FY2017 EPS Estimates for Monsanto Co. Reduced by Analyst (MON)
Monsanto Co. (NYSE:MON) – Credit Agricole SA lowered their FY2017 earnings per share estimates for Monsanto in a research note issued on Wednesday. Credit Agricole SA analyst M. Connelly now expects that the brokerage will earn $4.80 per share for the year, down from their previous estimate of $4.94. Credit Agricole SA has a “Underperform” rating and a $110.00 price target on the stock. Credit Agricole SA also issued estimates for Monsanto’s FY2018 earnings at $5.72 EPS and FY2019 earnings at $6.81 EPS.
Other equities analysts have also recently issued reports about the company. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $127.00 target price (up from $95.00) on shares of Monsanto in a report on Monday, June 13th. Zacks Investment Research cut Monsanto from a “hold” rating to a “strong sell” rating in a report on Friday. Argus restated a “buy” rating and set a $128.00 price objective (up from $111.00) on shares of Monsanto in a research note on Wednesday, June 15th. Vetr upgraded Monsanto from a “buy” rating to a “strong-buy” rating and set a $122.43 price objective on the stock in a research note on Tuesday, August 9th. Finally, Goldman Sachs Group Inc. set a $92.00 price objective on Monsanto and gave the company a “sell” rating in a research note on Monday, June 27th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $114.67.
Monsanto (NYSE:MON) traded down 0.14% during trading on Friday, hitting $103.36. 2,391,704 shares of the company’s stock traded hands. Monsanto has a 52-week low of $83.73 and a 52-week high of $114.26. The company has a market cap of $45.23 billion, a PE ratio of 45.49 and a beta of 1.19. The company’s 50 day moving average price is $104.86 and its 200 day moving average price is $101.43.
Monsanto (NYSE:MON) last released its quarterly earnings data on Wednesday, October 5th. The company reported $0.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.09. Monsanto had a net margin of 9.89% and a return on equity of 46.07%. The firm had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.38 billion. During the same period in the previous year, the company earned ($0.19) earnings per share. The company’s quarterly revenue was up 8.8% on a year-over-year basis.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Virginia Retirement System acquired a new position in shares of Monsanto during the first quarter worth about $626,000. Howard Hughes Medical Institute acquired a new position in shares of Monsanto during the first quarter worth about $110,000. JPMorgan Chase & Co. increased its position in shares of Monsanto by 2.3% in the first quarter. JPMorgan Chase & Co. now owns 828,673 shares of the company’s stock worth $72,708,000 after buying an additional 18,961 shares during the last quarter. NN Investment Partners Holdings N.V. acquired a new position in shares of Monsanto during the first quarter worth about $13,877,000. Finally, Advisor Partners LLC increased its position in shares of Monsanto by 34.6% in the first quarter. Advisor Partners LLC now owns 6,215 shares of the company’s stock worth $545,000 after buying an additional 1,598 shares during the last quarter. 79.02% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CEO Michael K. Stern sold 12,797 shares of the company’s stock in a transaction on Wednesday, July 13th. The stock was sold at an average price of $101.77, for a total transaction of $1,302,350.69. Following the transaction, the chief executive officer now directly owns 21,583 shares of the company’s stock, valued at $2,196,501.91. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Brett D. Begemann sold 27,980 shares of the company’s stock in a transaction on Thursday, July 14th. The shares were sold at an average price of $103.62, for a total value of $2,899,287.60. Following the transaction, the chief operating officer now directly owns 102,480 shares in the company, valued at $10,618,977.60. The disclosure for this sale can be found here. 0.88% of the stock is owned by insiders.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Stockholders of record on Friday, October 7th will be paid a $0.54 dividend. The ex-dividend date is Wednesday, October 5th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.09%. Monsanto’s dividend payout ratio is currently 71.05%.
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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