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Stock Update: Monsanto Company (NYSE:MON) – Monsanto to cut additional 1,000 jobs, bringing total planned job cuts to 3,600

[Reuters] – Monsanto Co plans to cut an additional 1,000 employees worldwide, bringing its total planned job cuts to 3,600 or about 16 percent of the company’s global workforce, according to a filing Wednesday with the federal Securities and Exchange Commission. The job cuts, which are just part of this plan, will vary from country to country, and are expected to continue through fiscal 2018, the company said. Read more on this. Monsanto Company (MON) , valued at $41.83B, started the session at $95.48. Looking at the stock, its one day range is $93.75 to $97.30 and has traded between $81.22 and $126.00 over the past 12 months. Priced at 18.49x this year’s forecasted earnings, MON shares are relatively inexpensive compared to the industry’s 23.18x forward p/e ratio. The company pays shareholders $2.16 per share annually in dividends, yielding 2.19%. Consensus earnings for the current quarter by the 19 sell-side analysts covering the stock is an estimate of $-0.23 per share, which would be $0.47 better than the year-ago quarter and a $0.11 sequential increase. What we find to be interesting is that the full-year EPS estimate of $5.26 is a $0.47 setback when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $2.39 Billion. If reported, that would be a 16.72% decrease over the year-ago quarter. Recently, Bernstein Initiated MON at Underperform (Sep 11, 2015). Previously, Wells Fargo downgraded MON from Outperform to Market Perform. The average price target for MON shares is $107.42, which is 12.51% above where the stock opened this morning. See more in (NYSE:MON) Similar Articles: Stock Update: Monsanto Company (NYSE:MON) – Monsanto Company Sets Webcasts for Biennial Investor Event Stock Update: Monsanto Company (NYSE:MON) – U.S. farm, consumer groups aim to block Monsanto bid for Syngenta Company Update: Monsanto Company (NYSE:MON) – Monsanto president tells farmers nothing to fear in Syngenta deal
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