$6.18 Billion in Sales Expected for Agrium Inc. (AGU) This Quarter
Analysts expect Agrium Inc. (NYSE:AGU) (TSE:AGU) to post sales of $6.18 billion for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Agrium’s earnings, with estimates ranging from $6.09 billion to $6.28 billion. Agrium posted sales of $6.42 billion in the same quarter last year, which suggests a negative year-over-year growth rate of 3.7%. The firm is expected to announce its next quarterly earnings report after the market closes on Wednesday, August 9th.
On average, analysts expect that Agrium will report full year sales of $6.18 billion for the current financial year, with estimates ranging from $13.51 billion to $13.86 billion. For the next year, analysts anticipate that the company will post sales of $14.29 billion per share, with estimates ranging from $13.80 billion to $14.88 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Agrium.
A number of research analysts have recently commented on AGU shares. Citigroup Inc. dropped their target price on shares of Agrium from $111.00 to $104.00 and set a “neutral” rating for the company in a report on Tuesday, April 11th. Credit Suisse Group reissued a “hold” rating and issued a $91.00 target price on shares of Agrium in a report on Friday, April 21st. Scotiabank reissued a “sector perform” rating and issued a $110.00 target price on shares of Agrium in a report on Tuesday, May 2nd. TD Securities set a $99.00 target price on shares of Agrium and gave the stock a “hold” rating in a report on Wednesday, May 3rd. Finally, Vertical Research raised Agrium from a “hold” rating to a “buy” rating in a research note on Friday, May 19th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $103.00.
Institutional investors have recently modified their holdings of the company. Probity Advisors Inc. boosted its position in shares of Agrium by 0.4% in the second quarter. Probity Advisors Inc. now owns 9,799 shares of the basic materials company’s stock worth $887,000 after buying an additional 41 shares in the last quarter. Cascade Investment Advisors Inc. boosted its position in shares of Agrium by 0.5% in the second quarter. Cascade Investment Advisors Inc. now owns 18,185 shares of the basic materials company’s stock valued at $1,646,000 after buying an additional 85 shares during the period. World Asset Management Inc boosted its position in shares of Agrium by 1.0% in the first quarter. World Asset Management Inc now owns 8,607 shares of the basic materials company’s stock valued at $822,000 after buying an additional 86 shares during the period. Jarislowsky Fraser Ltd boosted its position in shares of Agrium by 3.2% in the first quarter. Jarislowsky Fraser Ltd now owns 3,000 shares of the basic materials company’s stock valued at $285,000 after buying an additional 92 shares during the period. Finally, Comerica Bank boosted its position in shares of Agrium by 1.2% in the first quarter. Comerica Bank now owns 8,519 shares of the basic materials company’s stock valued at $809,000 after buying an additional 103 shares during the period. Institutional investors own 69.26% of the company’s stock.
Shares of Agrium (NYSE AGU) opened at 100.95 on Monday. Agrium has a 52-week low of $87.75 and a 52-week high of $111.88. The firm has a 50-day moving average of $95.34 and a 200 day moving average of $96.17. The firm has a market cap of $13.95 billion, a PE ratio of 24.06 and a beta of 0.62.
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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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