Agricultural products maker Monsanto Company (
) on Wednesday reported lower-than-expected third quarter earnings,
hurt partially by lower pricing of its Roundup weed killer
The firm reported third quarter net income of $384 million, or
70 cents per share, compared with $694 million, or $1.25 per share,
in the year-ago period. Sales fell 6.75% from last year, to $2.96
Both of those figures missed analyst expectations. On average,
Wall Street analysts expected earnings of 79 cents per share, on
revenue of $3.17 billion.
Looking ahead, the company reaffirmed its previously-announced
full-year outlook for adjusted earnings of $2.40 to $2.60 per
Monsanto shares fell 54 cents, or -1.1%, in premarket trading
The Bottom Line
We had removed shares of MON from our recommended list back on May
13, 2009 when the stock was trading $47.34. The company has a 2.24%
dividend yield, based on last night's closing stock price of
$47.34. The stock has technical support in the $40-$44 price area.
If the shares can firm up, we see overhead resistance around the
$55 price level. We would remain on the sidelines for now.
Monsanto Company (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.2 out of 5 stars.
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, as well as a detailed explanation of
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