Agrium Under Pressure Ahead of its Quarterly Earnings

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Agrium Under Pressure Ahead of its Quarterly Earnings

Published on Tuesday, 07 February 2012 11:27 Written by Christopher Lynn

NYSE:AGU New York, February 7^th (TradersHuddle.com) – Shares of Agrium (NYSE: AGU) were falling 1.28% to $81.95, as participants were adjusting positions ahead of the company reporting quarterly results tomorrow before the opening bell.

On average analysts expect earnings of $2 per share on revenues of $3.1 billion. Last quarter the company posted a 4% downside surprise, as it earned $1.85 per share. The highest earnings estimate is $2.26 per share, while last year earnings for the same period were $1.1 per share.

Agrium has jumped more than 22% since the start of the year, breaking above its calculated resistance at $81. Last month, Agrium was upgraded to Outperform from Market Perform at BMO Capital and Bank of America Merrill reinstated its coverage on the stock with a Buy.

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