Potash Corp. of Saskatchewan (POT) Upgraded to “Outperform” at RBC Capital Markets
Potash Corp. of Saskatchewan (NYSE:POT) was upgraded by research analysts at RBC Capital Markets from a “sector perform” rating to an “outperform” rating in a research note issued on Friday, The Fly reports.
Other equities research analysts have also issued reports about the company. Vetr lowered Potash Corp. of Saskatchewan from a “hold” rating to a “sell” rating and set a $16.44 price target for the company. in a report on Tuesday, June 14th. Morgan Stanley reissued a “hold” rating and issued a $19.00 price objective on shares of Potash Corp. of Saskatchewan in a research note on Thursday, June 16th. BMO Capital Markets reissued a “market perform” rating on shares of Potash Corp. of Saskatchewan in a research note on Monday, August 1st. Sanford C. Bernstein set a $19.00 price objective on Potash Corp. of Saskatchewan and gave the company a “buy” rating in a research note on Tuesday, August 30th. Finally, Susquehanna reissued a “neutral” rating and issued a $16.00 price objective (up from $14.00) on shares of Potash Corp. of Saskatchewan in a research note on Wednesday, August 17th. Seven investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Potash Corp. of Saskatchewan presently has a consensus rating of “Hold” and a consensus target price of $17.63.
Shares of Potash Corp. of Saskatchewan (NYSE:POT) traded down 1.24% during mid-day trading on Friday, reaching $15.98. 6,351,726 shares of the company’s stock traded hands. The firm has a 50-day moving average price of $16.53 and a 200-day moving average price of $16.67. The company has a market capitalization of $13.41 billion, a P/E ratio of 19.73 and a beta of 0.71. Potash Corp. of Saskatchewan has a 1-year low of $14.64 and a 1-year high of $22.37.
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Potash Corp. of Saskatchewan (NYSE:POT) last announced its quarterly earnings results on Thursday, July 28th. The fertilizer maker reported $0.18 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.18. The business earned $1.05 billion during the quarter, compared to analyst estimates of $1.18 billion. Potash Corp. of Saskatchewan had a return on equity of 9.17% and a net margin of 13.20%. The firm’s revenue was down 39.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.50 EPS. On average, equities research analysts forecast that Potash Corp. of Saskatchewan will post $0.53 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 2nd. Shareholders of record on Wednesday, October 12th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date of this dividend is Friday, October 7th. Potash Corp. of Saskatchewan’s dividend payout ratio is currently 123.46%.
Institutional investors have recently bought and sold shares of the company. BNP Paribas Arbitrage SA raised its position in Potash Corp. of Saskatchewan by 14.5% in the third quarter. BNP Paribas Arbitrage SA now owns 144,645 shares of the fertilizer maker’s stock worth $2,361,000 after buying an additional 18,372 shares in the last quarter. Carnick & Kubik Group LLC acquired a new position in Potash Corp. of Saskatchewan during the second quarter worth approximately $248,000. Northwestern Mutual Wealth Management Co. raised its position 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 worth $759,000 after buying an additional 7,089 shares in the last quarter. Cohen & Steers Inc. raised its position 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 worth $3,338,000 after buying an additional 165,300 shares in the last quarter. Finally, Lincluden Management Ltd. raised its position in 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 worth $11,625,000 after buying an additional 110,125 shares in the last quarter. 58.84% of the stock is currently owned by institutional investors.
Potash Corp. of Saskatchewan Company Profile
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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