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Stock Update: Monsanto Company (NYSE:MON) – Monsanto Company and Remington Holding Company, LLC, Announce New Strategic Joint Venture to Drive Innovation and Market Access for Sorghum

[Business Wire] – Monsanto Company and Remington Holding Company, LLC, , the parent company of a leading provider of customized seed production, processing, logistics and related services to the global seed industry, announced today that they are forming a new joint venture with an initial strategic focus on sorghum. Read more on this. Monsanto Company (MON) , with a current market cap of $47.05B, started trading this morning at $107.28. Today’s price range has been between $106.85 and $107.98 per share and has traded between $81.22 and $114.70 over the past year. Priced at 23.25x this year’s forecasted earnings, MON shares are relatively inexpensive compared to the industry’s 86.09x forward p/e ratio. And for dividend hunters, the company pays shareholders $2.16 per share annually in dividends, yielding 1.98%. 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 $0.05 sequential increase. In looking at the bigger picture, the full-year EPS estimate of $4.63 would be a $1.10 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 $4.50 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. When considering if the stock is under or overvalued, the average price target is $104.80, which is 2.31% 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 Company Update: Monsanto Company (NYSE:MON) – Monsanto’s Continued Progress across Key Milestones Reinforces Confidence in Its Innovation-Based Growth Drivers Market Update: Monsanto Company (NYSE:MON) – Farmers to Gain Access to Monsanto’s Roundup Ready 2 Xtend™ Soybeans in 2016
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