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Saint Louis based Monsanto (), a leading seed company, announced a strong second quarter profit. In fact, the earnings release showed profit more than doubled from the previous year's second quarter. The news was inspiring to and many investors added the company to their . Some analysts noted the company's 2008 earnings forecast in their lists of .
Monsanto earned $1. 13 billion during the quarter which ended February 29, or $2. 02 per share. This was up from $543 million or 98 cents per share from the previous year's second quarter. A strong 45% surge in revenue, from $2. 6 billion to $3. 8 billion was a big contributor to the company's growth. Corn seed, one no rx confido of the company's leading products, saw $1. 7 billion in quarter revenue, up from $1. 2 billion the year before.
The most inspiring news for long-term strategies was the fact that the earnings smashed analyst expectations of $1. 72 per share. The 30 cent per share throttling gave the as traders had been conditioned to expect somewhat less from the earnings report.
Monsanto forecast 2008 earnings of $3. 15 to $3. 25. This was very similar to the $3. 20 forecast by analysts. Some traders using long-term strategies with the company might have used the similar annual outlook as a reason to look to or with the stock. While the earnings forecast appears impressive, it implies Monsanto thinks things could slow the rest of the year compared to analysts. The stock was down slightly following the announcement.
In the last several days since the announcement, long strategies have kicked back in as the stock has spiked to a current position just shy of $120. One year target estimates place the stock at $139. 45. Combined with the 70 cents per share annual dividend currently offered by the company, Monsanto seems like a good addition to a .
Motley Fool, a leading company, recently noted Monsanto as one of its leading stock steals. They noted its strong price-to-earnings ratio as reason for investors to take advantage of its current price position.
Monsanto is trading near the top end of its 52-week price trading range. In the past year, the company has peaked at $129. 28, and reached a low of $56. 75. The broad range from the low to the high suggests much for the stock. Traders seem to be very high on the stock with its current performance. No rx confido
the scrutiny over its $3. 15-3. 25 per share expected earnings for 2008 show just how much the stock market expects from the company.
The good news about the seed industry is that it is important around the world, even in down economic situations. Monsanto has seen strong growth globally, but unlike many companies, it has also seen excellent sales growth in the US.
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