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Stock Update: Monsanto Company (NYSE:MON) – Monsanto, DuPont sign supply agreement for dicamba herbicide

[Reuters] – U.S. seed and agrochemicals companies Monsanto Co and DuPont said on Thursday they have signed a multi-year supply agreement for the weed killer dicamba in the United States and Canada. Under the deal, whose terms were not disclosed, Monsanto will supply its farm seeds and chemicals rival with the herbicide, which will be sold as DuPont FeXapan herbicide plus VaporGrip Technology, the companies said. The chemical is meant for use with Monsanto’s Roundup Ready 2 Xtend soybeans, a genetically modified variety designed to tolerate applications of dicamba and glyphosate herbicides. Read more on this. Monsanto Company (MON) , with a current value of $44.01B, started the session at $100.15. Today, shares have traded between $99.90 and $101.14 per share and has traded between $81.22 and $114.26 over the past year. MON shares are currently priced at 22.24x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 88.15x 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 2.15%. In a review of the consensus earnings estimate this quarter, 16 sell-side analysts are looking at $-0.04 per share, which would be $0.00 worse than the year-ago quarter and a $0.00 sequential increase. The full-year EPS estimate is $4.47, which would be a $1.26 better than last year. The quarterly earnings estimate is predicated on a consensus revenue forecast of $2.40 Billion. If reported, that would be a 1.69% increase over the year-ago quarter. Recently, Jefferies upgraded MON from Hold to Buy (May 25, 2016). Previously, Citigroup downgraded MON from Buy to Neutral. The average price target for MON shares by the analysts covering the stock is $112.07, which is 11.90% above where the stock opened this morning. See more in (NYSE:MON) Similar Articles: Company Update (NYSE:DD): Monsanto and DuPont Sign Dicamba Supply Agreement Company Update (NYSE:MON): Argentina reaches agreement over inspection of Monsanto soy Market Update: Monsanto Company (NYSE:MON) – Monsanto Named to MIT Technology Review’s 50 Smartest Companies List for 2016
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