Fertilizer makers Mosaic (MOS), Nutrien (NTR) and Intrepid Potash (IPI) reported better-than-expected first-quarter earnings late Monday, with. MOS inventory fell in late buying and selling. NTR inventory edged and IPI inventory was not but lively after each closed close to purchase factors.
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With corn and soybean costs surging, and the farm economic system having fun with a sudden growth, these agricultural shares have been having fun with their very own progress spurts. IBD’s Chemical-Agricultural trade group is ranked within the high tier, No. 31 out of 197 based mostly on value efficiency and momentum.
The earnings parade continues Tuesday morning, when agricultural commodities provider Bunge (BG) reviews. Insecticide and herbicide big producer FMC (FMC) and nitrogen fertilizer pure-play CF Industries (CF) report late Wednesday. FMC inventory and CF inventory are close to purchase vary.
For an in-depth take a look at the outlook for these agricultural shares, take a look at this April 30 Industry Snapshot, Five Agriculture Stocks Outrunning The Market As Corn Prices Rally.
Mosaic Earnings
Estimates: Mosaic earnings have been anticipated to surge to 50 cents a share vs. a year-ago lack of 6 cents, in line with Zacks Investment Research. Revenue was seen rising 29% to $2.31 billion.
Results: Mosaic earnings got here in at 57 cents a share with income rising to $2.37 billion.
MOS inventory is rated No. 1 within the Agricultural-Chemicals group with a superlative 99 IBD Composite Rating, which mixes technical and elementary elements right into a single rating. IBD Research exhibits the very best inventory market winners typically have an IBD Composite Rating of 95 or larger initially of their massive strikes.
Mosaic inventory retreated 3.8% in prolonged commerce. MOS inventory dipped 0.4% on Monday to 35.04, holding round its mid-March degree.
MOS inventory continues to behave constructively following its pullback after operating up as excessive as 35.20 on March 18. The current five-week consolidation is not fairly lengthy sufficient to think about 35.30, 10 cents above the March excessive, a correct entry level. Investors might nonetheless use that as an entry, although MOS inventory is getting a long way vs. the 10-week line.
Alternatively, Mosaic inventory might pullback or pause, forming a brand new shopping for alternative that means.
Nutrien Earnings
Estimates: Nutrien earnings per share are anticipated to come back in at 9 cents vs. a year-ago lack of 12 cents. Revenue was seen rising 11% to $4.64 billion.
Results: Nutrien earnings stepped as much as 29 cents a share. Revenue climbed 11% to $4.66 billion.
Outlook: Nutrien raised its full-year EPS steering to $2.55-$3.25 vs. its February steering of $2.05-$2.75.
Nutrien inventory: NTR inventory edged up 0.5% in late commerce. Nutrien inventory closed up 1.4% to 55.96 on Monday, again above its 50-day line. That lifted the fertilizer inventory to inside 6% of a 59.87 purchase level in a seven-week flat base. A transfer above final Thursday’s excessive of 57.50 might provide an early entry from the 50-day.
Intrepid Potash Earnings
Estimates: Intrepid Potash was anticipated to report EPS of 13 cents vs. a year-ago lack of 20 cents. Revenue was anticipated to fall 9% to $58.1 million.
Results: Intrepid Potash earnings jumped to 18 cents a share with gross sales up practically 12% to $71.46 million.
Intrepid inventory: IPI inventory was quiet in preliminary after-hours commerce. Interpid inventory jumped 4.1% on Monday to 33.49, rebounding from its 50-day line. That’s nonetheless 14% beneath a 39.29 purchase level, 10 cents above the highest of the consolidation since March 18, in line with MarketSmith analysis. Investors might purchase IPI inventory off the 50-day line, particularly if it will get above final week’s excessive of 34.49, as an early entry.
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