Scotiabank Raises CF Industries (NYSE:CF) Price Target to $88.00

CF Industries (NYSE:CF) had its price objective raised by Scotiabank from $80.00 to $88.00 in a research report released on Monday morning, Benzinga reports. The firm currently has a sector perform rating on the basic materials company’s stock.

CF has been the topic of several other reports. Wells Fargo & Company cut their price objective on shares of CF Industries from $87.00 to $83.00 and set an overweight rating on the stock in a research report on Tuesday, July 16th. Royal Bank of Canada reduced their price target on shares of CF Industries from $90.00 to $85.00 and set an outperform rating for the company in a research report on Monday, July 15th. Bank of America boosted their price objective on shares of CF Industries from $76.00 to $83.00 and gave the stock a neutral rating in a report on Friday, August 9th. Berenberg Bank increased their target price on CF Industries from $68.00 to $69.00 and gave the company a hold rating in a research note on Wednesday, April 17th. Finally, UBS Group boosted their price target on CF Industries from $78.00 to $80.00 and gave the stock a neutral rating in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $85.55.

CF Industries Stock Performance

Shares of CF opened at $80.55 on Monday. The company has a quick ratio of 3.55, a current ratio of 3.94 and a debt-to-equity ratio of 0.37. The stock has a market cap of $14.72 billion, a P/E ratio of 13.38, a P/E/G ratio of 2.44 and a beta of 0.95. The business’s 50 day moving average price is $74.03 and its 200-day moving average price is $77.56. CF Industries has a 52 week low of $69.13 and a 52 week high of $87.90.

CF Industries (NYSE:CF) last announced its quarterly earnings data on Wednesday, August 7th. The basic materials company reported $2.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.80 by $0.50. CF Industries had a return on equity of 14.08% and a net margin of 19.03%. The business had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter in the previous year, the business earned $2.70 earnings per share. The firm’s quarterly revenue was down 11.4% compared to the same quarter last year. Equities research analysts anticipate that CF Industries will post 5.18 earnings per share for the current fiscal year.

CF Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Thursday, August 15th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date of this dividend is Thursday, August 15th. CF Industries’s dividend payout ratio (DPR) is presently 33.22%.

Institutional Investors Weigh In On CF Industries

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Victory Capital Management Inc. grew its position in CF Industries by 401.2% during the second quarter. Victory Capital Management Inc. now owns 3,639,079 shares of the basic materials company’s stock valued at $269,729,000 after buying an additional 2,912,942 shares during the period. Norges Bank bought a new stake in shares of CF Industries during the 4th quarter valued at $193,145,000. Boston Partners increased its stake in shares of CF Industries by 37.5% in the 1st quarter. Boston Partners now owns 3,063,854 shares of the basic materials company’s stock worth $254,920,000 after purchasing an additional 835,557 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in CF Industries by 68.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,546,331 shares of the basic materials company’s stock worth $122,933,000 after purchasing an additional 630,264 shares during the period. Finally, First Trust Advisors LP lifted its position in CF Industries by 16.5% during the fourth quarter. First Trust Advisors LP now owns 2,928,039 shares of the basic materials company’s stock valued at $232,779,000 after purchasing an additional 414,785 shares in the last quarter. Hedge funds and other institutional investors own 93.06% of the company’s stock.

CF Industries Company Profile

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.