Potash Corporation of Saskatchewan Inc. (POT) Now Covered by HSBC Holdings plc

HSBC Holdings plc began coverage on shares of Potash Corporation of Saskatchewan Inc. (NYSE:POT) (TSE:POT) in a research report issued to clients and investors on Wednesday. The firm set a “buy” rating and a $24.25 price target on the fertilizer maker’s stock. HSBC Holdings plc’s target price points to a potential upside of 27.50% from the stock’s current price.

Several other equities analysts have also recently commented on the company. Scotiabank raised Potash Corporation of Saskatchewan from a “sector perform” rating to an “outperform” rating and set a $20.00 price target for the company in a report on Monday, July 10th. TD Securities upgraded Potash Corporation of Saskatchewan from a “hold” rating to a “buy” rating and upped their price objective for the company from $17.50 to $24.00 in a research note on Thursday, September 28th. Zacks Investment Research lowered Potash Corporation of Saskatchewan from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. Royal Bank Of Canada reiterated a “buy” rating and issued a $19.00 price objective on shares of Potash Corporation of Saskatchewan in a research note on Friday, July 28th. Finally, Cowen and Company set a $16.00 price objective on Potash Corporation of Saskatchewan and gave the company a “hold” rating in a research note on Thursday, July 27th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and an average target price of $19.16.

Potash Corporation of Saskatchewan (NYSE:POT) (TSE:POT) last announced its quarterly earnings results on Thursday, July 27th. The fertilizer maker reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). Potash Corporation of Saskatchewan had a return on equity of 5.19% and a net margin of 11.07%. The company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $982.05 million. During the same period in the prior year, the firm earned $0.18 EPS. Potash Corporation of Saskatchewan’s quarterly revenue was up 6.4% on a year-over-year basis.

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A number of institutional investors and hedge funds have recently made changes to their positions in the business. IFP Advisors Inc raised its position in Potash Corporation of Saskatchewan by 0.6% during the second quarter. IFP Advisors Inc now owns 12,289 shares of the fertilizer maker’s stock valued at $200,000 after purchasing an additional 76 shares in the last quarter. Cornerstone Advisors Inc. raised its position in Potash Corporation of Saskatchewan by 1.8% during the second quarter. Cornerstone Advisors Inc. now owns 6,749 shares of the fertilizer maker’s stock valued at $110,000 after purchasing an additional 122 shares in the last quarter. Comerica Bank raised its position in Potash Corporation of Saskatchewan by 1.1% during the first quarter. Comerica Bank now owns 51,656 shares of the fertilizer maker’s stock valued at $879,000 after purchasing an additional 567 shares in the last quarter. Roberts Glore & Co. Inc. IL raised its position in Potash Corporation of Saskatchewan by 1.4% during the second quarter. Roberts Glore & Co. Inc. IL now owns 42,475 shares of the fertilizer maker’s stock valued at $692,000 after purchasing an additional 600 shares in the last quarter. Finally, Financial Architects Inc raised its position in Potash Corporation of Saskatchewan by 11.7% during the second quarter. Financial Architects Inc now owns 6,700 shares of the fertilizer maker’s stock valued at $109,000 after purchasing an additional 700 shares in the last quarter. Institutional investors and hedge funds own 56.98% of the company’s stock.

Potash Corporation of Saskatchewan Company Profile

Potash Corporation of Saskatchewan Inc (PCS) is a fertilizer producer producing a range of primary crop nutrients, such as potash, nitrogen and phosphate. The Company operates through three segments: potash, nitrogen and phosphate. As of December 31, 2016, it owned and operated five potash operations in Saskatchewan and owned one in New Brunswick.

Analyst Recommendations for Potash Corporation of Saskatchewan (NYSE:POT)

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