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

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

A number of other research firms have also weighed in on CF. BMO Capital Markets raised their price objective on CF Industries from $95.00 to $100.00 and gave the company an outperform rating in a research report on Friday. UBS Group raised their price target on CF Industries from $78.00 to $80.00 and gave the company a neutral rating in a report on Thursday, August 8th. Berenberg Bank raised their price objective on shares of CF Industries from $68.00 to $69.00 and gave the company a hold rating in a research note on Wednesday, April 17th. Piper Sandler dropped their price target on shares of CF Industries from $82.00 to $75.00 and set an underweight rating on the stock in a report on Tuesday, May 7th. Finally, Wells Fargo & Company reduced their price objective on CF Industries from $87.00 to $83.00 and set an overweight rating for the company in a research report on Tuesday, July 16th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $85.55.

CF Industries Stock Down 0.5 %

Shares of NYSE CF opened at $80.43 on Monday. The company has a market cap of $14.70 billion, a price-to-earnings ratio of 13.43, a PEG ratio of 2.44 and a beta of 0.95. 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 firm’s fifty day moving average is $73.94 and its 200 day moving average is $77.51. 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 earnings results on Wednesday, August 7th. The basic materials company reported $2.30 EPS for the quarter, beating analysts’ consensus estimates of $1.80 by $0.50. CF Industries had a net margin of 19.03% and a return on equity of 14.08%. The firm had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter in the previous year, the business posted $2.70 EPS. The company’s quarterly revenue was down 11.4% on a year-over-year basis. On average, equities research analysts expect that CF Industries will post 5.18 earnings per share for the current year.

CF Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Thursday, August 15th will be issued a dividend of $0.50 per share. The ex-dividend date is Thursday, August 15th. This represents a $2.00 annualized dividend and a yield of 2.49%. CF Industries’s payout ratio is 33.22%.

Institutional Investors Weigh In On CF Industries

Several hedge funds and other institutional investors have recently modified their holdings of CF. Duality Advisers LP raised its holdings in CF Industries by 189.3% in the fourth quarter. Duality Advisers LP now owns 23,713 shares of the basic materials company’s stock worth $1,885,000 after purchasing an additional 15,517 shares in the last quarter. Allianz Asset Management GmbH increased its position in shares of CF Industries by 7.4% during the fourth quarter. Allianz Asset Management GmbH now owns 590,213 shares of the basic materials company’s stock worth $46,922,000 after purchasing an additional 40,721 shares in the last quarter. Councilmark Asset Management LLC purchased a new stake in shares of CF Industries during the 1st quarter valued at $1,251,000. Franklin Resources Inc. boosted its position in shares of CF Industries by 44.4% in the 4th quarter. Franklin Resources Inc. now owns 394,403 shares of the basic materials company’s stock worth $31,355,000 after purchasing an additional 121,272 shares in the last quarter. Finally, Hsbc Holdings PLC grew its stake in CF Industries by 9.7% during the 4th quarter. Hsbc Holdings PLC now owns 458,297 shares of the basic materials company’s stock worth $36,400,000 after buying an additional 40,396 shares during the last quarter. 93.06% of the stock is currently owned by hedge funds and other institutional investors.

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.