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Company Update (NYSE:MON): Argentina reaches agreement over inspection of Monsanto soy

[Reuters] – Argentina’s government will oversee the testing of soybean crops under a deal aimed at satisfying demands by U.S. seed company Monsanto that its genetically altered technology be protected, the nation’s agriculture minister said on Thursday. Monsanto wanted export companies to inspect shipments as they do in neighboring Brazil, but Argentine farmers opposed that system and clamored for government control. “The (government’s) National Seed Institute will work out agreements with public and private entities to carry out selective inspections to determine the legality of seeds,” Agriculture Minister Ricardo Buryaile said at a news conference. Read more on this. Monsanto Company (MON) , with a current value of $47.54B, opened this morning at $108.17. During today’s session, MON traded between $107.74 to $109.01 and has traded between $81.22 and $114.26 over the past 12 months. Monsanto (MON) shares are currently priced at 23.14x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 85.55x earnings multiple for the same period. And for those looking to make a return holding the stock, the company pays shareholders $2.16 per share annually in dividends, yielding 1.99%. Consensus earnings for the current quarter by the 17 sell-side analysts covering the stock is an estimate of $2.42 per share, which would be $0.03 better than the year-ago quarter and a $0.05 sequential increase. What we find to be interesting is 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. Investors should keep in mind is that the average price target is $104.80, which is 3.12% below where the stock opened this morning. See more in (NYSE:MON) Similar Articles: Company Update: Monsanto Company (NYSE:MON) – Monsanto suspends new soybean technologies in Argentina 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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