AGT FOOD & INGREDIENTS $14.87 (Toronto symbol AGT; TSINetwork Rating: Extra Risk) (604-231-1100; www.agtfoods.com; Shares o/s: 24.2 million; Market cap: $360.4 million; Divd. yield: 4.0%) continues to feel the negative impact of low worldwide prices for lentils. That’s due to bumper crops and the resulting oversupply. India has also brought in new tariffs.
For the quarter ended March 31, 2018, AGT’s sales fell 21.3%, to $394.6 million from $501.5 million a year earlier. The company made $0.18 a share, down 35.7% from $0.28 a year earlier.
A growing part of AGT’s operations has come from selling higher profit-margin products, including packaged foods. That helps to offset the cyclicality of commodity sales.
AGT’s dividend, which yields a high 4.0%, appears safe. However, the company still needs prices for lentils and other pulses to rebound.
AGT Food & Ingredients is a hold. hold…
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