Zacks Investment Research Upgrades Potash Corp. of Saskatchewan (POT) to “Hold”
Potash Corp. of Saskatchewan (NYSE:POT) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors 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.”
POT has been the topic of several other research reports. Edward Jones upgraded shares of Potash Corp. of Saskatchewan from a “hold” rating to a “buy” rating in a research note on Friday, August 19th. Vetr lowered shares of Potash Corp. of Saskatchewan from a “buy” rating to a “hold” rating and set a $17.36 price target on the stock. in a research note on Tuesday, September 6th. RBC Capital Markets restated a “hold” rating on shares of Potash Corp. of Saskatchewan in a research note on Wednesday, August 31st. Citigroup Inc. dropped their price target 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. Finally, Goldman Sachs Group Inc. set a $14.00 price target on shares of Potash Corp. of Saskatchewan and gave the company a “neutral” rating in a research note on Wednesday, August 31st. Seven investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $17.43.
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Shares of Potash Corp. of Saskatchewan (NYSE:POT) traded up 0.7863% on Tuesday, hitting $16.0855. The company had a trading volume of 5,076,939 shares. The company has a 50-day moving average of $16.54 and a 200 day moving average of $16.86. The stock has a market cap of $13.50 billion, a PE ratio of 19.8586 and a beta of 0.92. Potash Corp. of Saskatchewan has a 12 month low of $14.64 and a 12 month high of $23.22.
Potash Corp. of Saskatchewan (NYSE:POT) last announced its quarterly earnings results on Thursday, July 28th. The fertilizer maker reported $0.18 EPS for the quarter, meeting the consensus estimate 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 analyst estimates of $1.18 billion. During the same quarter last year, the business earned $0.50 earnings per share. Potash Corp. of Saskatchewan’s revenue was down 39.2% compared to the same quarter last year. Analysts anticipate that Potash Corp. of Saskatchewan will post $0.53 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 2nd. Investors of record on Wednesday, October 12th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Friday, October 7th. This represents a $0.40 dividend on an annualized basis and a yield of 2.51%. Potash Corp. of Saskatchewan’s payout ratio is presently 123.46%.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Kelly Lawrence W & Associates Inc. CA raised its position in Potash Corp. of Saskatchewan by 28.0% in the second quarter. Kelly Lawrence W & Associates Inc. CA now owns 6,850 shares of the fertilizer maker’s stock worth $111,000 after buying an additional 1,500 shares during the last quarter. Lazard Asset Management LLC raised its position in Potash Corp. of Saskatchewan by 16.7% in the first quarter. Lazard Asset Management LLC now owns 7,000 shares of the fertilizer maker’s stock worth $119,000 after buying an additional 1,000 shares during the last quarter. Huntington Asset Advisors Inc. purchased a new position in Potash Corp. of Saskatchewan during the first quarter worth about $124,000. MUFG Americas Holdings Corp raised its position in Potash Corp. of Saskatchewan by 68.0% in the second quarter. MUFG Americas Holdings Corp now owns 7,730 shares of the fertilizer maker’s stock worth $126,000 after buying an additional 3,130 shares during the last quarter. Finally, Financial Architects Inc raised its position in Potash Corp. of Saskatchewan by 252.2% in the second quarter. Financial Architects Inc now owns 8,100 shares of the fertilizer maker’s stock worth $132,000 after buying an additional 5,800 shares during the last quarter. Institutional investors and hedge funds 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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