Monsanto Co. (MON) Posts Quarterly Earnings Results, Beats Estimates By $0.09 EPS
Monsanto Co. (NYSE:MON) released its quarterly earnings results on Wednesday. The company reported $0.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.09. The company earned $2.56 billion during the quarter, compared to analysts’ expectations of $2.38 billion. Monsanto had a net margin of 7.76% and a return on equity of 37.98%. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.19) earnings per share.
Monsanto (NYSE:MON) opened at 101.61 on Wednesday. The firm’s 50-day moving average is $104.97 and its 200 day moving average is $101.31. Monsanto has a 12-month low of $83.73 and a 12-month high of $114.26. The company has a market cap of $44.46 billion, a price-to-earnings ratio of 44.72 and a beta of 1.19.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 28th. Shareholders of record on Friday, October 7th will be issued a dividend of $0.54 per share. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $2.16 annualized dividend and a yield of 2.11%. Monsanto’s payout ratio is 89.26%.
Several research firms have recently weighed in on MON. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $127.00 price target (up previously from $95.00) on shares of Monsanto in a report on Monday, June 13th. Argus restated a “buy” rating and set a $128.00 target price (up previously from $111.00) on shares of Monsanto in a report on Wednesday, June 15th. Vetr upgraded shares of Monsanto from a “buy” rating to a “strong-buy” rating and set a $122.43 target price for the company in a report on Tuesday, August 9th. Goldman Sachs Group Inc. set a $92.00 target price on shares of Monsanto and gave the stock a “sell” rating in a report on Monday, June 27th. Finally, JPMorgan Chase & Co. upgraded shares of Monsanto from a “neutral” rating to an “overweight” rating and set a $128.00 target price for the company in a report on Wednesday, September 21st. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $114.21.
In other Monsanto news, COO Brett D. Begemann sold 27,980 shares of the company’s stock in a transaction that occurred on Thursday, July 14th. The stock was sold at an average price of $103.62, for a total value of $2,899,287.60. Following the completion of the sale, the chief operating officer now owns 102,480 shares of the company’s stock, valued at $10,618,977.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Michael K. Stern sold 12,797 shares of the company’s stock in a transaction that occurred on Wednesday, July 13th. The stock was sold at an average price of $101.77, for a total value of $1,302,350.69. Following the completion of the sale, the chief executive officer now directly owns 21,583 shares of the company’s stock, valued at approximately $2,196,501.91. The disclosure for this sale can be found here. 0.88% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the company. Opera Trading Capital bought a new stake in Monsanto during the second quarter worth $672,000. O Shaughnessy Asset Management LLC raised its stake in Monsanto by 5.1% in the second quarter. O Shaughnessy Asset Management LLC now owns 125,695 shares of the company’s stock worth $11,660,000 after buying an additional 6,125 shares during the period. Alliancebernstein L.P. raised its stake in Monsanto by 3.1% in the second quarter. Alliancebernstein L.P. now owns 918,526 shares of the company’s stock worth $94,985,000 after buying an additional 27,352 shares during the period. Choate Investment Advisors bought a new stake in Monsanto during the second quarter worth $226,000. Finally, Advisor Partners LLC raised its stake in Monsanto by 0.4% in the second quarter. Advisor Partners LLC now owns 6,238 shares of the company’s stock worth $645,000 after buying an additional 23 shares during the period. 79.02% of the stock is owned by institutional investors and hedge funds.
Monsanto Company (Monsanto), along with its subsidiaries, is a provider of agricultural products for farmers. The Company provides seeds, biotechnology trait products, herbicides and precision agriculture tools to farmers. The Company operates through two segments: Seeds and Genomics, and Agricultural Productivity.
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