Agrium Inc. (AGU) Shares Up 1.8%
Agrium Inc. (NYSE:AGU) shares shot up 1.8% during mid-day trading on Wednesday . The stock traded as high as $92.96 and last traded at $92.91, with a volume of 477,134 shares. The stock had previously closed at $91.26.
AGU has been the topic of several research analyst reports. Citigroup Inc. increased their target price on Agrium from $87.00 to $91.00 and gave the stock a “neutral” rating in a report on Thursday, July 7th. Zacks Investment Research upgraded Agrium from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 5th. Morgan Stanley restated a “hold” rating on shares of Agrium in a report on Thursday, June 16th. TheStreet upgraded Agrium from a “hold” rating to a “buy” rating in a report on Thursday, June 16th. Finally, Scotiabank restated a “sector outperform” rating and set a $100.00 target price on shares of Agrium in a report on Saturday, June 11th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $99.56.
The stock has a market cap of $12.83 billion and a price-to-earnings ratio of 13.34. The stock’s 50 day moving average price is $91.83 and its 200 day moving average price is $87.95.
Agrium (NYSE:AGU) last issued its earnings results on Tuesday, May 3rd. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.11. The firm earned $2.73 billion during the quarter, compared to analyst estimates of $2.73 billion. Agrium’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.12 EPS. On average, equities research analysts expect that Agrium Inc. will post $5.61 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, July 21st. Shareholders of record on Thursday, June 30th will be issued a $0.875 dividend. The ex-dividend date of this dividend is Tuesday, June 28th. This represents a $3.50 dividend on an annualized basis and a yield of 3.77%.
A number of institutional investors have recently modified their holdings of the company. I.G. Investment Management LTD. boosted its position in shares of Agrium by 2.2% in the fourth quarter. I.G. Investment Management LTD. now owns 941,403 shares of the company’s stock worth $84,105,000 after buying an additional 20,289 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of Agrium during the fourth quarter worth about $2,442,000. Fort Washington Investment Advisors Inc. OH boosted its position in shares of Agrium by 2.4% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 728,030 shares of the company’s stock worth $65,042,000 after buying an additional 16,779 shares during the last quarter. Weatherly Asset Management L. P. boosted its position in shares of Agrium by 4.5% in the fourth quarter. Weatherly Asset Management L. P. now owns 17,022 shares of the company’s stock worth $1,520,000 after buying an additional 727 shares during the last quarter. Finally, Morgan Stanley boosted its position in shares of Agrium by 46.2% in the fourth quarter. Morgan Stanley now owns 329,730 shares of the company’s stock worth $29,458,000 after buying an additional 104,139 shares during the last quarter.
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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