Bookmark and Share

Monsanto Shares Rose as Company Raises Full Year Forecast (MON)

Shares of Monsanto Company (NYSE: MON), provider of agricultural products for farmers, are gaining in trading today after the St. Louis, Missouri-based company raised its full-year earnings outlook. The company also forecast stronger-than-expected fiscal third-quarter profit.

MON shares rose to an intra-day high of $77.35 in trading today, and at last check, the stock was trading 2.26% higher at $76.43 on above average volume of 7.86 million.

Monsanto’s CEO Hugh Grant said that with greater clarity on the U.S. and European planting seasons, it is clear that MON’s performance reflects an even greater component of business strength and momentum versus timing.

Monsanto said that it would exceed its preliminary U.S. sales targets for its high-end corn seed. The company also noted that premium soybean seed sales would be at the high end of its forecast range. Monsanto, which is the world’s largest seed company, also said that strong performance in the seed and trait business was complemented by higher-than-expected sales in the herbicide business and lawn and garden segment.

Speaking at an investor conference in New York, CEO Grant said that Monsanto expects continued earnings growth next year.

For the fiscal year 2012, MON expects earnings per share to come in between $3.65 and $3.70. This compares with previous forecast of $3.49-$3.54 per share. For the third quarter, the company expects earnings to come in between $1.57 per share and $1.62 per share, compared with Street estimates of $1.29 per share.


Leave a Reply




You can use these HTML tags

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

All stories in are for informational purposes only. This is NOT a stock recommendation. This story is a daily light analysis featuring a stock with insider buying. With some caveats, insiders purchase a stock because they think the stock is going up. There are other factors to consider such as size of the transaction relative to their compensation and net worth. Sometimes, insiders might be propping a stock price up for future financing. Sometimes, the amount of insider buying are misread or misreported. Each month, DailyStocks releases a a summary of the stocks with insider buying. Sign up for the free monthly newsletter at . About is the place where you can find stories about stocks with insider buying, where you can educate yourself about stock market investing, and where you can perform the stock search engine analysis – you enter a stock symbol, and you get a resulting page of stock ticker indexed links so that you do not have to type the stock symbol each time.