Scotiabank Brokers Cut Earnings Estimates for CF Industries

CF Industries Holdings, Inc. (NYSE:CF) – Scotiabank lowered their FY2026 earnings per share estimates for CF Industries in a research note issued on Monday, February 23rd. Scotiabank analyst B. Isaacson now expects that the basic materials company will earn $7.64 per share for the year, down from their previous estimate of $8.76. Scotiabank has a “Sector Perform” rating and a $85.00 price target on the stock. The consensus estimate for CF Industries’ current full-year earnings is $5.83 per share. Scotiabank also issued estimates for CF Industries’ FY2027 earnings at $6.45 EPS.

CF Industries (NYSE:CF) last posted its earnings results on Wednesday, February 18th. The basic materials company reported $2.59 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.06. The company had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.78 billion. CF Industries had a return on equity of 19.84% and a net margin of 20.54%.The company’s revenue for the quarter was up 22.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.89 earnings per share.

A number of other equities research analysts have also recently weighed in on CF. Weiss Ratings reiterated a “hold (c)” rating on shares of CF Industries in a research report on Monday, December 29th. Mizuho set a $95.00 price objective on shares of CF Industries in a research report on Thursday, February 19th. HSBC cut their target price on CF Industries from $95.00 to $91.00 and set a “hold” rating on the stock in a research report on Monday, November 24th. Wells Fargo & Company raised their price target on CF Industries from $100.00 to $113.00 and gave the stock an “overweight” rating in a research report on Friday, February 20th. Finally, Wolfe Research raised CF Industries from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 7th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $95.53.

CF Industries Stock Up 0.7%

Shares of NYSE:CF opened at $96.07 on Wednesday. The company has a market capitalization of $14.98 billion, a price-to-earnings ratio of 10.67 and a beta of 0.70. CF Industries has a 12-month low of $67.34 and a 12-month high of $105.27. The business has a 50-day moving average price of $87.21 and a 200 day moving average price of $85.27. The company has a current ratio of 3.37, a quick ratio of 2.93 and a debt-to-equity ratio of 0.41.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. State Street Corp grew its stake in CF Industries by 2.1% during the 2nd quarter. State Street Corp now owns 7,982,072 shares of the basic materials company’s stock worth $734,351,000 after buying an additional 165,833 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of CF Industries by 10.6% in the third quarter. Victory Capital Management Inc. now owns 5,013,846 shares of the basic materials company’s stock valued at $449,742,000 after acquiring an additional 480,126 shares in the last quarter. Dimensional Fund Advisors LP increased its position in CF Industries by 37.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,312,225 shares of the basic materials company’s stock worth $333,501,000 after purchasing an additional 1,178,516 shares during the period. Boston Partners raised its position in CF Industries by 15.3% in the third quarter. Boston Partners now owns 3,587,999 shares of the basic materials company’s stock worth $321,852,000 after acquiring an additional 476,769 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of CF Industries by 12.0% in the 4th quarter. Invesco Ltd. now owns 3,570,249 shares of the basic materials company’s stock valued at $276,123,000 after purchasing an additional 381,716 shares in the last quarter. Institutional investors and hedge funds own 93.06% of the company’s stock.

CF Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 13th will be paid a dividend of $0.50 per share. The ex-dividend date is Friday, February 13th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.1%. CF Industries’s payout ratio is presently 22.22%.

CF Industries News Roundup

Here are the key news stories impacting CF Industries this week:

• Positive Sentiment: RBC raised its price target to $100 (sector perform), a clear upward signal from a major bank that likely helped demand for CF shares. RBC raises PT to $100
• Positive Sentiment: Several outlets report other price‑target increases (notably to $115 and $113), signalling some analysts see more upside versus prior views. These raise the floor on bullish scenarios for CF. Price Target Raised to $115
• Positive Sentiment: Another reported price target hike to $113 reinforces that at least some analysts are materially more constructive on CF’s outlook. Price Target Raised to $113
• Neutral Sentiment: BNP Paribas Exane nudged its target to $95 and kept a neutral rating — a modest tweak that is largely signal‑neutral relative to current levels. BNP Paribas raises PT to $95
• Neutral Sentiment: Coverage pieces (Yahoo Finance) highlight a shifting investment narrative: mixed analyst signals mean headlines — not fundamentals — may be driving short‑term moves. How The CF Industries Investment Narrative Is Shifting
• Neutral Sentiment: Seeking Alpha notes CF’s low‑cost position gives a durable competitive edge, but commodity and policy swings (China, India) make earnings uneven; useful context but not an immediate directional trigger. Fertilizer Politics Cuts Both Ways
• Negative Sentiment: Scotiabank raised its Q1 EPS estimate to $2.28 but set a lower $85 price target (sector perform), which implies downside versus current levels and may cap upside until visibility improves. Scotiabank raises estimates, sets PT at $85
• Negative Sentiment: Another Seeking Alpha piece flags a “valuation disconnect,” arguing CF’s current valuation may not fully account for commodity and macro risks — a line of analysis that can weigh on investor sentiment and multiple compression. Valuation Disconnect Is Still Too Big To Ignore

About CF Industries

CF Industries Holdings, Inc is a leading global manufacturer of hydrogen and nitrogen products for agricultural and industrial customers. The company specializes in the production of ammonia, granular urea, urea ammonium nitrate (UAN), nitric acid and ammonium nitrate, which serve as key inputs for fertilizer blends, industrial chemicals and other downstream applications.

Headquartered in Deerfield, Illinois, CF Industries operates production facilities and distribution terminals across North America and the United Kingdom.