$2.46 Billion in Sales Expected for Monsanto Company (NYSE:MON) This Quarter
Equities analysts forecast that Monsanto Company (NYSE:MON) will post $2.46 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Monsanto’s earnings, with estimates ranging from $2.38 billion to $2.54 billion. Monsanto reported sales of $2.56 billion in the same quarter last year, which indicates a negative year-over-year growth rate of 3.9%. The firm is expected to issue its next quarterly earnings report before the market opens on Wednesday, October 4th.
According to Zacks, analysts expect that Monsanto will report full year sales of $2.46 billion for the current year, with estimates ranging from $13.64 billion to $14.59 billion. For the next fiscal year, analysts expect that the company will post sales of $14.70 billion per share, with estimates ranging from $14.34 billion to $15.11 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Monsanto.
Monsanto (NYSE:MON) last announced its earnings results on Wednesday, June 28th. The basic materials company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.74 by $0.19. The firm had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.18 billion. Monsanto had a return on equity of 45.26% and a net margin of 14.11%. The business’s revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.17 EPS.
MON has been the topic of a number of recent analyst reports. Citigroup Inc. reaffirmed a “neutral” rating and set a $125.00 price objective (up previously from $122.00) on shares of Monsanto in a report on Friday, April 14th. Zacks Investment Research raised Monsanto from a “hold” rating to a “buy” rating and set a $132.00 price objective on the stock in a report on Friday, June 16th. Vetr raised Monsanto from a “hold” rating to a “buy” rating and set a $122.35 price objective on the stock in a report on Thursday, July 6th. Susquehanna Bancshares Inc reiterated a “neutral” rating and set a $128.00 target price (up from $125.00) on shares of Monsanto in a research report on Tuesday, June 27th. Finally, BidaskClub downgraded Monsanto from a “hold” rating to a “sell” rating in a research report on Sunday, July 16th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the company. Monsanto presently has a consensus rating of “Hold” and a consensus price target of $123.15.
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Monsanto (NYSE MON) opened at 117.84 on Monday. The stock has a market cap of $51.77 billion, a price-to-earnings ratio of 25.45 and a beta of 1.07. Monsanto has a one year low of $97.35 and a one year high of $118.97. The firm has a 50-day moving average price of $117.53 and a 200-day moving average price of $114.70.
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 28th. Stockholders of record on Friday, July 7th were given a $0.54 dividend. The ex-dividend date of this dividend was Wednesday, July 5th. This represents a $2.16 annualized dividend and a dividend yield of 1.83%. Monsanto’s dividend payout ratio is currently 46.75%.
In related news, EVP Robert T. Fraley sold 52,410 shares of the company’s stock in a transaction on Monday, July 10th. The stock was sold at an average price of $117.95, for a total value of $6,181,759.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Steven Mizell sold 11,300 shares of the company’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $118.57, for a total value of $1,339,841.00. Following the completion of the transaction, the executive vice president now owns 55,011 shares of the company’s stock, valued at $6,522,654.27. The disclosure for this sale can be found here. Insiders sold 74,470 shares of company stock valued at $8,791,281 over the last quarter. Insiders own 0.79% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. First PREMIER Bank raised its position in Monsanto by 4.2% in the first quarter. First PREMIER Bank now owns 901 shares of the basic materials company’s stock valued at $102,000 after buying an additional 36 shares during the last quarter. Whitnell & Co. raised its position in Monsanto by 35.4% in the first quarter. Whitnell & Co. now owns 979 shares of the basic materials company’s stock valued at $111,000 after buying an additional 256 shares during the last quarter. Hartford Financial Management Inc. acquired a new position in Monsanto during the first quarter valued at approximately $113,000. Acrospire Investment Management LLC acquired a new position in Monsanto during the first quarter valued at approximately $113,000. Finally, Pinnacle Financial Partners Inc. acquired a new position in Monsanto during the second quarter valued at approximately $114,000. Hedge funds and other institutional investors own 74.88% of the company’s stock.
Monsanto Company Profile
Monsanto Company (Monsanto), along with its subsidiaries, is a provider of agricultural products for farmers. The Company provides seeds, biotechnology trait products, herbicides and digital agriculture tools to farmers. The Company operates through two segments: Seeds and Genomics, and Agricultural Productivity.
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