Zacks: Analysts Expect Agrium Inc. (AGU) Will Announce Quarterly Sales of $6.23 Billion
Equities research analysts expect Agrium Inc. (NYSE:AGU) (TSE:AGU) to report $6.23 billion in sales for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Agrium’s earnings. The lowest sales estimate is $6.18 billion and the highest is $6.28 billion. Agrium reported sales of $6.42 billion in the same quarter last year, which would suggest a negative year-over-year growth rate of 3%. The firm is expected to issue its next earnings results after the market closes on Wednesday, August 9th.
According to Zacks, analysts expect that Agrium will report full-year sales of $6.23 billion for the current fiscal year, with estimates ranging from $13.55 billion to $14.06 billion. For the next fiscal year, analysts anticipate that the company will post sales of $14.45 billion per share, with estimates ranging from $13.84 billion to $15.18 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Agrium.
A number of research analysts have recently issued reports on AGU shares. BMO Capital Markets reaffirmed a “hold” rating and set a $100.00 price target on shares of Agrium in a report on Wednesday, April 5th. Citigroup Inc lowered their price target on Agrium from $104.00 to $100.00 and set a “neutral” rating on the stock in a report on Tuesday, May 9th. Credit Suisse Group AG reaffirmed a “hold” rating and set a $91.00 price target on shares of Agrium in a report on Friday, April 21st. Sanford C. Bernstein started coverage on Agrium in a report on Monday, March 6th. They set an “outperform” rating and a $119.00 price target on the stock. Finally, Scotiabank reaffirmed a “sector perform” rating and set a $110.00 price target on shares of Agrium in a report on Tuesday, May 2nd. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the stock. Agrium has an average rating of “Hold” and a consensus price target of $103.85.
Agrium (NYSE:AGU) opened at 92.85 on Friday. Agrium has a one year low of $87.62 and a one year high of $111.88. The company has a market capitalization of $12.83 billion, a PE ratio of 22.13 and a beta of 0.83. The company has a 50 day moving average price of $92.12 and a 200-day moving average price of $98.23.
The company also recently announced a quarterly dividend, which will be paid on Thursday, July 20th. Shareholders of record on Friday, June 30th will be issued a $0.875 dividend. This represents a $3.50 dividend on an annualized basis and a yield of 3.77%. The ex-dividend date of this dividend is Wednesday, June 28th. Agrium’s dividend payout ratio is 81.21%.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Commerzbank Aktiengesellschaft FI increased its position in Agrium by 0.5% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 6,532 shares of the basic materials company’s stock worth $657,000 after buying an additional 31 shares in the last quarter. World Asset Management Inc increased its position in Agrium by 1.0% in the first quarter. World Asset Management Inc now owns 8,607 shares of the basic materials company’s stock worth $822,000 after buying an additional 86 shares in the last quarter. Jarislowsky Fraser Ltd increased its position in Agrium by 3.2% in the first quarter. Jarislowsky Fraser Ltd now owns 3,000 shares of the basic materials company’s stock worth $285,000 after buying an additional 92 shares in the last quarter. Comerica Bank increased its position in Agrium by 1.2% in the first quarter. Comerica Bank now owns 8,519 shares of the basic materials company’s stock worth $809,000 after buying an additional 103 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its position in Agrium by 4.8% in the first quarter. Envestnet Asset Management Inc. now owns 2,247 shares of the basic materials company’s stock worth $212,000 after buying an additional 103 shares in the last quarter. 70.13% of the stock is currently owned by institutional investors.
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Agrium Company Profile
Agrium Inc is a retailer of agricultural products and services in the United States, Canada, Australia, Argentina, Brazil, Chile and Uruguay and a multi-national producer and wholesale marketer of nutrients for agricultural and industrial markets. The Company’s segments include Retail and Wholesale. As of December 31, 2016, its Retail business unit marketed crop nutrients, crop protection products, seed, merchandise, application and other agronomic services through 1,500 retail locations in the United States, Canada, Australia, Argentina, Brazil, Chile and Uruguay.
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