CF Industries Holdings, Inc. (NYSE:CF) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Wednesday.
According to Zacks, “CF Industries saw lower profits in the second quarter of 2017. Adjusted earnings, however, beat the Zacks Consensus Estimate. Revenues fell modestly year over year, but beat expectations. CF Industries is well placed to gain from its efforts to boost production capacity. It should also benefit from higher nitrogen demand driven by healthy corn plantations. The company's nitrogen business is also enjoying the benefit of abundant natural gas supply. However, CF Industries has underperformed the industry it belongs to for the past six months. CF Industries anticipates the challenging nitrogen pricing environment to continue through 2017. High supply levels in the global nitrogen market due to capacity additions are hurting prices. The company is also exposed to challenging agriculture market fundamentals. Moreover, CF Industries has a debt-laden balance sheet.”
Other equities research analysts have also recently issued research reports about the stock. Credit Suisse Group set a $31.00 price target on shares of CF Industries Holdings and gave the company a “buy” rating in a research report on Sunday, May 28th. UBS AG upgraded shares of CF Industries Holdings from a “neutral” rating to a “buy” rating and set a $33.00 price objective for the company in a report on Friday, May 5th. Royal Bank Of Canada set a $25.00 price objective on shares of CF Industries Holdings and gave the stock a “sell” rating in a report on Saturday, June 10th. Piper Jaffray Companies restated a “hold” rating on shares of CF Industries Holdings in a report on Friday, August 4th. Finally, Citigroup Inc. upgraded shares of CF Industries Holdings from a “neutral” rating to a “buy” rating in a report on Monday, May 8th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. CF Industries Holdings has a consensus rating of “Hold” and a consensus price target of $32.58.
Shares of CF Industries Holdings (CF) opened at 29.16 on Wednesday. The company’s market capitalization is $6.80 billion. The firm has a 50-day moving average of $29.75 and a 200 day moving average of $29.50. CF Industries Holdings has a 1-year low of $22.00 and a 1-year high of $37.17.
CF Industries Holdings (NYSE:CF) last announced its quarterly earnings results on Wednesday, August 2nd. The basic materials company reported $0.10 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.18. The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.06 billion. CF Industries Holdings had a negative net margin of 9.98% and a negative return on equity of 0.40%. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.33 EPS. On average, equities research analysts expect that CF Industries Holdings will post ($0.70) earnings per share for the current year.
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In related news, VP Bert A. Frost sold 6,400 shares of the stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $31.53, for a total value of $201,792.00. Following the completion of the transaction, the vice president now directly owns 59,732 shares in the company, valued at approximately $1,883,349.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.00% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in CF Industries Holdings by 2.2% in the second quarter. Vanguard Group Inc. now owns 24,160,218 shares of the basic materials company’s stock worth $675,520,000 after buying an additional 523,655 shares in the last quarter. FMR LLC raised its stake in CF Industries Holdings by 12.1% in the first quarter. FMR LLC now owns 23,826,054 shares of the basic materials company’s stock worth $699,295,000 after buying an additional 2,577,455 shares in the last quarter. BlackRock Inc. raised its stake in CF Industries Holdings by 3,912.4% in the first quarter. BlackRock Inc. now owns 20,034,069 shares of the basic materials company’s stock worth $587,999,000 after buying an additional 19,534,765 shares in the last quarter. Capital World Investors raised its stake in CF Industries Holdings by 21.4% in the second quarter. Capital World Investors now owns 15,203,728 shares of the basic materials company’s stock worth $425,096,000 after buying an additional 2,675,809 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in CF Industries Holdings by 8.7% in the first quarter. Bank of New York Mellon Corp now owns 5,712,236 shares of the basic materials company’s stock worth $167,653,000 after buying an additional 459,582 shares in the last quarter.
About CF Industries Holdings
CF Industries Holdings, Inc manufactures and distributes nitrogen fertilizer, and other nitrogen products. The Company’s nitrogen fertilizer products are ammonia, granular urea, urea ammonium nitrate solution (UAN) and ammonium nitrate (AN). Its other nitrogen products include diesel exhaust fluid (DEF), urea liquor, nitric acid and aqua ammonia, which are sold primarily to the Company’s industrial customers, and compound fertilizer products (nitrogen, phosphorus and potassium or NPKs).
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