Fertilizer maker Potash Corp. (
) on Thursday posted better-than-expected first quarter earnings,
aided by a big spike in grain prices, which in turn drives demand
for its products.
The Saskatoon, Canada-based company reported first quarter net
income of $732 million, or 84 cents per share, compared with $444
million, or 49 cents per share, in the year-ago period.
Revenue jumped almost 30% from last year to $2.20 billion.
On average, Wall Street analysts expected a smaller profit of 80
cents per share, on lower revenue of $2.01 billion.
Potash shares rose 61 cents, or +1.1%, in premarket trading
The Bottom Line
Shares of Potash Corp (
) have a .49% dividend yield, based on last night's closing stock
price of $57.19. The stock has technical support in the $50-$53
price area. If the shares can firm up, we see overhead resistance
around the $60-$63 price levels.
Potash Corp. (
) is a "Recommended" dividend stock, holding a Dividend.com DARS™
Rating of 3.4 out of 5 stars.
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, as well as a detailed explanation of
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