Wall Street brokerages expect that Agrium Inc. (NYSE:AGU) (TSE:AGU) will report $6.23 billion in sales for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Agrium’s earnings, with the highest sales estimate coming in at $6.28 billion and the lowest estimate coming in at $6.18 billion. Agrium reported sales of $6.42 billion in the same quarter last year, which indicates a negative year-over-year growth rate of 3%. The firm is expected to announce its next quarterly earnings report after the market closes on Wednesday, August 9th.
On average, analysts expect that Agrium will report full-year sales of $6.23 billion for the current year, with estimates ranging from $13.55 billion to $14.06 billion. For the next fiscal year, analysts anticipate that the company will post sales of $14.45 billion per share, with estimates ranging from $13.84 billion to $15.18 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Agrium.
Several equities research analysts have recently commented on AGU shares. Credit Suisse Group reaffirmed a “hold” rating and issued a $91.00 target price on shares of Agrium in a research report on Friday, April 21st. Vertical Research raised shares of Agrium from a “hold” rating to a “buy” rating in a research report on Friday, May 19th. Sanford C. Bernstein started coverage on shares of Agrium in a research report on Monday, March 6th. They issued an “outperform” rating and a $119.00 target price for the company. Scotiabank reaffirmed a “sector perform” rating and issued a $110.00 target price on shares of Agrium in a research report on Tuesday, May 2nd. Finally, TD Securities set a $99.00 target price on shares of Agrium and gave the stock a “hold” rating in a research report on Wednesday, May 3rd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $103.92.
Several hedge funds and other institutional investors have recently modified their holdings of AGU. Dodge & Cox acquired a new position in shares of Agrium during the fourth quarter valued at about $445,660,000. Bank of Montreal Can raised its position in shares of Agrium by 24.5% in the first quarter. Bank of Montreal Can now owns 4,019,852 shares of the basic materials company’s stock valued at $384,097,000 after buying an additional 791,000 shares during the last quarter. Norges Bank acquired a new position in shares of Agrium during the fourth quarter valued at about $76,913,000. FMR LLC raised its position in shares of Agrium by 37.3% in the fourth quarter. FMR LLC now owns 2,706,906 shares of the basic materials company’s stock valued at $272,091,000 after buying an additional 735,555 shares during the last quarter. Finally, Lazard Asset Management LLC acquired a new position in shares of Agrium during the first quarter valued at about $55,636,000. Institutional investors own 69.53% of the company’s stock.
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Shares of Agrium (AGU) opened at 91.99 on Thursday. The firm has a 50-day moving average of $92.02 and a 200 day moving average of $97.60. Agrium has a 1-year low of $87.62 and a 1-year high of $111.88. The company has a market capitalization of $12.71 billion, a P/E ratio of 21.92 and a beta of 0.67.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 20th. Investors of record on Friday, June 30th will be paid a $0.875 dividend. The ex-dividend date is Wednesday, June 28th. This represents a $3.50 annualized dividend and a dividend yield of 3.80%. Agrium’s payout ratio is 83.14%.
Agrium Inc is a retailer of agricultural products and services in the United States, Canada, Australia, Argentina, Brazil, Chile and Uruguay and a multi-national producer and wholesale marketer of nutrients for agricultural and industrial markets. The Company’s segments include Retail and Wholesale. As of December 31, 2016, its Retail business unit marketed crop nutrients, crop protection products, seed, merchandise, application and other agronomic services through 1,500 retail locations in the United States, Canada, Australia, Argentina, Brazil, Chile and Uruguay.
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