CF Industries Holdings, Inc. (CF - Free Report) announced that it has restarted its ammonia plants at the Donaldsonville Complex in Louisiana. This will be followed by the start-up of product upgrade plants including urea, nitric acid and urea ammonium nitrate.
CF Industries safely shut down all production units at the facility on Aug 28, 2021, to prevent impacts from Hurricane Ida. Shipping will continue on an as available basis.
Shares of CF Industries have gained 35.5% in the past year compared with a 49% rise of the industry.
CF Industries, in its last earnings call, stated that it expects nitrogen pricing to be positive as higher economic activities, the need to replenish coarse grains stocks globally and increased energy prices in Europe and Asia are expected to sustain a tighter global nitrogen supply as well as demand balance into 2023.
The global demand for nitrogen is also strong, the company noted. It expects strong global demand for coarse grains to contribute to sustained low global stocks into 2022, supporting strong nitrogen demand in the upcoming years. An increase in economic activities has also contributed to higher industrial consumption of nitrogen products.
Zacks Rank & Key Picks
CF Industries currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space are Nucor Corporation (NUE - Free Report) , Dow Inc. (DOW - Free Report) and Cabot Corporation (CBT - Free Report) .
Nucor has a projected earnings growth rate of around 478.7% for the current year. The company’s shares have soared 140.2% in a year. It currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Dow has an expected earnings growth rate of around 403% for the current year. The company’s shares have gained 20.6% in the past year. It currently carries a Zacks Rank #2 (Buy).
Cabot has an expected earnings growth rate of around 138.5% for the current fiscal. The company’s shares have rallied 31.6% in the past year. It currently carries a Zacks Rank #2.
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CF Industries Holdings, Inc. (CF - Free Report) announced that it has restarted its ammonia plants at the Donaldsonville Complex in Louisiana. This will be followed by the start-up of product upgrade plants including urea, nitric acid and urea ammonium nitrate.
CF Industries safely shut down all production units at the facility on Aug 28, 2021, to prevent impacts from Hurricane Ida. Shipping will continue on an as available basis.
Shares of CF Industries have gained 35.5% in the past year compared with a 49% rise of the industry.
CF Industries, in its last earnings call, stated that it expects nitrogen pricing to be positive as higher economic activities, the need to replenish coarse grains stocks globally and increased energy prices in Europe and Asia are expected to sustain a tighter global nitrogen supply as well as demand balance into 2023.
The global demand for nitrogen is also strong, the company noted. It expects strong global demand for coarse grains to contribute to sustained low global stocks into 2022, supporting strong nitrogen demand in the upcoming years. An increase in economic activities has also contributed to higher industrial consumption of nitrogen products.
Zacks Rank & Key Picks
CF Industries currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space are Nucor Corporation (NUE - Free Report) , Dow Inc. (DOW - Free Report) and Cabot Corporation (CBT - Free Report) .
Nucor has a projected earnings growth rate of around 478.7% for the current year. The company’s shares have soared 140.2% in a year. It currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Dow has an expected earnings growth rate of around 403% for the current year. The company’s shares have gained 20.6% in the past year. It currently carries a Zacks Rank #2 (Buy).
Cabot has an expected earnings growth rate of around 138.5% for the current fiscal. The company’s shares have rallied 31.6% in the past year. It currently carries a Zacks Rank #2.
Zacks Naming Top 10 Stocks for 2024
Want to be tipped off early to our 10 top picks for the entirety of 2024?
History suggests their performance could be sensational.
From 2012 (when our Director of Research, Sheraz Mian assumed responsibility for the portfolio) through November, 2023, the Zacks Top 10 Stocks gained +974.1%, nearly TRIPLING the S&P 500’s +340.1%. Now Sheraz is combing through 4,400 companies to handpick the best 10 tickers to buy and hold in 2024. Don’t miss your chance to get in on these stocks when they’re released on January 2.
Be First to New Top 10 Stocks >>
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