|Bid||46.68 x 1200|
|Ask||46.71 x 900|
|Day's range||46.26 - 47.33|
|52-week range||38.90 - 56.51|
|Beta (3Y monthly)||0.85|
|PE ratio (TTM)||34.14|
|Earnings date||30 Jul 2019 - 5 Aug 2019|
|Forward dividend & yield||1.20 (2.58%)|
|1y target est||49.28|
(Bloomberg) -- Abu Dhabi National Oil Co. and chemical producer OCI NV plan to combine their Middle East and North Africa crop-nutrient businesses, creating the region’s fertilizer producer to challenge U.S. and Russian exporters.OCI will merge its ammonia and urea assets in North Africa with Adnoc’s fertilizer complex in the United Arab Emirates, the companies said in a statement Monday. The combined company will have $1.74 billion in annual sales, according to the statement, which confirmed an earlier Bloomberg News report.Shares of OCI were down 2.9% at 12:27 p.m. Monday in Amsterdam, giving the company a market value of about 5 billion euros ($5.6 billion).A global ramp-up in fertilizer output has flooded the market with too much supply, prompting players to explore consolidation to improve economies of scale and global reach. A clampdown on tax inversions scuppered CF Industries Holdings Inc.’s plan to buy OCI’s fertilizer arm in 2016.The formation of the joint venture, which will be 58% owned by OCI, is expected to generate as much as $75 million in annual savings, the companies said. It will be headed by the Dutch firm’s chief executive officer, billionaire Nassef Sawiris.Broadening Economy“It looks like a sensible deal, which should generate commercial synergies and create a stronger export platform for nitrogen fertilizers,” Berenberg analyst Rikin Patel said by email.OCI assets may be valued at around $5 billion, as it deserves a multiple of about 10 times earnings due to its superior efficiency, Patel said. Its Middle East and North Africa business generated about $501 million of adjusted earnings before interest, taxes, depreciation and amortization last year, according to a company presentation.State-owned Adnoc has been expanding its downstream operations and bringing in partners for businesses including its pipeline network and refining unit. It has also listed its distribution unit and agreed in October to sell a 5% stake in its $11 billion drilling business to Baker Hughes. The moves come as the emirate of Abu Dhabi, home to about 6% of the world’s crude reserves, seeks to diversify an economy that’s dependent on oil. Adnoc Fertilizers was set up in 1980 to make urea for agricultural use. It sells its products to local and international markets, including the Indian subcontinent, the U.S., Latin America, Australia and Europe.Growth PotentialOCI owns a plant in Egypt with capacity to produce about 1.65 million metric tons of granular urea per year, according to its latest annual report. It also has a 60% stake in another Egyptian production complex that makes anhydrous ammonia, as well as a trading arm in the United Arab Emirates. OCI’s fertilizer venture in Algeria can produce about 1.6 million metric tons of gross anhydrous ammonia and 1.26 million metric tons of granular urea annually.“This platform has significant potential for future growth and value creation,” Sawiris said in the statement.OCI held talks earlier this year about a potential sale of its methanol assets to Saudi Basic Industries Corp. in a deal that could have valued the business at as much as $4 billion, Bloomberg News reported in March. The Dutch company’s largest shareholder is Sawiris, who is Egypt’s richest person with a fortune of about $6.8 billion, according to the Bloomberg Billionaires Index.The transaction with Adnoc is expected to close in the third quarter of 2019. JPMorgan Chase & Co. advised OCI on the deal, while Adnoc worked with Citigroup Inc.(Updates with analyst comment in sixth paragraph.)\--With assistance from Mahmoud Habboush.To contact the reporters on this story: Andrew Noël in London at email@example.com;Dinesh Nair in London at firstname.lastname@example.org;Aaron Kirchfeld in London at email@example.comTo contact the editors responsible for this story: Ben Scent at firstname.lastname@example.org, Andrew Noël, Amy ThomsonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
CF Industries Holdings, Inc. (NYSE:CF), a large-cap worth US$10.0b, comes to mind for investors seeking a strong and...
CF Industries Holdings, Inc. (CF), today announced that Dennis P. Kelleher, senior vice president and chief financial officer, has informed the company he will retire from CF effective September 1, 2019. Christopher D. Bohn, senior vice president, manufacturing and distribution, has been selected to succeed Kelleher as chief financial officer effective September 1, 2019. “I am grateful for the contributions Dennis has made over the past eight years,” said Tony Will, president and chief executive officer, CF Industries Holdings, Inc. “He has played a significant role in helping drive financial and operational excellence and creating long-term value for our shareholders.
Small-cap and large-cap companies receive a lot of attention from investors, but mid-cap stocks like CF Industries...
TORONTO , May 22, 2019 /PRNewswire/ -- Canaccord Genuity Group Inc. (TSX: CF) is scheduled to release its fourth quarter and fiscal 2019 year-end results and supplementary financial information on Wednesday, ...
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CF Industries Holdings, Inc. today announced that the company will present at the following conferences in May: at 9:10 a.m. ET on Wednesday, May 15, 2019, at the Goldman Sachs Industrial & Materials Conference 2019; at 9:30 a.m.
CF (CF) delivered earnings and revenue surprises of -3.57% and -1.49%, respectively, for the quarter ended March 2019. Do the numbers hold clues to what lies ahead for the stock?
The Deerfield, Illinois-based company said it had net income of 40 cents per share. Earnings, adjusted for pretax gains, were 27 cents per share. The results missed Wall Street expectations. The average ...
Higher Year-Over-Year Urea, UAN and AN Prices Support Increased Margins
CF Industries Holdings, Inc. today reported that its Board of Directors has declared a $0.30 per share dividend on its common stock. The dividend will be payable on May 31, 2019 to stockholders of record as of May 15, 2019.
CF (CF) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
We often see insiders buying up shares in companies that perform well over the long term. The flip side of that is that there are more than a few examples of insiders dumping stock prior to a period of weak performance. So before you...
CF Industries Holdings, Inc. today announced that it will report its first quarter 2019 results after the market close on Wednesday, May 1, 2019. The company plans to host a conference call to discuss these results at 9:00 a.m.
The weeks before Easter are usually some of the busiest of the year for bankers, lawyers and consultants in the City of London, as clients rush to get deals done before a run of public holidays. City workers had been hoping the torpor of the first quarter would be lifted if Britain left the European Union on March 29, or indeed, April 12. The London Stock Exchange has had only one corporate listing in excess of 75 million pounds ($97.61 million) so far this year.
Want to participate in a research study? Help shape the future of investing tools and earn a $60 gift card! Two important questions to ask before you buy CF Industries Holdings, Inc. (NYSE:CF) is, how it makes money and how it spends...
Canaccord Genuity Group Inc on Sunday said it will restructure its capital markets business in the United Kingdom, with uncertainty looming over the country as it prepares to exit from the European Union. The financial services company said the move is expected to result in significant job cuts in its London-based capital markets business. Canaccord Genuity will record a charge of about $12 million in its fourth quarter as part of the process, the company said.
Today we'll look at CF Industries Holdings, Inc. (NYSE:CF) and reflect on its potential as an investment. To be precise, we'll consider its Return On Capital Employed (ROCE), as thatRead More...