NEW YORK (TheStreet) -- Shares of Potash (POT) were largely flat in late-morning trading on Thursday after the company posted better-than-anticipated results for the 2016 third quarter, but gave a disappointing outlook.

Before the opening bell, the Canadian fertilizer producer posted adjusted earnings of 11 cents per share on revenue of $1.14 billion. Analysts had expected earnings of 9 cents per share on revenue of $1.04 billion.

For 2016, Potash sees earnings per share between 40 cents and 45 cents, while analysts are looking for 51 cents per share.

In September, the company agreed to merge with agricultural product company Agrium (AGU) in a $36 billion deal.

Shareholders of Potash and Agrium are poised to overwhelmingly approve the transaction, Reuters reports, citing a source.

Roughly 99% of the votes from both groups of shareholders are in favor of the merger, the source added.

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"The support expressed by shareholders has been very encouraging, with early vote results overwhelmingly in favor of the merger and positive recommendations from leading independent proxy advisory firms ISS and Glass Lewis," Potash CEO Jochen Tilk said in a statement earlier today.

Shares of Agrium were higher late this morning.

Separately, TheStreet Ratings Team has a "Hold" rating with a score of C on Potash stock.

The primary factors that have impacted the rating are mixed. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures and expanding profit margins.

But the team also finds weaknesses including feeble growth in the company's earnings per share, deteriorating net income and disappointing return on equity.

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

You can view the full analysis from the report here: POT

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