Potash Corp “could sit at the bottom here for another year”, said Bryden Teich, portfolio manager at Avenue Investment Management, which sold its Potash position in late June. Potash Corporation of Saskatchewan Inc. Year to Date, the current share price of the stock is below -12.98%. For the third quarter, the company expects earnings to be in the range of 5 cents to 10 cents per share. Analyst recommendation for this stock stands at 3.00. Finally, Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Potash Corp. of Saskatchewan by 18.4% in the first quarter. (NYSE:POT) traded 29.07 Million shares and was closed at 15.91. 8,194,603 shares of the company traded hands. The contract may prompt further deals for other suppliers, RBC Capital Markets analyst Andrew Wong said in a report July 12.
Advertisement
The company is trading below its 50-day moving averages of 16.69 and down from 200-day moving averages of 16.78. Potash Corp. of Saskatchewan has a 52 week low of $14.64 and a 52 week high of $27.77. The fertilizer maker reported $0.18 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.18. Revenue fell 39% to $1.05 billion.
The company also plans to reduce its quarterly dividend from 25 cents per share to10 cents per share commencing with the declaration of its next dividend in September.
A number of research analysts recently weighed in on POT shares. The company also faces earnings headwinds caused by tax changes. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. The Corporation has average brokerage recommendation (ABR) of 0 based on consensus of the brokerage firms issuing ratings.
Advertisement
Potash Corporation of Saskatchewan Inc is a fertilizer producer producing various primary crop nutrients, such as potash, nitrogen and phosphate. The company’s products primarily comprise standard and granular potash; diammonium phosphate, monoammonium phosphate, and phosphoric acid; and ammonia, urea, nitric acid, ammonium nitrate, and nitrogen solutions, in addition to purified acids and metal finishing products. The Company owns and operates five potash operations in Saskatchewan and one in New Brunswick.
