Potash Corp Stock Rating Reaffirmed by Zacks (POT)

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Potash Corp (NYSE: POT)‘s stock had its “neutral” rating reaffirmed by Zacks in a report issued on Tuesday, AnalystRatingsNetwork reports. They currently have a $44.00 price objective on the stock. Zacks‘ target price would suggest a potential upside of 6.00% from the stock’s previous close.

Zacks‘ analyst wrote, “We are retaining our Neutral recommendation on Potash Corporation. Both revenues and earnings for first-quarter 2013 topped Zacks Consensus Estimates. Revenues climbed by double digits year over year, driven by higher potash demand. The company registered a rise in sales volumes for potash and nitrogen in the quarter. Potash Corp. is expected to gain from a recovery in fertilizer demand in 2013. Moreover, it will benefit from expanded operational capability. However, demand for potash and phosphate remains somewhat weak in India, a key market. The company is also exposed to volatility in potash and phosphate pricing.”

Shares of Potash Corp (NYSE: POT) traded down 1.23% during mid-day trading on Tuesday, hitting $41.00. Potash Corp has a one year low of $36.94 and a one year high of $46.16. The stock’s 50-day moving average is currently $42.. The company has a market cap of $35.471 billion and a P/E ratio of 17.01.

Potash Corp (NYSE: POT) last announced its earnings results on Thursday, April 25th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.04. The company had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter in the previous year, the company posted $0.56 earnings per share. The company’s revenue for the quarter was up 20.3% on a year-over-year basis. Potash Corp has set its Q2 guidance at $0.70-0.85 EPS and its FY13 guidance at $2.75-3.25 EPS. Analysts expect that Potash Corp will post $2.95 EPS for the current fiscal year.

POT has been the subject of a number of other recent research reports. Analysts at TheStreet reiterated a “buy” rating on shares of Potash Corp in a research note to investors on Monday. Separately, analysts at Cowen Securities reiterated an “underperform” rating on shares of Potash Corp in a research note to investors on Wednesday, May 29th. They now have a $35.00 price target on the stock.

Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and twelve have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $45.19.

The company also recently declared a quarterly dividend, which is scheduled for Friday, August 2nd. Investors of record on Friday, July 12th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date of this dividend is Wednesday, July 10th.

Potash Corporation of Saskatchewan Inc. (NYSE: POT) is an integrated fertilizer and related industrial and feed products company.

To view Zacks’ full report, visit www.zacks.com

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