Agrium’s (AGU) “Outperform” Rating Reaffirmed at RBC Capital Markets
RBC Capital Markets reaffirmed their outperform rating on shares of Agrium Inc. (NYSE:AGU) in a research note published on Wednesday morning. They currently have a $139.00 price objective on the stock, up from their prior price objective of $125.00.
Several other equities research analysts have also issued reports on AGU. TheStreet raised shares of Agrium from a hold rating to a buy rating in a report on Thursday, June 16th. Morgan Stanley restated a hold rating on shares of Agrium in a research note on Thursday, June 16th. Zacks Investment Research upgraded shares of Agrium from a strong sell rating to a hold rating in a research note on Tuesday, June 21st. Citigroup Inc. boosted their target price on shares of Agrium from $87.00 to $91.00 and gave the company a neutral rating in a research note on Thursday, July 7th. Finally, TD Securities restated a hold rating and issued a $94.00 target price (down previously from $96.00) on shares of Agrium in a research note on Tuesday, July 19th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $100.78.
Agrium (NYSE:AGU) traded down 1.24% during midday trading on Wednesday, hitting $87.95. 63,046 shares of the stock traded hands. The company has a market cap of $12.15 billion, a PE ratio of 14.14 and a beta of 1.17. Agrium has a one year low of $79.94 and a one year high of $100.24. The company’s 50-day moving average is $91.69 and its 200-day moving average is $90.42.
Agrium (NYSE:AGU) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $4.18 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $4.08 by $0.10. The firm had revenue of $6.42 billion for the quarter, compared to analyst estimates of $6.67 billion. Agrium had a net margin of 6.18% and a return on equity of 14.22%. The business’s revenue for the quarter was down 8.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.90 EPS. Equities research analysts expect that Agrium will post $5.16 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 20th. Investors of record on Friday, September 30th will be paid a $0.875 dividend. This represents a $3.50 annualized dividend and a yield of 3.93%. The ex-dividend date of this dividend is Wednesday, September 28th. Agrium’s dividend payout ratio (DPR) is presently 55.73%.
Hedge funds have recently added to or reduced their stakes in the stock. Advisor Group Inc. acquired a new stake in Agrium during the second quarter valued at $110,000. BlackRock Institutional Trust Company N.A. acquired a new stake in Agrium during the second quarter valued at $123,000. Exane Derivatives acquired a new stake in Agrium during the second quarter valued at $126,000. Huntington Asset Advisors Inc. acquired a new stake in Agrium during the first quarter valued at $150,000. Finally, Huntington National Bank raised its stake in Agrium by 0.4% in the second quarter. Huntington National Bank now owns 1,773 shares of the company’s stock valued at $160,000 after buying an additional 7 shares during the period. 69.38% of the stock is currently owned by institutional investors and hedge funds.
Agrium Company Profile
Agrium Inc is a producer and distributor of agricultural products and services. The Company categorizes its segments within the Retail and Wholesale business units. The Retail business unit distributes crop nutrients, crop protection products, seed, merchandise and services directly to growers through a network of farm centers in two geographical segments: North America, which includes the United States and Canada, and International, which includes Australia and South America.
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