AGT FOOD & INGREDIENTS $18.80 (Toronto symbol AGT; TSINetwork Rating: Extra Risk) (604-231-1100; www.agtfoods.com; Shares outstanding: 24.2 million; Market cap: $446.5 million; Dividend yield: 3.2%) continues to be hurt by low worldwide prices for lentils due to bumper crops and a resulting oversupply.
In the quarter ended September 30, 2017, AGT’s sales fell 22.9%, to $340.9 million from $442.3 million. Even so, cash flow remains positive: the company reported cash flow per share of $0.33. Still, that’s half of the $0.66 it generated a year earlier.
Meanwhile, the company is now focused on selling higher profit-margin products such as flour, starch and other ingredients as well as packaged foods. That is helping offset the cyclical nature of pulse sales.
AGT’s dividend, which yields 3.2%, appears safe. However, the company needs prices for lentils and other pulses to rebound before it can report significantly improved results.
AGT Food & Ingredients is now a hold. hold…
Privacy Policy and Terms of Use
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Does TSI Network Use the Information It Receives?
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Changes to this Policy
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