Another 52-week Low for Monsanto Company Shares (GS, MON)

Monsanto Co (NYSE:MON) shares hit a new 52-week low today of $44.76 before recovering to $45.12.  The Street continues to look away from Monsanto as its shares have dropped 66% since summer 2008, however Goldman Sachs (NYSE:GS) believes there is some hope.

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Over the past 12 months Monsanto (MON)shares have traded between today's new low of $44.76 and its peak at $87.28.  Monsanto Co (MON) shares are now trading with a P/E Ratio of 18.93 and EPS of 2.3.  Monsanto is still paying a 26 cent dividend which works out to a 2.35% yield.

Monsanto shares continue to fold after reporting last week that net sales decreased $199 million, or 6%, in the three-month comparison and $1,296 million, or 13%, in the nine-month comparison. This decline was primarily a result of decreased sales of ROUNDUP and other glyphosate-based herbicides in the United States and Europe. Net income in the first nine months of 2010 was $2.27 per share, compared with $4.21 per share in the prior-year comparable period.

Just about everyone believes this company is going to continue to struggle, but then there's Goldman Sachs (NYSE:GS) which still has a 12-month price target of $65 a share on the company.  Analysts from Goldman wrote this, "...following MON's earnings conference call and conversations with management and investors, we are confident now is the ideal time to buy this stock." Also they asserted that "despite strategic missteps and abysmal stock performance, MON remains the most discussed chemical stock. Following such a traumatic period, the arrival of any positive data should drive a robust recovery in the share price."

Monsanto shares closed the day at $45.12, down -3.05% or $-1.42 and volume finished at 9,844,710 shares traded.