Mosaic (NYSE:MOS) Sets New 52-Week Low After Earnings Miss

The Mosaic Company (NYSE:MOS)’s stock price hit a new 52-week low during mid-day trading on Thursday after the company announced weaker than expected quarterly earnings. The stock traded as low as $27.93 and last traded at $28.11, with a volume of 2500327 shares changing hands. The stock had previously closed at $29.93.

The basic materials company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). The business had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.88 billion. Mosaic had a net margin of 6.07% and a return on equity of 8.19%. Mosaic’s revenue for the quarter was down 25.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.14 earnings per share.

Mosaic Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, June 6th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.93%. The ex-dividend date of this dividend is Thursday, June 6th. Mosaic’s payout ratio is 35.74%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Piper Sandler lowered Mosaic from a “neutral” rating to an “underweight” rating and cut their target price for the company from $42.00 to $32.00 in a research note on Thursday, February 29th. The Goldman Sachs Group cut their price objective on shares of Mosaic from $54.00 to $48.00 and set a “buy” rating on the stock in a research report on Thursday, February 1st. Wells Fargo & Company increased their target price on shares of Mosaic from $34.00 to $35.00 and gave the company an “equal weight” rating in a research report on Friday, February 23rd. Wolfe Research assumed coverage on shares of Mosaic in a report on Friday, March 1st. They issued an “outperform” rating and a $39.00 price target on the stock. Finally, TheStreet lowered Mosaic from a “b-” rating to a “c+” rating in a report on Tuesday, February 6th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $40.20.

Hedge Funds Weigh In On Mosaic

A number of institutional investors have recently modified their holdings of the stock. Denali Advisors LLC lifted its holdings in Mosaic by 100.5% in the fourth quarter. Denali Advisors LLC now owns 826 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 414 shares during the period. Mather Group LLC. acquired a new position in shares of Mosaic in the 1st quarter valued at $40,000. Fidelis Capital Partners LLC purchased a new stake in Mosaic during the first quarter worth $50,000. Janiczek Wealth Management LLC grew its position in Mosaic by 28.0% during the fourth quarter. Janiczek Wealth Management LLC now owns 1,455 shares of the basic materials company’s stock valued at $52,000 after buying an additional 318 shares during the period. Finally, Exchange Traded Concepts LLC increased its holdings in Mosaic by 526.1% in the third quarter. Exchange Traded Concepts LLC now owns 1,534 shares of the basic materials company’s stock valued at $55,000 after buying an additional 1,289 shares in the last quarter. Hedge funds and other institutional investors own 77.54% of the company’s stock.

Mosaic Stock Performance

The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.57 and a current ratio of 1.22. The firm has a market capitalization of $9.23 billion, a PE ratio of 12.20, a price-to-earnings-growth ratio of 1.54 and a beta of 1.51. The firm’s 50 day moving average price is $31.41 and its 200-day moving average price is $33.08.

About Mosaic

The Mosaic Company, through its subsidiaries, produces and markets concentrated phosphate and potash crop nutrients in North America and internationally. The company operates through three segments: Phosphates, Potash, and Mosaic Fertilizantes. It owns and operates mines, which produce concentrated phosphate crop nutrients, such as diammonium phosphate, monoammonium phosphate, and ammoniated phosphate products; and phosphate-based animal feed ingredients primarily under the Biofos and Nexfos brand names, as well as produces a double sulfate of potash magnesia product under K-Mag brand name.