Monsanto (NYSE:MON)‘s stock had its “neutral” rating restated by Zacks in a note issued to investors on Tuesday, American Banking and Market News reports. They currently have a $110.00 target price on the stock. Zacks‘ price target indicates a potential upside of 5.09% from the company’s current price.
Zacks‘ analyst wrote, “Monsanto reported weak results for the fourth quarter of fiscal 2013, missing the Zacks Consensus Estimate for earnings as well as revenues. The company reported loss per share of 47 cents from operations, wider than the year-ago loss of 44 cents. However, revenues increased 5.0% year over year and came in at $2.2 billion. Going forward, Monsanto anticipates earnings contribution from the recently announced agreement for the acquisition of Climate Corporation. Also, Monsanto intends to continue rewarding its shareholders through share buybacks. However, Monsanto’s presence in various geographies and market segments exposes it to the risks of currency rate fluctuation as well as competition. The amount of expenditure involved in the research and development area of a company like Monsanto also increases our concern. Thus, we maintain our Neutral recommendation on the stock.”
Shares of Monsanto (NYSE:MON) traded down 0.62% on Tuesday, hitting $104.02. The stock had a trading volume of 1,791,288 shares. Monsanto has a one year low of $82.70 and a one year high of $109.33. The stock has a 50-day moving average of $102. and a 200-day moving average of $102.7. The company has a market cap of $55.287 billion and a price-to-earnings ratio of 22.75.
Monsanto (NYSE:MON) last posted its quarterly earnings results on Wednesday, October 2nd. The company reported ($0.47) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.43) by $0.04. The company had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter last year, the company posted ($0.44) earnings per share. Monsanto’s revenue was up 5.0% compared to the same quarter last year.
A number of other analysts have also recently weighed in on MON. Analysts at Canaccord Genuity raised their price target on shares of Monsanto from $121.00 to $124.00 in a research note to investors on Thursday, October 3rd. They now have a “buy” rating on the stock. Separately, analysts at Deutsche Bank raised their price target on shares of Monsanto from $116.00 to $120.00 in a research note to investors on Thursday, October 3rd. They now have a “buy” rating on the stock. Finally, analysts at Goldman Sachs Group Inc. downgraded shares of Monsanto from a “conviction-buy” rating to a “buy” rating in a research note to investors on Thursday, October 3rd. They now have a $118.00 price target on the stock, down previously from $124.00. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and fourteen have issued a buy rating to the company’s stock. Monsanto has an average rating of “Buy” and a consensus price target of $110.64.
Monsanto Company (NYSE:MON), along with its subsidiaries, is a provider of agricultural products for farmers.
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