Potash Corporation of Saskatchewan Inc. (NYSE:POT) (TSE:POT)‘s stock had its “buy” rating restated by research analysts at Royal Bank Of Canada in a research report issued to clients and investors on Friday. They currently have a $19.00 price target on the fertilizer maker’s stock. Royal Bank Of Canada’s price objective points to a potential upside of 6.62% from the stock’s previous close.
Several other brokerages have also commented on POT. Scotiabank restated a “sector perform” rating and issued a $20.00 price objective on shares of Potash Corporation of Saskatchewan in a report on Friday, April 28th. Zacks Investment Research lowered shares of Potash Corporation of Saskatchewan from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. Stifel Nicolaus restated a “buy” rating and issued a $19.00 price objective (down from $20.00) on shares of Potash Corporation of Saskatchewan in a report on Monday, July 10th. Vertical Research upgraded shares of Potash Corporation of Saskatchewan from a “hold” rating to a “buy” rating in a report on Friday, May 19th. Finally, Cowen and Company set a $16.00 price objective on shares of Potash Corporation of Saskatchewan and gave the stock a “hold” rating in a report on Thursday. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Potash Corporation of Saskatchewan currently has a consensus rating of “Hold” and a consensus price target of $18.01.
Shares of Potash Corporation of Saskatchewan (POT) opened at 17.82 on Friday. Potash Corporation of Saskatchewan has a 12-month low of $15.24 and a 12-month high of $20.27. The firm has a 50-day moving average of $17.04 and a 200-day moving average of $17.30. The firm has a market capitalization of $14.97 billion, a PE ratio of 37.91 and a beta of 0.44.
Potash Corporation of Saskatchewan (NYSE:POT) (TSE:POT) last issued its quarterly earnings data on Thursday, July 27th. The fertilizer maker reported $0.16 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by $0.01. Potash Corporation of Saskatchewan had a return on equity of 5.24% and a net margin of 11.07%. The company had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $982.05 million. During the same quarter last year, the company posted $0.18 earnings per share. The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. Equities analysts anticipate that Potash Corporation of Saskatchewan will post $0.61 earnings per share for the current year.
A number of hedge funds have recently made changes to their positions in the stock. First Eagle Investment Management LLC increased its stake in shares of Potash Corporation of Saskatchewan by 21.9% in the first quarter. First Eagle Investment Management LLC now owns 40,768,071 shares of the fertilizer maker’s stock valued at $696,319,000 after buying an additional 7,315,190 shares during the period. Bank of Montreal Can increased its stake in shares of Potash Corporation of Saskatchewan by 17.3% in the first quarter. Bank of Montreal Can now owns 18,836,468 shares of the fertilizer maker’s stock valued at $321,727,000 after buying an additional 2,774,033 shares during the period. MARSHALL WACE ASIA Ltd purchased a new stake in shares of Potash Corporation of Saskatchewan during the first quarter valued at approximately $33,499,000. Macquarie Group Ltd. increased its stake in shares of Potash Corporation of Saskatchewan by 282.8% in the first quarter. Macquarie Group Ltd. now owns 2,557,145 shares of the fertilizer maker’s stock valued at $43,676,000 after buying an additional 1,889,145 shares during the period. Finally, Horseman Capital Management Ltd purchased a new stake in shares of Potash Corporation of Saskatchewan during the first quarter valued at approximately $29,463,000. 59.18% of the stock is currently owned by institutional investors.
About Potash Corporation of Saskatchewan
Potash Corporation of Saskatchewan Inc (PCS) is a fertilizer producer producing a range of primary crop nutrients, such as potash, nitrogen and phosphate. The Company operates through three segments: potash, nitrogen and phosphate. As of December 31, 2016, it owned and operated five potash operations in Saskatchewan and owned one in New Brunswick.
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