Breaking News Bar

Business News and Information

Company Update: Monsanto Company (NYSE:MON) – Monsanto suspends new soybean technologies in Argentina

[Reuters] – Monsanto Co said on Tuesday it would suspend future soybean technologies in Argentina, a move that could limit output of the country’s main cash crop, after a disagreement with the government over inspections of genetically modified soybeans. The dispute blew up after Monsanto asked Argentine exporters to inspect soybean shipments to ensure farmers are paying royalties for using the company’s products. The Argentine government told the world’s largest seed company that such inspections must first be approved by the government. Read more on this. Monsanto Company (MON) , with a current value of $42.69B, started the session at $97.87. A quick look at the market, the company’s stock traded between $97.51 and $100.50 with a trailing 52-week range being $81.22 to $121.09. MON shares are currently priced at 21.18x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 11.55x forward p/e ratio. And for income investors, the company pays shareholders $2.16 per share annually in dividends, yielding 2.16%. Consensus earnings for the current quarter by the 21 sell-side analysts covering the stock is an estimate of $2.38 per share, which would be $0.01 worse than the year-ago quarter and a $0.08 sequential decrease. Investors should also note that the full-year EPS estimate of $4.64 is a $1.09 worse when compared to the previous year’s annual results. 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. 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 by the analysts covering it is $98.16, which is 0.30% above where the stock opened. 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
Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
bottom clear