Company Overview and News
My investment colleague and I have been following Intrepid Potash's (IPI) journey for over a year. We posted an early article when the stock was priced for bankruptcy and shares were trading around $1.09. It has since hit a new 52-week high above $5 a share, then fell to down to $3.30 after the latest earnings report, which we noted was actually a strong quarter for the company.
On May 15, CF Industries (CF) received price target upgrades from two major investment firms. Stifel Nicolaus raised its price target to $43 from $37, and Morgan Stanley raised its price target to $37 from $24. CF Industries and Mosaic (MOS) are the two largest fertilizer companies, producing nitrogen and phosphate fertilizers, respectively. Looking at their drivers for growth could offer insights into the recent upgrades.
Fairfax Financial’s largest five stakes are BlackBerry, Resolute Forest Products, Kennedy-Wilson, USG, and Intrepid Potash. They together account for ~85% of the US long assets.
Intrepid Potash (IPI) reported its earnings on April 24 before the market opened. The company reported EPS (earnings per share) of $0.01, missing the analyst estimate of $0.02 per share. The stock closed at $4.09 and is trading almost 1.4% lower since the company reported its earnings.
With earnings for most of the agribusiness stocks (MOO) behind us, it’s time to look at how analysts’ ratings and price targets for some of those companies have changed in light of new information from earnings and management guidance. But before that, let’s look at how some of the agribusiness stocks have performed so far.
Kennedy-Wilson Holdings, Inc. (NYSE:KW) has 196 institutional investors and shareholders that have filed 13D/G or 13F forms with the Securities Exchange Commission (SEC). These institutions hold a total of 136,955,790 shares. Largest shareholders include Fairfax Financial Holdings Ltd/ Can, Vanguard Group Inc, BlackRock Inc., Wellington Management Group LLP, Franklin Resources Inc, Soros Fund Management Llc, Elkhorn Partners Limited Partnership, TimesSquare Capital Management, LLC, Fiduciary Management Inc /wi/, and Goldman Sachs Group Inc.
Last week (ended May 4) was broadly positive for the agribusiness sector. The VanEck Vectors Agribusiness ETF (MOO) rose 27 basis points, and the broader-market S&P 500 (SPY) rose 57 basis points.
Mosaic’s (MOS) sales primarily come from three segments: Phosphates, Potash, and International Distribution. The International Distribution segment sales come from potash and phosphate sales in countries such as Brazil, India, Paraguay, and China. Let’s look at sales estimates for the upcoming quarter and beyond.
Mosaic (MOS) plans to announce its 1Q18 earnings on May 7 after the market closes. The stock has had a positive run so far this year with a YTD (year-to-date) gain of 5.3%, outperforming Nutrien (NTR), CVR Partners (UAN), and CF Industries (CF).
CF Industries (CF) reported its 1Q18 earnings on May 2, after the market closed. The company reported EPS (earnings per share) of $0.27, beating analysts’ estimate of $0.26 and its 1Q17 EPS of -$0.10.
In the week ending April 27, the VanEck Vectors Agribusiness ETF (MOO) ended broadly higher by 50 basis points, while the S&P 500 Index (SPY) was almost flat last week. Most of the fertilizer stocks ended in positive territory.
In the earlier part of this series, we discussed how CF Industries’ (CF) EPS (earnings per shares) are estimated to rise in the upcoming 1Q18 and for fiscal 2018. To understand the source of this EPS growth, let’s look at the sales growth estimates.
CF Industries (CF) is expected to announce its earnings on May 2. As of April 25, analysts have a median EPS (earnings per share) estimate of $0.26, an increase from the company’s EPS of $0.05 per share in 1Q17.
12h - Asif
Overview Anthera Pharmaceuticals, Inc. is a biopharmaceutical company focused on advancing the development and commercialization of innovative medicines that benefit patients with unmet medical needs. The company currently have two compounds in development, Sollpura and blisibimod. The company licensed Sollpura from Eli Lilly & Co (“Eli Lilly”) in July 2014. Sollpura is a novel non-porcine investigational Pancreatic Enzyme Replacement Therapy (“PERT”) intended for the treatment of patients with Exocrine Pancreatic Insufficiency (“EPI”), often seen in patients with cystic fibrosis and other conditions. The company licensed blisibimod from Amgen, Inc. (“Amgen”) in December 2007. Blisibimod targets B-cell activating factor, or BAFF, which has been shown to be elevated in a variety of B-cell mediated autoimmune diseases, including Immunoglobulin A nephropathy, or IgA nephropathy. Sollpura The exocrine pancreas is responsible for synthesis and secretion of digestive en...
12h - Asif
Business Agenus is a clinical-stage immuno-oncology (“I-O”) company dedicated to becoming a leader in the discovery and development of innovative combination therapies and committed to bringing effective medicines to patients with cancer. The company's business is designed to drive success in I-O through speed, innovation, and effective combination therapies. Agenus has assembled fully integrated capabilities from novel target discovery, antibody generation, cell line development, and good manufacturing practice (“GMP”) manufacturing together with a comprehensive portfolio consisting of antibody-based therapeutics, adjuvants and cancer vaccine platforms. The company leverage its immune biology platforms to identify effective combination therapies for development and have developed productive partnerships to advance its innovation. The company believe the next generation of cancer treatment will build on clinically validated antibodies targeting CTLA-4 and PD-1 combined wi...
22h - Asif
Business The company started Square in February 2009 to enable businesses (sellers) to accept card payments, an important capability that was previously inaccessible to many businesses. However, sellers also need innovative solutions to thrive, and Square has since expanded to provide additional products and services to give these businesses access to the same tools as large businesses. This approach aligns with its purpose of economic empowerment, as everything the company do should give sellers accessible, affordable tools to grow their businesses and participate in the economy. Square is a cohesive commerce ecosystem that helps its sellers start, run, and grow their businesses. The company combine sophisticated software with affordable hardware to enable sellers to turn mobile and computing devices into powerful payment and point-of-sale solutions. Square has high seller acceptance rates and fast onboarding, while maintaining low risk and fraud losses as a result of its a...
as of ET