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Agrium’s Q3 Profit Misses, Despite Healthy Gains (AGU)

Canadian fertilizer giant Agrium Inc. ( AGU ) on Wednesday said its third quarter profit surged 120% from last year, but results still missed analyst expectations.

The Calgary-based company reported third quarter net income of US$57 million, or 37 cents per share, compared with US$26 million or 16 cents per share, in the year-ago period. Excluding one-time items, adjusted profit was 70 cents per share.

Net sales jumped 9% from last year to $2.01 billion.

On average, Wall Street analysts expected a much higher profit of 87 cents per share, on larger revenue of US$2.1 billion.

Agrium shares fell 84 cents, or -1%, in premarket trading Wednesday.

The Bottom Line

Shares of Agrium ( AGU ) have a .13% dividend yield, based on last night's closing stock price of $87.22. The stock has technical support in the $78 price area. If the shares can firm up, we see overhead resistance around the $90-$97 price levels.

Agrium Inc. ( AGU ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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