For Immediate Release
Chicago, IL – January 6, 2012 – Zacks Equity Research highlights
AGCO Corporation (AGCO) as the Bull of the Day and
Urban Outfitters (URBN) as the Bear of the Day. In
addition, Zacks Equity Research provides analysis on
Monsanto Company (MON), Syngenta
AG (SYT) and The Dow Chemical Company
(DOW).
Full analysis of all these stocks is available at
http://at.zacks.com/?id=2678.
Here is a synopsis of all five stocks:
Bull of the Day:
Driven by strong global demand for agricultural equipment,
AGCO Corporation (AGCO) reported third quarter EPS
of $0.87 versus $0.66 in the year-earlier quarter, surpassing the
Zacks Consensus Estimate of $0.75. For fiscal 2011, AGCO expects
EPS of $4.30.
Global industry sales are anticipated to grow in 2011. With a
full product line of farm equipment and a wide network of dealers
and distributors, we believe AGCO is well positioned over the long
term to capitalize on the need for increased food production, which
is being driven by worldwide population growth.
Moreover, the company is also looking to expand operations in
high-growth emerging markets, which bode well for future operating
performance. We maintain our Outperform recommendation with a
target price of $51.00, based on a P/E of 11.7 and our fiscal 2011
earnings estimate.
Bear of the Day:
We are initiating the coverage on Urban
Outfitters (URBN) with an Underperform recommendation.
Despite registering growth of 6.3% in the top line, the company's
third-quarter 2012 earnings of $0.33 per share fell 23.3% from the
prior-year quarter due to the rise in cost of sales and SG&A
expenses.
The company's inventory level, which rose 27%, remains a matter
of concern. The company, in order to clear its inventory, is
selling the slow-moving stock of women's clothing at increased
markdowns, which in turn, is weighing upon margins. Its gross
margin contracted 571 basis points to 35.4% during the quarter.
Management now expects the fourth quarter gross margin to be
lower than the third quarter. Fashion obsolescence remains the key
issue for the company's business model. In the past, this has
weighed down on the company s comparable-store sales and operating
margins. The company is presently inflicted with the same fashion
risk.
Latest Posts on the Zacks Analyst Blog:
Monsanto Beats, Guides High
Monsanto Company (MON) posted a strong
financial result in the first quarter of fiscal 2012 with an EPS
(excluding restructuring expense) of 23 cents, breezing past a
meager 2 cents recorded a year ago. The result exceeded the Zacks
Consensus Estimate of 19 cents.
The company generated revenues of $2,439 million, up from $1,836
million registered in the year-ago quarter. The revenue exceeded
the Zacks Consensus Estimate of $2,034 million based on improved
sales in the growing Latin America market.
Outlook
Management affirmed its free cash flow guidance for fiscal 2012
in the range of $1.3 billion to $1.5 billion, reflecting an
investment of $600 to $700 million in capital
expenditures.
For fiscal 2012, the company expects net cash provided by
operating activities to be $2.2 billion to $2.5 billion, and net
cash required by investing activities to be approximately
$900 million to $1 billion.
The company guided high on full-year 2012 ongoing EPS, expecting
to achieve $3.39 to $3.44 of ongoing and as-reported EPS.
Going forward, a strong US Order book coupled with a pipeline of
advanced R&D appears to add momentum to the stock.
During early December 2011, Monsanto Company declared a
quarterly dividend on its common stock of $0.30 per share. The
dividend will be payable on January 27, 2012 to shareowners of
record as of January 6, 2012.
Monsanto Company is a leading global provider of agricultural
products for farmers, operating in Seeds and Genomics and
Agricultural Productivity segments. Monsanto’s biotechnology
research and innovations position it as a market leader above its
peers, such as Syngenta AG (SYT) and The
Dow Chemical Company (DOW).
We currently maintain a long-term Outperform recommendation on
the stock. Monsanto has a Zacks #2 Rank, which translates into a
short-term Buy rating (1-3 months).
Get the full analysis of all these stocks by going to
http://at.zacks.com/?id=2649.
About the Bull and Bear of the Day
Every day, the analysts at Zacks Equity Research select two
stocks that are likely to outperform (Bull) or underperform (Bear)
the markets over the next 3-6 months.
About the Analyst Blog
Updated throughout every trading day, the Analyst Blog provides
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events impacting stocks and the financial markets.
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AGCO CORP (AGCO): Free Stock Analysis Report
DOW CHEMICAL (DOW): Free Stock Analysis Report
MONSANTO CO-NEW (MON): Free Stock Analysis Report
SYNGENTA AG-ADR (SYT): Free Stock Analysis Report
URBAN OUTFITTER (URBN): Free Stock Analysis Report
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