Potash Corp./Saskatchewan (USA)
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Potash beats by $0.22, beats on revs; guides Q2 EPS in-line; guides FY08 EPS above consensus
Briefing.com
Posted: 2008-04-24 06:08:16
Reports Q1 (Mar) earnings of $1.74 per share, $0.22 better than the First Call consensus of $1.52; revenues rose 63.7% year/year to $1.89 bln vs the $1.67 bln consensus. Co issues in-line guidance for Q2, sees EPS of $2.20-2.50 vs. $2.30 consensus. Co issues upside guidance for FY08, sees EPS of $9.50-10.50 vs. $8.84 consensus.
Briefing.com
Posted: 2008-04-24 06:08:16
Reports Q1 (Mar) earnings of $1.74 per share, $0.22 better than the First Call consensus of $1.52; revenues rose 63.7% year/year to $1.89 bln vs the $1.67 bln consensus. Co issues in-line guidance for Q2, sees EPS of $2.20-2.50 vs. $2.30 consensus. Co issues upside guidance for FY08, sees EPS of $9.50-10.50 vs. $8.84 consensus.
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Potash Corp./Saskatchewan (USA)
Analyst raises Potash Corp. target on possible price hikes
Analyst hikes price target on Potash Corp. of Saskatchewan on expected rise in potash prices
April 17, 2008: 01:13 PM EST
NEW YORK (Associated Press) - An analyst hiked his price target on Canadian fertilizer maker Potash Corp. of Saskatchewan Inc. on Thursday to $300, based on an expected rise in the price of potash, which is used for fertilizer.
RBC Capital Markets analyst Fai Lee's new price target, up from $250, implies upside of 51.3 percent to Wednesday's $198.26 closing price.
Lee said some in the industry think potash prices may hit $1,000 per metric ton by the end of this year.
Lee's new first-quarter profit estimate is $1.64 per share, from $1.32 previously, and analysts polled by Thomson Financial expect $1.50 per share.
Demand for potash has been driven by rising food consumption worldwide and rising demand for ethanol, which is made from corn.
Meanwhile, Potash on Wednesday said its joint-venture company inked a deal to sell potash to Sinofert Holdings Ltd., a Chinese fertilizer company, for $400 per ton higher than last year.
Shares of Potash declined $5.99, or 3 percent, to $192.25, but set an all-time high of $199.89 earlier in the session.
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Market Scan
China Pays Up For Potash
Carl Gutierrez, 04.16.08, 5:40 PM ET (nyse: POT - news - people ) said Wednesday that Chinese customers had agreed to pay $576 per ton for potash this year, a gargantuan increase from $176 per ton in 2007. The accord was for 1 million tons and was signed by Canpotex, a marketing compay for Saskatchewan potash producers, and the Chinese agency Sinofert.
Analyst hikes price target on Potash Corp. of Saskatchewan on expected rise in potash prices
April 17, 2008: 01:13 PM EST
NEW YORK (Associated Press) - An analyst hiked his price target on Canadian fertilizer maker Potash Corp. of Saskatchewan Inc. on Thursday to $300, based on an expected rise in the price of potash, which is used for fertilizer.
RBC Capital Markets analyst Fai Lee's new price target, up from $250, implies upside of 51.3 percent to Wednesday's $198.26 closing price.
Lee said some in the industry think potash prices may hit $1,000 per metric ton by the end of this year.
Lee's new first-quarter profit estimate is $1.64 per share, from $1.32 previously, and analysts polled by Thomson Financial expect $1.50 per share.
Demand for potash has been driven by rising food consumption worldwide and rising demand for ethanol, which is made from corn.
Meanwhile, Potash on Wednesday said its joint-venture company inked a deal to sell potash to Sinofert Holdings Ltd., a Chinese fertilizer company, for $400 per ton higher than last year.
Shares of Potash declined $5.99, or 3 percent, to $192.25, but set an all-time high of $199.89 earlier in the session.
•
Market Scan
China Pays Up For Potash
Carl Gutierrez, 04.16.08, 5:40 PM ET (nyse: POT - news - people ) said Wednesday that Chinese customers had agreed to pay $576 per ton for potash this year, a gargantuan increase from $176 per ton in 2007. The accord was for 1 million tons and was signed by Canpotex, a marketing compay for Saskatchewan potash producers, and the Chinese agency Sinofert.
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