer producing various primary crop nutrients, such as potash, nitrogen and phosphate. The Company operates through three segments: potash, nitrogen and phosphate. It owns and operates approximately five potash operations in Saskatchewan and one in New Brunswick.
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