Industrial company, Potash Corp./Saskatchewan(POT) has reported that they are expecting lower profit for the third quarter.
Potash has announced that the company’s outlook for 2012 has been lowered, and earnings are expected to come in lower than previously expected.
The company had previously predicted earnings to be lower than expected with a range of $2.80 to $3.20 per share. The street had predicted earnings of $3.34 per share. For the third quarter, the company expects EPS to be at the low end of $0.70 – $0.90 range The consensus currently predicts EPS of 83 cents.
Potash shares were down 78 cents, or 1.87% during premarket trading Wednesday.
The Bottom Line
Shares of Potash Corp (POT) have a 2.02% dividend yield, based on last night’s closing stock price of $41.60. The stock has technical support in the $38 price area. If the shares can firm up, we see overhead resistance around the $44-$46 price levels.
Potash Corp./Saskatchewan(POT) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.2 out of 5 stars.