RBC Capital Markets restated their outperform rating on shares of Agrium Inc. (NYSE:AGU) in a report published on Wednesday morning. They currently have a $139.00 price target on the stock, up from their prior price target of $125.00.
A number of other analysts have also recently weighed in on AGU. TheStreet upgraded Agrium from a hold rating to a buy rating in a research report on Thursday, June 16th. Morgan Stanley reissued a hold rating on shares of Agrium in a report on Thursday, June 16th. Zacks Investment Research raised Agrium from a strong sell rating to a hold rating in a report on Tuesday, June 21st. Citigroup Inc. increased their price objective on Agrium from $87.00 to $91.00 and gave the stock a neutral rating in a report on Thursday, July 7th. Finally, TD Securities reissued a hold rating and issued a $94.00 price objective (down from $96.00) on shares of Agrium in a report on Tuesday, July 19th. Two research 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. The stock currently has an average rating of Hold and an average target price of $100.78.
Agrium (NYSE:AGU) opened at 88.01 on Wednesday. The stock has a 50 day moving average price of $91.55 and a 200-day moving average price of $90.41. Agrium has a 12-month low of $79.94 and a 12-month high of $100.24. The firm has a market capitalization of $12.16 billion, a PE ratio of 14.14 and a beta of 1.17.
Agrium (NYSE:AGU) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $4.18 earnings per share for the quarter, topping analysts’ consensus estimates of $4.08 by $0.10. The business had revenue of $6.42 billion for the quarter, compared to analysts’ expectations of $6.67 billion. Agrium had a return on equity of 14.22% and a net margin of 6.18%. The business’s quarterly revenue was down 8.3% on a year-over-year basis. During the same period in the prior year, the firm earned $4.90 EPS. On average, equities research analysts forecast that Agrium will post $5.16 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 20th. Investors of record on Friday, September 30th will be issued a dividend of $0.875 per share. The ex-dividend date is Wednesday, September 28th. This represents a $3.50 annualized dividend and a dividend yield of 3.98%. Agrium’s dividend payout ratio is 55.73%.
Several hedge funds have recently made changes to their positions in AGU. Advisor Group Inc. purchased a new stake in shares of Agrium during the second quarter valued at about $110,000. BlackRock Institutional Trust Company N.A. purchased a new stake in shares of Agrium during the second quarter valued at about $123,000. Exane Derivatives purchased a new stake in shares of Agrium during the second quarter valued at about $126,000. Huntington Asset Advisors Inc. purchased a new stake in shares of Agrium during the first quarter valued at about $150,000. Finally, Huntington National Bank raised its stake in shares of 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 in the last quarter. Institutional investors and hedge funds own 69.07% 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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