Scotiabank Forecasts CF Industries FY2024 Earnings

CF Industries Holdings, Inc. (NYSE:CF) – Equities research analysts at Scotiabank issued their FY2024 earnings estimates for CF Industries in a report released on Monday, November 4th. Scotiabank analyst B. Isaacson expects that the basic materials company will post earnings per share of $6.37 for the year. Scotiabank has a “Sector Perform” rating and a $88.00 price target on the stock. The consensus estimate for CF Industries’ current full-year earnings is $6.07 per share. Scotiabank also issued estimates for CF Industries’ FY2025 earnings at $5.85 EPS.

CF Industries (NYSE:CF) last released its quarterly earnings results on Wednesday, October 30th. The basic materials company reported $1.55 EPS for the quarter, topping the consensus estimate of $1.05 by $0.50. CF Industries had a return on equity of 14.57% and a net margin of 19.45%. The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same period in the previous year, the company posted $0.85 EPS. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year.

CF has been the subject of several other research reports. Mizuho boosted their price objective on shares of CF Industries from $76.00 to $93.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Bank of America downgraded CF Industries from a “neutral” rating to an “underperform” rating and set a $83.00 price target on the stock. in a research report on Wednesday, October 16th. Redburn Atlantic began coverage on CF Industries in a research report on Friday, October 18th. They issued a “neutral” rating and a $77.00 price objective for the company. Barclays upped their target price on CF Industries from $90.00 to $96.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Finally, Royal Bank of Canada increased their price target on CF Industries from $95.00 to $100.00 and gave the company an “outperform” rating in a research note on Monday. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $88.08.

CF Industries Stock Performance

Shares of CF Industries stock opened at $84.64 on Thursday. The company has a market capitalization of $14.73 billion, a PE ratio of 13.39, a P/E/G ratio of 2.37 and a beta of 0.97. The company has a 50-day simple moving average of $83.57 and a two-hundred day simple moving average of $78.61. CF Industries has a one year low of $69.13 and a one year high of $90.86. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.52 and a current ratio of 2.81.

Hedge Funds Weigh In On CF Industries

Several large investors have recently made changes to their positions in the company. Councilmark Asset Management LLC purchased a new position in CF Industries during the first quarter worth approximately $1,251,000. Quantbot Technologies LP acquired a new stake in CF Industries in the 1st quarter valued at $610,000. Swedbank AB purchased a new stake in CF Industries in the 1st quarter worth $19,824,000. Mirae Asset Global Investments Co. Ltd. raised its position in CF Industries by 113.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 99,757 shares of the basic materials company’s stock worth $8,018,000 after acquiring an additional 52,960 shares during the period. Finally, Envestnet Portfolio Solutions Inc. lifted its holdings in CF Industries by 17.0% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 50,243 shares of the basic materials company’s stock valued at $3,724,000 after purchasing an additional 7,294 shares in the last quarter. 93.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, VP Ashraf K. Malik sold 7,201 shares of the stock in a transaction on Friday, October 4th. The shares were sold at an average price of $90.02, for a total value of $648,234.02. Following the sale, the vice president now owns 29,211 shares in the company, valued at $2,629,574.22. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Ashraf K. Malik sold 7,201 shares of the company’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $90.02, for a total value of $648,234.02. Following the sale, the vice president now owns 29,211 shares in the company, valued at $2,629,574.22. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Susan L. Menzel sold 2,000 shares of the firm’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $90.00, for a total value of $180,000.00. Following the sale, the executive vice president now directly owns 66,268 shares in the company, valued at approximately $5,964,120. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.48% of the company’s stock.

CF Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.36%. The ex-dividend date is Friday, November 15th. CF Industries’s payout ratio is 31.65%.

About CF Industries

CF Industries Holdings, Inc, together with its subsidiaries, engages in the manufacture and sale of hydrogen and nitrogen products for energy, fertilizer, emissions abatement, and other industrial activities in North America, Europe, and internationally. It operates through Ammonia, Granular Urea, UAN, AN, and Other segments.