RBC Capital Markets Reiterates Outperform Rating for Agrium Inc. (AGU)
Agrium Inc. (NYSE:AGU)‘s stock had its “outperform” rating reissued by stock analysts at RBC Capital Markets in a report issued on Wednesday. They presently have a $139.00 target price on the stock, up from their previous target price of $125.00. RBC Capital Markets’ price target suggests a potential upside of 55.46% from the company’s previous close.
Other research analysts also recently issued research reports about the stock. TheStreet upgraded shares of Agrium from a “hold” rating to a “buy” rating in a research note on Thursday, June 16th. BMO Capital Markets restated a “buy” rating and set a $95.00 price objective on shares of Agrium in a research report on Friday, August 5th. Credit Suisse Group AG restated a “buy” rating and set a $91.00 price objective on shares of Agrium in a research report on Thursday, September 1st. Sanford C. Bernstein restated a “buy” rating on shares of Agrium in a research report on Wednesday, August 31st. Finally, Zacks Investment Research upgraded shares of Agrium from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 21st. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $100.78.
Agrium (NYSE:AGU) traded down 0.40% during mid-day trading on Wednesday, hitting $89.05. 447,418 shares of the stock were exchanged. The company has a 50 day moving average price of $91.77 and a 200 day moving average price of $90.43. Agrium has a 52-week low of $79.94 and a 52-week high of $100.24. The firm has a market cap of $12.30 billion, a price-to-earnings ratio of 14.31 and a beta of 1.17.
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Agrium (NYSE:AGU) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $4.18 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $4.08 by $0.10. Agrium had a net margin of 6.18% and a return on equity of 14.22%. The business earned $6.42 billion during the quarter, compared to analyst estimates of $6.67 billion. During the same quarter last year, the firm posted $4.90 earnings per share. The business’s revenue for the quarter was down 8.3% compared to the same quarter last year. On average, analysts anticipate that Agrium will post $5.16 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 20th. Investors of record on Friday, September 30th will be given a $0.875 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $3.50 annualized dividend and a dividend yield of 3.91%. Agrium’s dividend payout ratio is presently 55.73%.
Several large investors have recently added to or reduced their stakes in AGU. Dodge & Cox raised its stake in Agrium by 33.1% in the first quarter. Dodge & Cox now owns 2,772,183 shares of the company’s stock valued at $244,756,000 after buying an additional 689,800 shares in the last quarter. Wellington Management Group LLP raised its stake in Agrium by 13.6% in the first quarter. Wellington Management Group LLP now owns 3,532,573 shares of the company’s stock valued at $311,936,000 after buying an additional 424,215 shares in the last quarter. AXA raised its stake in Agrium by 8.6% in the first quarter. AXA now owns 120,758 shares of the company’s stock valued at $10,706,000 after buying an additional 9,565 shares in the last quarter. Bank of Nova Scotia Trust Co. raised its stake in Agrium by 9.5% in the first quarter. Bank of Nova Scotia Trust Co. now owns 82,364 shares of the company’s stock valued at $7,271,000 after buying an additional 7,146 shares in the last quarter. Finally, UBS Group AG raised its stake in Agrium by 4.3% in the first quarter. UBS Group AG now owns 237,515 shares of the company’s stock valued at $20,971,000 after buying an additional 9,841 shares in the last quarter. Institutional investors and hedge funds own 69.38% of the company’s stock.
Agrium Company Profile
Agrium Inc is a producer and distributor of agricultural products and services. The Company categorizes its segments within the Retail and Wholesale business units. The Retail business unit distributes crop nutrients, crop protection products, seed, merchandise and services directly to growers through a network of farm centers in two geographical segments: North America, which includes the United States and Canada, and International, which includes Australia and South America.
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