Mosaic (NYSE:MOS) Price Target Lowered to $38.00 at Scotiabank

Mosaic (NYSE:MOS) had its target price trimmed by Scotiabank from $40.00 to $38.00 in a research note published on Monday morning, 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.

Several other equities research analysts have also recently weighed in on the stock. Mizuho reduced their price target on shares of Mosaic from $34.00 to $33.00 and set a neutral rating on the stock in a research report on Friday. Royal Bank of Canada reduced their target price on shares of Mosaic from $35.00 to $32.00 and set a sector perform rating on the stock in a report on Monday. Wolfe Research began coverage on Mosaic in a research report on Friday, March 1st. They issued an outperform rating and a $39.00 price target for the company. Wells Fargo & Company lifted their target price on Mosaic from $34.00 to $35.00 and gave the stock an equal weight rating in a report on Friday, February 23rd. Finally, TheStreet lowered Mosaic from a b- rating to a c+ rating in a report on Tuesday, February 6th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Mosaic currently has an average rating of Hold and an average price target of $38.79.

Mosaic Trading Up 1.3 %

Shares of MOS opened at $29.04 on Monday. Mosaic has a 1 year low of $27.83 and a 1 year high of $42.81. The company has a 50 day simple moving average of $31.36 and a two-hundred day simple moving average of $32.97. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.16 and a quick ratio of 0.51. The firm has a market cap of $9.34 billion, a P/E ratio of 12.36 and a beta of 1.51.

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

Mosaic Announces Dividend

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. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.89%. Mosaic’s dividend payout ratio is presently 35.74%.

Institutional Investors Weigh In On Mosaic

A number of hedge funds have recently made changes to their positions in the stock. Invesco Ltd. boosted its stake in Mosaic by 3.2% in the third quarter. Invesco Ltd. now owns 8,792,687 shares of the basic materials company’s stock valued at $313,020,000 after acquiring an additional 268,966 shares in the last quarter. Northern Trust Corp grew its stake in Mosaic by 7.5% during the 3rd quarter. Northern Trust Corp now owns 6,107,545 shares of the basic materials company’s stock worth $217,429,000 after buying an additional 424,063 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Mosaic by 5.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,969,039 shares of the basic materials company’s stock valued at $141,829,000 after buying an additional 189,706 shares in the last quarter. Pacer Advisors Inc. raised its stake in Mosaic by 5.1% in the fourth quarter. Pacer Advisors Inc. now owns 3,824,263 shares of the basic materials company’s stock valued at $136,641,000 after buying an additional 186,337 shares during the last quarter. Finally, Deutsche Bank AG boosted its holdings in Mosaic by 3.6% in the third quarter. Deutsche Bank AG now owns 3,062,975 shares of the basic materials company’s stock worth $109,042,000 after acquiring an additional 107,011 shares in the last quarter. 77.54% of the stock is currently owned by hedge funds and other institutional investors.

Mosaic Company Profile

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.