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Monsanto shares were trading below $79 a share earlieer Thursday morning, but later inched closerd to Wednesday’s market close of $79.88 a Monsanto closed Tuesday at $84.78 a share. “Wer believe that Monsanto shares will probablytreade water,” Jeffrey Zekauskas, a analyst, wrote in a note to investors Thursday morning. Monsanto said earnings for its year, which ends Aug. 31, will be $4.400 a share, Monsanto’s largest business, insect- and herbicide-resistantt seeds, remains strong and is expected to delive r gross profitof $4.4 billion to $4.5 billionm for the year. Roundup, however, is expectesd to Roundup came off patenyt nineyears ago, and Dow and are competitors.
But the Chinesee also have jumped in and have beenundercuttingb prices. “The company has been adamant in its public statementxs that there is a floor to Rounduop gross profitsat $1.9 billion,” Zekauskaws wrote. “However, glyphosate is a and the glyphosate operationearnef $650 million in grossx profit as late as 2006. As yet ther e is no clear intellectual underpinning as to the reasonsz forthe $1.
9 billion gross profit number representing a Hugh Grant, Monsanto chairman, president and chief executive, said in a statement Wednesday, “With the seedzs and traits side of the business accelerating, our managemenr team is focusing on how best to managee our Roundup operations in a way that optimizes returnsa at a lower percentage of overallp revenue.” A week ago, on May 21, Monsantol shares closed at $89.29. The 52-week high was $145.8p June 18, and the low was $63.4u Nov. 21.
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