CF Industries (NYSE:CF) Stock Price Down 6.1% Following Weak Earnings

CF Industries Holdings, Inc. (NYSE:CF) fell 6.1% during mid-day trading on Thursday following a weaker than expected earnings announcement. The company traded as low as $73.13 and last traded at $73.25. 2,040,405 shares changed hands during trading, a decline of 16% from the average session volume of 2,421,529 shares. The stock had previously closed at $77.97.

The basic materials company reported $1.03 earnings per share for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.44). CF Industries had a return on equity of 13.91% and a net margin of 19.03%. The business had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same period in the prior year, the company earned $2.85 earnings per share. The firm’s quarterly revenue was down 26.9% compared to the same quarter last year.

CF Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Wednesday, May 15th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date is Tuesday, May 14th. CF Industries’s payout ratio is presently 33.22%.

Analysts Set New Price Targets

CF has been the topic of a number of recent analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $95.00 price target on shares of CF Industries in a report on Friday, February 16th. Piper Sandler downgraded shares of CF Industries from a “neutral” rating to an “underweight” rating and dropped their price objective for the stock from $87.00 to $82.00 in a report on Thursday, February 29th. UBS Group downgraded shares of CF Industries from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $95.00 to $83.00 in a report on Wednesday, January 31st. Bank of America reissued a “neutral” rating and issued a $88.00 price objective (down previously from $96.00) on shares of CF Industries in a report on Wednesday, April 10th. Finally, Wolfe Research started coverage on shares of CF Industries in a report on Friday, March 1st. They issued an “outperform” rating and a $99.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $85.14.

Insiders Place Their Bets

In other CF Industries news, EVP Bert A. Frost sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $85.00, for a total transaction of $510,000.00. Following the transaction, the executive vice president now owns 64,030 shares of the company’s stock, valued at $5,442,550. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.42% of the company’s stock.

Institutional Investors Weigh In On CF Industries

A number of hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its position in CF Industries by 34.2% in the third quarter. Bank of New York Mellon Corp now owns 5,213,654 shares of the basic materials company’s stock valued at $447,019,000 after purchasing an additional 1,329,677 shares during the period. Northern Trust Corp lifted its position in shares of CF Industries by 4.3% during the 3rd quarter. Northern Trust Corp now owns 3,644,100 shares of the basic materials company’s stock valued at $312,445,000 after acquiring an additional 151,148 shares during the period. Pacer Advisors Inc. lifted its position in shares of CF Industries by 7.1% during the 4th quarter. Pacer Advisors Inc. now owns 3,078,652 shares of the basic materials company’s stock valued at $244,753,000 after acquiring an additional 204,536 shares during the period. First Trust Advisors LP lifted its position in shares of CF Industries by 16.5% during the 4th quarter. First Trust Advisors LP now owns 2,928,039 shares of the basic materials company’s stock valued at $232,779,000 after acquiring an additional 414,785 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of CF Industries by 7.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,862,532 shares of the basic materials company’s stock valued at $227,576,000 after acquiring an additional 203,885 shares during the period. Institutional investors and hedge funds own 93.06% of the company’s stock.

CF Industries Stock Performance

The stock’s 50-day moving average price is $81.59 and its 200-day moving average price is $79.44. The company has a debt-to-equity ratio of 0.35, a quick ratio of 3.44 and a current ratio of 3.81. The company has a market capitalization of $13.91 billion, a price-to-earnings ratio of 12.27, a P/E/G ratio of 2.22 and a beta of 1.02.

CF Industries Company Profile

CF Industries Holdings, Inc, together with its subsidiaries, engages in the manufacture and sale of hydrogen and nitrogen products for energy, fertilizer, emissions abatement, and other industrial activities in North America, Europe, and internationally. It operates through Ammonia, Granular Urea, UAN, AN, and Other segments.