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Market Update (NYSE:MON): French court overturns decree banning Monsanto GMO maize

[Reuters] – France’s top administrative court on Friday overturned a government decree banning the cultivation of a type of genetically modified maize produced by U.S. group Monsanto. The court said the decree from … Read more on this. Monsanto Company (MON) , with a current market cap of $38.39B, began trading this morning at $88.75. Looking at the stock, its one day range is $85.92 to $88.75 with a trailing 52-week range being $81.22 to $123.82. Monsanto (MON) shares are currently priced at 19.22x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 11.88x earnings multiple for the same period. And for dividend hunters, the company pays shareholders $2.16 per share annually in dividends, yielding 2.47%. According to a consensus of 20 analysts, the earnings estimate of $2.39 per share would be $0.00 worse than the year-ago quarter and a $0.09 sequential decrease. The full-year EPS estimate is $4.67 which would be a $1.06 worse than last year’s full-year earnings. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $4.46 Billion. If realized, that would be a 2.62% decrease over the year-ago quarter. More recently, Citigroup downgraded MON from Buy to Neutral (Mar 14, 2016). Previously, Goldman downgraded MON from Neutral to Sell. The average price target for MON shares is $98.16, which is 10.60% above where the stock opened this morning. See more in (NYSE:MON) Similar Articles: Market Update: Monsanto Company (NYSE:MON) – Argentina farmers ask state to intervene in Monsanto soy fight Stock Update: Monsanto Company (NYSE:MON) – Monsanto to pay $80 million in SEC settlement over Roundup earnings Market Update: Monsanto Company (NYSE:MON) – Farmers to Gain Access to Monsanto’s Roundup Ready 2 Xtend™ Soybeans in 2016
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