Potash Corporation of Saskatchewan Inc. (POT) Shares Gap Down After Earnings Miss

Shares of Potash Corporation of Saskatchewan Inc. (NYSE:POT) (TSE:POT) gapped down before the market opened on Thursday following a dissappointing earnings announcement. The stock had previously closed at $20.37, but opened at $19.67. Potash Corporation of Saskatchewan shares last traded at $19.34, with a volume of 7,219,521 shares trading hands.

The fertilizer maker reported $0.06 EPS for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.06). Potash Corporation of Saskatchewan had a net margin of 11.07% and a return on equity of 5.19%. The company had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the previous year, the firm posted $0.10 earnings per share. The business’s revenue for the quarter was up 8.6% on a year-over-year basis.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Friday, September 29th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend is Thursday, September 28th. Potash Corporation of Saskatchewan’s payout ratio is presently 67.80%.

Several analysts have commented on the stock. Zacks Investment Research downgraded shares of Potash Corporation of Saskatchewan from a “hold” rating to a “sell” rating in a research report on Tuesday, July 18th. BMO Capital Markets reissued a “hold” rating on shares of Potash Corporation of Saskatchewan in a research report on Sunday, August 13th. Royal Bank Of Canada reissued a “buy” rating and issued a $19.00 target price on shares of Potash Corporation of Saskatchewan in a research report on Friday, July 28th. Stifel Nicolaus reissued a “buy” rating and issued a $19.00 target price (down from $20.00) on shares of Potash Corporation of Saskatchewan in a research report on Monday, July 10th. Finally, Scotiabank raised shares of Potash Corporation of Saskatchewan from a “sector perform” rating to an “outperform” rating and set a $20.00 target price for the company in a research report on Monday, July 10th. Two analysts have rated the stock with a sell rating, six have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Potash Corporation of Saskatchewan presently has an average rating of “Hold” and an average price target of $19.16.

Institutional investors have recently modified their holdings of the company. San Francisco Sentry Investment Group CA acquired a new stake in shares of Potash Corporation of Saskatchewan in the second quarter worth $104,000. Financial Architects Inc lifted its stake in shares of Potash Corporation of Saskatchewan by 11.7% in the second quarter. Financial Architects Inc now owns 6,700 shares of the fertilizer maker’s stock worth $109,000 after buying an additional 700 shares during the last quarter. Cornerstone Advisors Inc. lifted its stake in shares of Potash Corporation of Saskatchewan by 1.8% in the second quarter. Cornerstone Advisors Inc. now owns 6,749 shares of the fertilizer maker’s stock worth $110,000 after buying an additional 122 shares during the last quarter. Lowe Wealth Advisors LLC lifted its stake in shares of Potash Corporation of Saskatchewan by 12.7% in the second quarter. Lowe Wealth Advisors LLC now owns 7,520 shares of the fertilizer maker’s stock worth $123,000 after buying an additional 845 shares during the last quarter. Finally, Patriot Financial Group Insurance Agency LLC lifted its stake in shares of Potash Corporation of Saskatchewan by 5,642.7% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 7,523 shares of the fertilizer maker’s stock worth $143,000 after buying an additional 7,392 shares during the last quarter. Institutional investors and hedge funds own 56.95% of the company’s stock.

The stock has a market capitalization of $16.25 billion, a price-to-earnings ratio of 34.05 and a beta of 0.48. The firm has a 50 day moving average price of $18.99 and a 200 day moving average price of $17.46.

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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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