Potash Corp of Saskatchewan Inc
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Company & Industry Overviews
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Urea Prices Rose in Week Ended June 29
Last week, urea prices continued to be positive for companies (XLB) such as CF Industries (CF), Nutrien (NTR) (POT), and CVR Partners (UAN).
Last Week Was a Great Week for Fertilizer Prices
Last week, the major NPK (nitrogen, phosphorous, and potassium) fertilizer prices rose broadly week-over-week.
Fertilizer Stocks in June: Analysts’ Ratings and Price Targets
So far, June has been positive for most fertilizer stocks, buoyed by expectations of an improvement in commodity prices.
MAP Prices Were Broadly Higher Last Week
Contrary to the DAP (diammonium phosphate) prices, which remained broadly flat last week, MAP (monoammonium phosphate) prices were broadly higher in NOLA and Brazil.
Is Stephens Getting More Bullish on Intrepid Potash?
Intrepid Potash (IPI) reported its earnings on April 24 before the market opened.
A Peek at Potash Prices Last Week
Last week, potash prices were broadly flat to positive, similar to phosphate fertilizer prices.
Analyzing Diammonium Phosphate Prices Last Week
Last week, DAP (diammonium phosphate) prices were broadly flat to positive WoW (week-over-week) and much higher YoY (year-over-year).
Nutrien Stock: 1Q18 Earnings Results Snapshot
Nutrien (NTR)(POT)(AGU) reported its 1Q18 earnings on May 7 after the market closed.
Mosaic Stock Down after Its 1Q18 Earnings Results
The Mosaic Company (MOS) announced its 1Q18 earnings after the market closed on May 7. It posted adjusted EPS (earnings per share) of $0.11.
MAP Prices Continued to Weaken Last Week
Last week, MAP (monoammonium phosphate) prices mimicked the movements in DAP (diammonium phosphate) prices.
How Diammonium Phosphate Prices Fared Last Week
In the week that ended on April 13, 2018, DAP (diammonium phosphate) prices were broadly flat to negative.
Potash Prices Continued to Show Strength Last Week
In the week ended April 6, potash prices were broadly flat to positive.
How MAP Prices Moved Last Week
One of the positives for companies such as Mosaic (MOS), Nutrien (NTR) (POT), and CF Industries (CF) is the higher year-over-year prices that we’ve seen for fertilizers.
Potash Prices Were Strong Last Week
In the week ending March 30, 2018, potash prices were broadly flat to positive. Last week, the prices were also strong YoY (year-over-year).
How Did DAP Prices Move Last Week?
Last week, the DAP prices in the NOLA region rose by 53 basis points to $344 per metric ton from $342 per metric ton.
CF Industries: Analyzing the Ratings and Target Price in March
CF Industries reported its earnings on February 14. Before its earnings, CF Industries was trading at $39.7. CF Industries stock soared to $44.7 on March 5.
Nutrien: Analysts’ Ratings and Target Price in March
Nutrien (NTR) (POT) (AGU) reported its earnings on February 5, 2018. After the earnings were released, the stock price took a significant beating.
How Producers’ Potash Segments Trended in 4Q17
Due to the increase in potash prices this year, the overall potash segment margins for five companies discussed below expanded as much as 9% to 29% from 20% on average.
Which Producer Saw the Highest Potash Shipments in 4Q17?
Overall shipments in 4Q17 for five companies fell ~13% year-over-year.
How Fertilizer Producers’ Phosphate Margins Stacked Up in 4Q17
Agrium (AGU) (NTR) saw flat margins compared to 6% in the corresponding quarter a year ago in 4Q16.
How Producers’ Phosphate Selling Prices Moved in 4Q17
Phosphate fertilizers have been weaker year-over-year compared to potash and nitrogen fertilizer prices.
Which Company Led in Phosphate Shipments in 4Q17?
In 4Q17, median phosphate shipments continued their declining trend.
Comparing Producers’ Nitrogen Fertilizer Realized Prices in 4Q17
For years, nitrogen prices have been trending lower, but in 4Q17, ammonia, urea, and UAN (urea ammonium nitrate) realized prices finally improved.
Comparing Fertilizer Companies’ 4Q17 Sales Performances
Overall, these companies reported positive year-over-year sales growth, which is indicative of improving market conditions.
MAP Prices Inch Higher for the Week Ended February 23
Last week, MAP prices in both the locations rose on a weekly basis.
Why Selling Prices for CF Industries Rose in 4Q17
CF’s Granular Urea segment’s selling price increased 14.0% year-over-year to $244.00 per metric ton.
How Canadian Pacific’s Railcar Traffic Trended in Week 3
In line with its carload traffic growth, Canadian Pacific Railway reported 11.5% growth in intermodal volumes.
What Boosted Canadian Pacific’s Railcar Traffic in Week 2
Canadian Pacific’s railcar traffic Calgary-based Canadian Pacific Railway (CP) posted a marginal gain of 0.6% in its carload traffic in the week ended January 13, 2018, from 29,000 carloads in the week ended January 14, 2017, to 29,300 units. The company’s volume growth was in tune with that of US railroads but contrasted with the decline […]
Energy & Utilities
Inside Canadian Pacific’s Freight Volumes in Week 52
For the 52nd week of 2017 (ended December 30), Canadian Pacific Railway (CP) witnessed a 9.1% fall in its carload traffic.
CF Industries: Wall Street Recommendations and Targets
Given all that we’ve discussed so far in this series, let’s look at analyst ratings and price targets for CF Industries for the next 12 months.
CF Industries Valuation Multiple versus Peers’
In this part of our series, we’ll discuss the valuation multiples for CF Industries (CF) and compare with peers’ (XLB) such as PotashCorp (POT), Agrium (AGU), Mosaic (MOS), CVR Partners (UAN), and other agribusiness stocks.
Assessing the Shift in CF Industries’ Product Mix
In the earlier part of this series, we discussed how shipments impacted CF Industries’ (CF) sales. From our analysis, it’s clear that a rise in selling prices remains the most important growth catalyst for the company.
How CF Industries’ Segment Sales Fared in 2017
CF Industries (CF) sales growth remained depressed in 2017. In the first three quarters of 2017, the company reported sales growth of just about 1% year-over-year.
CF Industries: The Year in Review and the Outlook
CF Industries (CF) is one of the largest producers of nitrogen fertilizers in the United States. It delivered a positive earnings surprise with each of its three quarterly 2017 earnings.
China and India Gave PotashCorp-Agrium Merger Conditional Approval
In addition to the regulatory approval from the US (MOO), this merger has also received approval from Canada, Russia, India, China, and Brazil.
Analysts’ Estimates for Agribusiness Companies’ Earnings in 2018
Earnings per share Earlier, we discussed major agribusiness companies’ earnings, which have mostly fallen over the years. In 2018, their earnings are expected to rise. Next-12-month earnings As shown in the above chart, agribusiness companies’ NTM (next-12-month) EPS (earnings per share) are expected to improve year-over-year. FMC’s (FMC) EPS are expected rise 90% to $4.70, Agrium’s […]
Phosphate Prices in 2018
Phosphate prices Earlier in this series, we discussed phosphate prices in 2017 and what has driven prices down recently. We saw that excess capacity pushed down phosphate fertilizer (NANR) prices during the year. In this part, we’ll look at supply and demand trends for phosphate fertilizers in 2018. Supply and demand In 2017, overall global […]
What 2017 Meant for Phosphate Producers
Phosphate fertilizers Performance-wise, phosphate fertilizers have been weaker than potash and nitrogen fertilizers in 2017. As we’ve seen so far in this series, prices are key to investments in fertilizer companies. For the latest developments, read Fertilizer Price Update: Week Ended December 15. Price trends Mosaic’s (MOS), Agrium’s (AGU), and PotashCorp’s (POT) median sales price grew ~1% […]
What 2018 May Hold for Nitrogen Prices
Nitrogen in 2018 Nitrogen prices remained weak for most of 2017, falling as much as 27% YoY (year-over-year). Ammonia, a fundamental nitrogen input, is further upgraded to nitrogen fertilizers such as urea and urea ammonium nitrate. Ammonia supply As shown in the above chart, ammonia capacity saw a net addition of five million metric tons, or […]
Could Potash Prices Continue to Rise in 2018?
Potash in 2018 Earlier in this series, we reviewed potash prices in 2017. We saw that prices rose for key players in the second half of 2017. Could this momentum continue in 2018? Factors driving potash prices Prices are driven by supply and demand. Whereas for fertilizers (XLB), global demand usually grows at a stable rate, this […]
What 2017 Meant for Potash Producers
Potash fertilizers Most of the fertilizer companies we’ve discussed in this series sell all or some of the three NPK (nitrogen, phosphorous, and potassium) macronutrients. To learn more about these macronutrients’ key role in agriculture, read Agricultural Fertilizer Industry: Your Comprehensive Overview. In this part, we’ll look at what 2017 meant for potash producers. Price trends […]
A Review of Key Agribusiness Companies’ 2017 Sales
Performance comparison In our series Comparative Analysis of Fertilizer Companies’ 3Q17 Earnings, we compared fertilizer companies’ 3Q17 performance. However, as the agriculture business is seasonal, we should also look at annual trends for a complete picture. Year-over-year sales In the above chart, we compare agribusiness companies’ sales over the last 12 months and the year prior. All […]
Could Agribusiness Stocks See Better Times in 2018?
In this series, we’ll discuss agribusiness companies’ weak 2017 performance and key drivers of their low earnings.
Monsanto: Earnings Estimates and Target Price
As of December 25, 2017, Monsanto stock was covered by 18 analysts according to Reuters. The current consensus rating on the stock stood at 2.56.
Are Fertilizers Getting Expensive?
Last week’s upward momentum in the Fertilizer Affordability Index may indicate that fertilizers are getting somewhat expensive.
Potash Price Update for Week Ended December 15
Last week, granular potash prices at NOLA (New Orleans) rose 1.3% to $207 per metric ton from $204 per metric ton a week ago.
MAP Prices Remained Strong in Week Ended December 15
MAP (monoammonium phosphate) prices have shown strength in recent weeks, moving higher to peak at $ $403 per metric ton in Brazil.