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Company Update (NYSE:MON): Bayer ex-CEO Dekkers opposed Monsanto deal -Spiegel

[Reuters] – Bayer ex-chief executive Marijn Dekkers opposed the company’s plans for a $62 billion takeover of U.S. seeds firm Monsanto, German magazine Der Spiegel reported. Dekkers warned Bayer non-executive board chairman Werner Wenning against going ahead with the offer, Der Spiegel said in an excerpt of an article to be published on Saturday made available to Reuters on Friday. Dekkers left to become Unilever chairman in May. Read more on this. Monsanto Company (MON) , with a current market cap of $47.99B, started trading this morning at $110.09. Looking at today’s market, MON one day range is $109.39 to $110.17 with the price of the stock fluctuating between $81.22 to $115.10 over the last 52 weeks. MON shares are currently priced at 23.76x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 85.70x earnings multiple. 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. Investors should also note that the full-year EPS estimate of $4.63 is a $1.10 setback when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $4.50 Billion. If reported, 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. With the above information in mind, readers should note that the average price target is $100.00, which is 9.17% 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) – Bayer could get ECB financing for Monsanto bid, rules show Stock Update: Monsanto Company (NYSE:MON) – Bayer defies critics with $62 billion Monsanto offer
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