MOP (muriate of potash) is the key potash fertilizer (XLB) used globally.
For the week ending November 25, DAP price movements were broadly flat to negative compared to the previous week.
The closure of Chinese anthracite-based producers due to higher production costs appears to be having a continued positive effect on urea prices.
Natural gas can account for as much as two-thirds of the total production costs for natural-gas-based nitrogen fertilizer producers.
The week ending November 25 was broadly negative for agricultural fertilizer companies. The S&P 500 (SPY) rose by 69 basis points during the week.
As of November 25, 2016, Chipotle Mexican Grill was trading at $410.3. This price might have already factored in the estimates we discussed in this series.
Chipotle Mexican Grill (CMG) posted an adjusted EPS (earnings per share) of $0.79 in 3Q16, as compared to $4.6 in 3Q15, which represents a 66% fall.
Chipotle is trading at a higher PE multiple than the peer median. After the E. Coli outbreak and blowback, analysts have lowered their earnings estimates.
In 3Q16, Chipotle posted revenues of $1 billion—a fall of 14.8% from $1.2 billion in 3Q15. Analysts expected the company’s 3Q16 revenues to be $1.1 billion.
After posting lower-than-expected 3Q16 earnings on October 25, 2016, Chipotle Mexican Grill’s (CMG) stock price declined to $368 on October 26, 2016.
Of the 20 analysts covering Mondelēz International (MDLZ), 14 analysts (70.0%) have issued “buy” recommendations on the stock as of November 22.
As of November 22, Mondelēz was trading at a 12-month forward PE ratio of 20.4x, which is higher than the S&P 500 Index’s forward PE of 17.2x.
In 3Q16, Mondelēz reported a 6.6% fall in revenues on the deconsolidation of Venezuelan operations, unfavorable currency movements, and accounting changes.
Mondelēz saw adjusted EPS of $0.52 in 3Q16—a rise of 36.8% YoY on higher adjusted operating income, strong numbers from coffee investments, and lower taxes.
Mondelēz International’s (MDLZ) stock rose 3.6% to $44.32 per share on October 26, 2016, after the announcement of the company’s 3Q16 results.
Needham analyst Rajvindra Gill noted that Nvidia (NVDA) has tripled its revenue in just one year, driven by the increasing adoption of AI by cloud service providers such as Microsoft and Amazon.
MOP is the key potash fertilizer (XLB) used globally. For the week ending November 18, the potash price movement was broadly flat to positive.
Fertilizer affordability rose to 0.66x from 0.63x week-over-week. A ratio below one means that fertilizers are more affordable than during the base year.
In the week ending November 18, average MAP prices in Brazil fell by 89 basis points to $334 per metric ton from $337 per metric ton the previous week.
For the week ending November 18, DAP (diammonium phosphates) price movements were broadly negative—compared to the previous week.