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Market Update (NYSE:MON): Argentine farmers urge gov’t to clinch GMO deal with Monsanto

[Reuters] – Argentine soy growers urged the country’s government on Wednesday to strike a deal with Monsanto Co, a day after the U.S. seed company suspended the launch of a new variety of soybean seed that would help ensure the country’s international competitiveness. Since the start of harvest in March, Monsanto and the Argentine government have been at loggerheads over the best way to inspect soy cargoes to ensure royalties are paid on Monsanto’s Intacta beans. The government says Monsanto has yet to submit a proposal for an inspection system. Read more on this. Monsanto Company (MON) , currently valued at $42.43B, started the session at $97.70. Looking at today’s trading action, the company’s one day range from $96.83 to $98.20 with a one year range of $81.22 to $121.09. Priced at 21.06x this year’s forecasted earnings, MON shares are 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. In looking at the bigger picture, the full-year EPS estimate of $4.64 would be a $1.09 setback 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. In terms of ratings, Citigroup downgraded MON from Buy to Neutral (Mar 14, 2016). Previously, Goldman downgraded MON from Neutral to Sell. Investors should keep in mind is that the average price target is $98.16, which is 0.47% 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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