An issue of CF Industries Holdings, Inc. (NYSE:CF) debt rose 1.2% against its face value during trading on Thursday following a weaker than expected earnings announcement. The high-yield issue of debt has a 5.15% coupon and will mature on March 15, 2034. The bonds in the issue are now trading at $101.56 and were trading at $100.00 last week. Price changes in a company’s debt in credit markets often anticipate parallel changes in its stock price. The basic materials company reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.04). The business had revenue of $870.00 million for the quarter, compared to the consensus estimate of $733.63 million. CF Industries Holdings had a negative return on equity of 2.29% and a negative net margin of 10.95%. CF Industries Holdings’s revenue for the quarter was up 27.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.13 EPS.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Wednesday, November 15th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $1.20 dividend on an annualized basis and a yield of 3.11%. CF Industries Holdings’s dividend payout ratio is presently -65.57%.
A number of brokerages have recently issued reports on CF. BMO Capital Markets increased their price target on shares of CF Industries Holdings from $38.00 to $43.00 and gave the stock a “market perform” rating in a report on Friday. Royal Bank Of Canada increased their price target on shares of CF Industries Holdings from $27.00 to $32.00 and gave the stock an “underperform” rating in a report on Friday. Zacks Investment Research raised shares of CF Industries Holdings from a “hold” rating to a “buy” rating and set a $42.00 price target on the stock in a report on Wednesday, October 25th. HSBC Holdings plc began coverage on shares of CF Industries Holdings in a report on Wednesday, October 11th. They issued a “hold” rating and a $36.30 price target on the stock. Finally, Piper Jaffray Companies set a $28.00 price target on shares of CF Industries Holdings and gave the stock a “hold” rating in a report on Friday, October 6th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. CF Industries Holdings currently has an average rating of “Hold” and a consensus price target of $34.52.
In other CF Industries Holdings news, VP Bert A. Frost sold 6,400 shares of the stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $31.53, for a total transaction of $201,792.00. Following the transaction, the vice president now directly owns 59,732 shares in the company, valued at $1,883,349.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.00% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in CF Industries Holdings by 2.2% during the second quarter. Vanguard Group Inc. now owns 24,160,218 shares of the basic materials company’s stock valued at $675,520,000 after acquiring an additional 523,655 shares during the last quarter. Capital World Investors grew its position in CF Industries Holdings by 21.4% during the second quarter. Capital World Investors now owns 15,203,728 shares of the basic materials company’s stock valued at $425,096,000 after acquiring an additional 2,675,809 shares during the last quarter. Dimensional Fund Advisors LP grew its position in CF Industries Holdings by 3.0% during the second quarter. Dimensional Fund Advisors LP now owns 3,888,875 shares of the basic materials company’s stock valued at $108,724,000 after acquiring an additional 114,534 shares during the last quarter. Tyrus Capital S.A.M. grew its position in CF Industries Holdings by 7.8% during the second quarter. Tyrus Capital S.A.M. now owns 2,815,000 shares of the basic materials company’s stock valued at $78,707,000 after acquiring an additional 204,885 shares during the last quarter. Finally, Glendon Capital Management LP grew its holdings in shares of CF Industries Holdings by 14.3% in the second quarter. Glendon Capital Management LP now owns 2,619,751 shares of the basic materials company’s stock worth $73,248,000 after purchasing an additional 327,600 shares during the last quarter.
The company has a debt-to-equity ratio of 0.80, a current ratio of 1.71 and a quick ratio of 1.63.
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About CF Industries Holdings
CF Industries Holdings, Inc manufactures and distributes nitrogen fertilizer, and other nitrogen products. The Company’s nitrogen fertilizer products are ammonia, granular urea, urea ammonium nitrate solution (UAN) and ammonium nitrate (AN). Its other nitrogen products include diesel exhaust fluid (DEF), urea liquor, nitric acid and aqua ammonia, which are sold primarily to the Company’s industrial customers, and compound fertilizer products (nitrogen, phosphorus and potassium or NPKs).
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