Agrium Reports Mixed 3Q; We Maintain Our $127 FVE
Agrium reported mixed third-quarter results, as increased retail EBITDA was partially offset by continued weakness in the wholesale business from low fertilizer prices. With our long-term outlook for continued growth in the retail business unchanged, we maintain our $127 per share fair value estimate, which assumes the merger with PotashCorp closes at the end of 2017. Our CAD fair value estimate increases to CAD 162 per share from CAD 158 because of recent strengthening of the U.S. dollar agains...Agriumis a retailer of agricultural products and services in the U.S., Canada, Australia, Argentina, Brazil, Chile and Uruguay and a producer and wholesale marketer of nutrients for agricultural and industrial markets. Co. reported its business through two business units, Retail, which operates in North and South America and Australia, providing crop inputs and services directly to farmers; and Wholesale, which operates in North and South America and Europe, and produces, markets and distributes all major crop nutrients for agricultural and industrial customers both domestically and around the world.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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