Potash Corp. of Saskatchewan (NYSE:POT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.

According to Zacks, “Estimates Potash Corp. have been stable of late. Potash Corp. faces headwinds associated with macroeconomic uncertainties stemming from weakness across specific developing markets. It is also exposed to challenges in its nitrogen business and a weak pricing environment. The prevailing softness in agricultural commodity pricing is affecting demand for fertilizers. The company has reduced its earnings guidance for 2016 and also announced a dividend cut.”

A number of other brokerages have also recently issued reports on POT. Citigroup Inc. reissued a “neutral” rating and issued a $17.00 target price on shares of Potash Corp. of Saskatchewan in a research report on Wednesday, August 31st. RBC Capital Markets reissued a “hold” rating on shares of Potash Corp. of Saskatchewan in a research report on Wednesday, August 31st. Goldman Sachs Group Inc. set a $14.00 target price on Potash Corp. of Saskatchewan and gave the company a “neutral” rating in a research report on Wednesday, August 31st. Vetr cut Potash Corp. of Saskatchewan from a “strong-buy” rating to a “buy” rating and set a $19.20 target price for the company. in a research report on Tuesday, August 30th. Finally, Barclays PLC reissued an “underweight” rating and issued a $14.00 target price on shares of Potash Corp. of Saskatchewan in a research report on Saturday, June 25th. Eight equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $17.69.

Analyst Recommendations for Potash Corp. of Saskatchewan (NYSE:POT)

Potash Corp. of Saskatchewan (NYSE:POT) traded up 0.6319% during mid-day trading on Tuesday, hitting $15.9099. The stock had a trading volume of 2,692,466 shares. The stock has a 50-day moving average price of $16.46 and a 200 day moving average price of $16.58. Potash Corp. of Saskatchewan has a 12-month low of $14.64 and a 12-month high of $22.37. The firm has a market cap of $13.36 billion, a P/E ratio of 19.6419 and a beta of 0.71.

Potash Corp. of Saskatchewan (NYSE:POT) last released its quarterly earnings data on Thursday, July 28th. The fertilizer maker reported $0.18 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.18. The business earned $1.05 billion during the quarter, compared to analysts’ expectations of $1.18 billion. Potash Corp. of Saskatchewan had a return on equity of 9.17% and a net margin of 13.20%. The business’s quarterly revenue was down 39.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.50 EPS. Equities analysts anticipate that Potash Corp. of Saskatchewan will post $0.53 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 2nd. Investors of record on Wednesday, October 12th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date of this dividend is Friday, October 7th. Potash Corp. of Saskatchewan’s payout ratio is currently 49.38%.

Hedge funds and other institutional investors have recently modified their holdings of the stock. HBK Investments L P purchased a new position in shares of Potash Corp. of Saskatchewan during the first quarter worth $230,000. Wellington Management Group LLP boosted its position in shares of Potash Corp. of Saskatchewan by 21.5% in the first quarter. Wellington Management Group LLP now owns 3,525,459 shares of the fertilizer maker’s stock worth $60,086,000 after buying an additional 622,671 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Potash Corp. of Saskatchewan by 44.3% in the first quarter. Geode Capital Management LLC now owns 32,979 shares of the fertilizer maker’s stock worth $560,000 after buying an additional 10,122 shares during the last quarter. Glovista Investments LLC purchased a new position in shares of Potash Corp. of Saskatchewan during the first quarter worth $5,371,000. Finally, Lazard Asset Management LLC boosted its position in shares of Potash Corp. of Saskatchewan by 16.7% in the first quarter. Lazard Asset Management LLC now owns 7,000 shares of the fertilizer maker’s stock worth $119,000 after buying an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 58.83% of the company’s stock.

About Potash Corp. of Saskatchewan

Potash Corporation of Saskatchewan Inc is a fertilizer producer producing various primary crop nutrients, such as potash, nitrogen and phosphate. The Company operates through three segments: potash, nitrogen and phosphate. It owns and operates approximately five potash operations in Saskatchewan and one in New Brunswick.

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