Agrium Inc. (NYSE:AGU) was downgraded by equities researchers at Bank of America Corp. from a “buy” rating to an “underperform” rating in a research report issued to clients and investors on Tuesday. They presently have a $91.00 price objective on the stock. Bank of America Corp.’s target price suggests a potential upside of 2.65% from the stock’s previous close.
Other research analysts have also recently issued research reports about the stock. Credit Agricole SA raised shares of Agrium from an “underperform” rating to an “outperform” rating and set a $100.00 price target for the company in a report on Tuesday. BMO Capital Markets cut shares of Agrium from an “outperform” rating to a “market perform” rating in a report on Tuesday. TheStreet raised shares of Agrium from a “hold” rating to a “buy” rating in a report 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, July 5th. Finally, Citigroup Inc. increased their price objective on shares of Agrium from $91.00 to $93.00 and gave the stock a “neutral” rating in a research note on Monday, August 8th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Agrium presently has a consensus rating of “Hold” and a consensus target price of $99.58.
Agrium (NYSE:AGU) traded down 4.31% during midday trading on Tuesday, reaching $88.65. 2,435,851 shares of the company’s stock were exchanged. Agrium has a 12-month low of $79.94 and a 12-month high of $105.60. The stock has a market capitalization of $12.25 billion, a price-to-earnings ratio of 14.25 and a beta of 1.33. The stock’s 50-day moving average is $92.34 and its 200-day moving average is $90.26.
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Agrium (NYSE:AGU) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $4.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $4.08 by $0.10. The business earned $6.42 billion during the quarter, compared to analysts’ expectations of $6.67 billion. Agrium had a net margin of 6.18% and a return on equity of 14.22%. The business’s quarterly revenue was down 8.3% on a year-over-year basis. During the same quarter last year, the company posted $4.90 earnings per share. On average, equities analysts forecast that Agrium will post $5.16 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 20th. Shareholders of record on Friday, September 30th will be issued a $0.875 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $3.50 annualized dividend and a yield of 3.95%. Agrium’s payout ratio is 55.73%.
Institutional investors have recently bought and sold shares of the stock. Advisor Group Inc. purchased a new position in Agrium during the second quarter valued at $110,000. BlackRock Institutional Trust Company N.A. purchased a new position in Agrium during the second quarter valued at $123,000. Exane Derivatives purchased a new position in Agrium during the second quarter valued at $126,000. Huntington Asset Advisors Inc. purchased a new position in Agrium during the first quarter valued at $150,000. Finally, Huntington National Bank raised its position 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 last quarter. Institutional investors own 69.55% of the company’s stock.
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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