Agrium Inc. (AGU) Sees Strong Trading Volume
Agrium Inc. (NYSE:AGU) saw unusually-high trading volume on Thursday . Approximately 616,809 shares were traded during trading, a decline of 11% from the previous session’s volume of 692,965 shares.The stock last traded at $96.11 and had previously closed at $92.87.
AGU has been the topic of a number of recent research reports. Credit Suisse Group AG upped their price target on shares of Agrium from $90.00 to $93.00 in a research note on Wednesday, March 30th. TheStreet raised shares of Agrium from a “hold” rating to a “buy” rating in a research note on Wednesday, March 30th. HSBC reduced their target price on shares of Agrium from $97.00 to $87.00 in a research note on Tuesday, April 12th. Scotiabank downgraded shares of Agrium from a “focus list” rating to a “buy” rating in a research note on Thursday, April 14th. Finally, Cowen and Company downgraded shares of Agrium to a “hold” rating in a research note on Sunday, April 17th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Agrium presently has a consensus rating of “Hold” and an average price target of $99.56.
The firm’s 50 day moving average price is $92.10 and its 200-day moving average price is $88.04. The stock has a market cap of $13.20 billion and a price-to-earnings ratio of 13.72.
Agrium (NYSE:AGU) last issued its quarterly earnings data on Tuesday, May 3rd. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.11. The company earned $2.73 billion during the quarter, compared to analysts’ expectations of $2.73 billion. The firm’s quarterly revenue was down 5.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.12 earnings per share. On average, equities analysts predict that Agrium Inc. will post $5.60 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 21st. Shareholders of record on Thursday, June 30th will be paid a dividend of $0.875 per share. The ex-dividend date is Tuesday, June 28th. This represents a $3.50 dividend on an annualized basis and a yield of 3.66%.
A number of hedge funds have modified their holdings of the company. I.G. Investment Management LTD. raised its stake 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 period. Fort Washington Investment Advisors Inc. OH raised its stake 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 period. Morgan Stanley raised its stake 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 period. Todd Asset Management LLC raised its stake in shares of Agrium by 0.6% in the fourth quarter. Todd Asset Management LLC now owns 128,510 shares of the company’s stock worth $11,481,000 after buying an additional 725 shares during the period. Finally, Gulf International Bank UK Ltd raised its stake in shares of Agrium by 0.8% in the fourth quarter. Gulf International Bank UK Ltd now owns 42,403 shares of the company’s stock worth $3,792,000 after buying an additional 320 shares during the period.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.