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Market Update (NYSE:MON): Monsanto Board Approves Dividend of 54 Cents Per Share

[Business Wire] – Monsanto Company announced today that its Board of Directors declared a quarterly dividend on its common stock of 54 cents per share. The dividend relates to the company’s third quarter of its 2016 fiscal year and is payable on July 29, 2016, to shareowners of record on July 8, 2016. Read more on this. Monsanto Company (MON) , with a current value of $47.64B, began trading this morning at $107.61. Looking at today’s trading action, the company’s one day range from $107.45 to $109.25 with a trailing 52-week range being $81.22 to $115.45. Monsanto (MON) shares are currently priced at 23.38x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 85.70x earnings multiple for the same period. And for passive income investors, the company pays shareholders $2.16 per share annually in dividends, yielding 1.99%. In a review of the consensus earnings estimate this quarter, 17 sell-side analysts are looking at $2.42 per share, which would be $0.03 better than the year-ago quarter and a $0.04 sequential increase. In looking at the bigger picture, the full-year EPS estimate of $4.63 would be a $1.10 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 $4.50 Billion. If realized, that would be a 1.75% decrease over the year-ago quarter. Recently, Jefferies upgraded MON from Hold to Buy (May 25, 2016). Previously, Citigroup downgraded MON from Buy to Neutral. Investors should keep in mind is that the average price target is $100.00, which is 7.07% below where the stock opened this morning. See more in (NYSE:MON) Similar Articles: Market Update: Monsanto Company (NYSE:MON) – Bayer expands financing group for Monsanto bid-source Market Update: Monsanto Company (NYSE:MON) – Argentina farmers ask state to intervene in Monsanto soy fight Market Update: Monsanto Company (NYSE:MON) – Farmers to Gain Access to Monsanto’s Roundup Ready 2 Xtend™ Soybeans in 2016
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