Mosaic (NYSE:MOS) Price Target Cut to $38.00

Mosaic (NYSE:MOS) had its price target trimmed by Scotiabank from $40.00 to $38.00 in a research report sent to investors on Monday, Benzinga reports. The brokerage currently has a sector outperform rating on the basic materials company’s stock. Scotiabank also issued estimates for Mosaic’s Q2 2024 earnings at $0.72 EPS.

MOS has been the subject of several other research reports. Piper Sandler lowered Mosaic from a neutral rating to an underweight rating and decreased their price objective for the stock from $42.00 to $32.00 in a report on Thursday, February 29th. Mizuho dropped their price target on shares of Mosaic from $34.00 to $33.00 and set a neutral rating on the stock in a research note on Friday, May 3rd. TheStreet downgraded Mosaic from a b- rating to a c+ rating in a research report on Tuesday, February 6th. Royal Bank of Canada reduced their price target on Mosaic from $35.00 to $32.00 and set a sector perform rating for the company in a research report on Monday. Finally, Wolfe Research began coverage on Mosaic in a research note on Friday, March 1st. They issued an outperform rating and a $39.00 target price for the company. Two analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Hold and an average price target of $38.57.

Mosaic Stock Performance

Shares of MOS stock opened at $29.57 on Monday. Mosaic has a 52 week low of $27.83 and a 52 week high of $42.81. The firm’s 50-day simple moving average is $31.30 and its two-hundred day simple moving average is $32.91. The firm has a market cap of $9.51 billion, a price-to-earnings ratio of 12.58 and a beta of 1.51. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.51 and a current ratio of 1.16.

Mosaic (NYSE:MOS) last posted its quarterly earnings data on Wednesday, May 1st. The basic materials company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.01). Mosaic had a net margin of 6.07% and a return on equity of 8.23%. The firm had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.88 billion. During the same quarter in the previous year, the company posted $1.14 EPS. Mosaic’s revenue for the quarter was down 25.7% on a year-over-year basis. As a group, equities analysts forecast that Mosaic will post 2.78 earnings per share for the current year.

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 issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date of this dividend is Thursday, June 6th. Mosaic’s payout ratio is 35.74%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MOS. State Board of Administration of Florida Retirement System lifted its stake in Mosaic by 12.5% during the first quarter. State Board of Administration of Florida Retirement System now owns 420,549 shares of the basic materials company’s stock worth $13,651,000 after purchasing an additional 46,721 shares during the last quarter. Everence Capital Management Inc. lifted its position in Mosaic by 124.5% in the 1st quarter. Everence Capital Management Inc. now owns 22,700 shares of the basic materials company’s stock worth $737,000 after buying an additional 12,590 shares during the last quarter. Edmond DE Rothschild Holding S.A. boosted its stake in Mosaic by 81.6% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 690,000 shares of the basic materials company’s stock worth $22,397,000 after buying an additional 310,000 shares in the last quarter. Cozad Asset Management Inc. grew its position in Mosaic by 45.3% during the first quarter. Cozad Asset Management Inc. now owns 49,992 shares of the basic materials company’s stock valued at $1,623,000 after acquiring an additional 15,592 shares during the last quarter. Finally, Bleakley Financial Group LLC raised its stake in shares of Mosaic by 181.9% during the first quarter. Bleakley Financial Group LLC now owns 184,206 shares of the basic materials company’s stock worth $5,979,000 after acquiring an additional 118,857 shares in the last quarter. 77.54% of the stock is currently owned by hedge funds and other institutional investors.

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.