CF Industries (NYSE:CF) Posts Earnings Results, Misses Estimates By $0.90 EPS

CF Industries (NYSE:CF) announced its earnings results on Wednesday. The basic materials company reported $4.73 earnings per share for the quarter, missing analysts’ consensus estimates of $5.63 by ($0.90), FiscalAI reports. The company had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.45 billion. CF Industries had a net margin of 27.12% and a return on equity of 25.19%. The company’s revenue for the quarter was up 17.6% on a year-over-year basis. During the same period in the previous year, the firm posted $2.37 EPS.

CF Industries Price Performance

Shares of CF stock traded down $1.23 on Friday, reaching $115.50. The company’s stock had a trading volume of 787,460 shares, compared to its average volume of 3,458,551. The stock’s fifty day simple moving average is $114.17 and its 200-day simple moving average is $113.60. CF Industries has a 1 year low of $75.42 and a 1 year high of $141.96. The company has a market capitalization of $17.74 billion, a price-to-earnings ratio of 8.57 and a beta of 0.39. The company has a current ratio of 3.54, a quick ratio of 3.15 and a debt-to-equity ratio of 0.39.

CF Industries Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Friday, August 14th will be given a dividend of $0.60 per share. The ex-dividend date is Friday, August 14th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.1%. This is an increase from CF Industries’s previous quarterly dividend of $0.50. CF Industries’s dividend payout ratio is currently 17.97%.

Institutional Trading of CF Industries

Several hedge funds have recently made changes to their positions in CF. MUFG Securities EMEA plc purchased a new position in CF Industries in the second quarter worth about $44,000. Geneos Wealth Management Inc. lifted its stake in shares of CF Industries by 141.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 790 shares of the basic materials company’s stock valued at $62,000 after purchasing an additional 463 shares during the last quarter. Sunbelt Securities Inc. boosted its holdings in shares of CF Industries by 201.7% in the 4th quarter. Sunbelt Securities Inc. now owns 899 shares of the basic materials company’s stock worth $70,000 after purchasing an additional 601 shares during the period. AlphaCentric Advisors LLC bought a new position in shares of CF Industries during the 4th quarter valued at approximately $79,000. Finally, Transamerica Financial Advisors LLC raised its holdings in CF Industries by 73.2% during the 4th quarter. Transamerica Financial Advisors LLC now owns 1,157 shares of the basic materials company’s stock valued at $89,000 after buying an additional 489 shares during the period. 93.06% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Berenberg Bank increased their price objective on shares of CF Industries from $86.00 to $106.00 and gave the company a “hold” rating in a research report on Thursday, May 28th. Freedom Capital raised shares of CF Industries from a “hold” rating to a “strong-buy” rating in a report on Monday, May 18th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of CF Industries in a report on Monday, June 29th. BMO Capital Markets decreased their price target on CF Industries from $140.00 to $135.00 and set an “outperform” rating on the stock in a report on Tuesday, June 30th. Finally, The Goldman Sachs Group dropped their price objective on CF Industries from $133.00 to $115.00 and set a “neutral” rating for the company in a research note on Tuesday, June 23rd. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, CF Industries currently has an average rating of “Hold” and a consensus target price of $116.25.

About CF Industries

CF Industries Holdings, Inc is a leading global manufacturer of hydrogen and nitrogen products for agricultural and industrial customers. The company specializes in the production of ammonia, granular urea, urea ammonium nitrate (UAN), nitric acid and ammonium nitrate, which serve as key inputs for fertilizer blends, industrial chemicals and other downstream applications.

Headquartered in Deerfield, Illinois, CF Industries operates production facilities and distribution terminals across North America and the United Kingdom.