Agricultural company, Monsanto Company(MON) reported an increase in profits, beating estimates on Tuesday.
The St. Louis, MO based company reported first quarter earnings of $339 million, or 63 cents per share, up 63% from last years earnings of $126 million, or 23 cents per share. Excluding special items, EPS was reported at 62 cents for the quarter, beating analysts estimates of 37 cents.
Revenue was reported at $2.94 billion for the quarter, up from $2.44 last year, and beating analysts expectation of $2.64 billion.
Looking ahead, the company is expecting FY2013 EPS to be in the range of $4.31 to $4.41. Analysts are expecting EPS to be $4.43.
Monsanto shares were up $3.82, or 3.98% during premarket trading Tuesday. The stock has increased 24% in the past year.
The Bottom Line
Shares of Monsanto (MON) have a 1.56% dividend yield, based on last night’s closing stock price of $95.94. The stock has technical support in the $89-$90 price area. If the shares can firm up, we see overhead resistance around the $97-$100 price levels.
Monsanto Company(MON) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.