Monday, June 14, 2010

JPMorgan (NYSE:JPM) Lowers CF Industries (NYSE:CF) Earnings

Earnings per share was lowered for CF Industries (NYSE:CF) by JPMorgan (NYSE:JPM), citing a decline in margins for nitrogen.

Analysts at JPMorgan said, "We lowered our 2010 EPS estimate to $7.25 versus $8.00 previously to reflect slimmer second-half nitrogen margins. Our 2Q:10 EPS estimate is now $3.25 versus our previous estimate of $3.35. We also trimmed our 2011 EPS projections to $7.00 versus our previous projection of $7.50. We maintain our 2012 EPS projection of $6.00."

CF Industries is rated "Neutral" at this time, with a price target of $65, recently lowered from $73.

CF bought Terra Industries recently, which changed their prior debt-free balance sheet, although that is expected to be taken care of in a relatively short time.

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