Mosaic (MOS) Downgraded by Zacks Investment Research to Hold
Zacks Investment Research cut shares of Mosaic (NYSE:MOS) from a buy rating to a hold rating in a report released on Friday morning.
According to Zacks, “Mosaic has outperformed the industry it belongs to over a year. The company is well placed to gain from rising global demand for fertilizers. The Vale Fertilizantes acquisition is also expected to deliver significant synergies. Moreover, Mosaic is expected to benefit from cost reduction actions and capacity expansion. However, Mosaic faces headwind from rail-related logistical issues. Its elevated debt level and higher expected interest expenses are other concerns.”
A number of other equities research analysts have also weighed in on the stock. Barclays assumed coverage on shares of Mosaic in a report on Tuesday. They issued an equal weight rating and a $34.00 price objective for the company. Susquehanna Bancshares boosted their price objective on shares of Mosaic from $33.00 to $40.00 and gave the stock a positive rating in a report on Monday, August 27th. Cowen boosted their price objective on shares of Mosaic from $36.00 to $38.00 and gave the stock an outperform rating in a report on Tuesday, August 14th. Standpoint Research lowered shares of Mosaic from a buy rating to a hold rating in a report on Friday, August 10th. Finally, Citigroup boosted their price objective on shares of Mosaic from $31.00 to $36.00 and gave the stock a neutral rating in a report on Thursday, August 9th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $31.49.
Mosaic (NYSE:MOS) last announced its quarterly earnings data on Monday, August 6th. The basic materials company reported $0.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.02. The firm had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.30 billion. Mosaic had a negative net margin of 1.14% and a positive return on equity of 4.88%. The business’s quarterly revenue was up 25.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.29 EPS. equities research analysts predict that Mosaic will post 1.7 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 20th. Investors of record on Thursday, September 6th will be issued a dividend of $0.025 per share. The ex-dividend date of this dividend is Wednesday, September 5th. This represents a $0.10 dividend on an annualized basis and a yield of 0.33%. Mosaic’s dividend payout ratio is currently 9.17%.
In other news, Director Luciano Siani Pires purchased 2,000 shares of the stock in a transaction that occurred on Thursday, August 16th. The stock was bought at an average cost of $29.68 per share, for a total transaction of $59,360.00. Following the acquisition, the director now directly owns 2,000 shares of the company’s stock, valued at approximately $59,360. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.45% of the company’s stock.
A number of large investors have recently bought and sold shares of MOS. Whittier Trust Co. increased its position in Mosaic by 123.2% during the 2nd quarter. Whittier Trust Co. now owns 3,370 shares of the basic materials company’s stock valued at $167,000 after purchasing an additional 1,860 shares during the period. Piedmont Investment Advisors LLC purchased a new position in Mosaic during the 2nd quarter valued at $115,000. Penserra Capital Management LLC increased its position in Mosaic by 296.8% during the 1st quarter. Penserra Capital Management LLC now owns 4,166 shares of the basic materials company’s stock valued at $107,000 after purchasing an additional 3,116 shares during the period. Point72 Asia Hong Kong Ltd purchased a new position in Mosaic during the 1st quarter valued at $105,000. Finally, Whittier Trust Co. of Nevada Inc. increased its position in Mosaic by 862.7% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 4,390 shares of the basic materials company’s stock valued at $217,000 after purchasing an additional 3,934 shares during the period. Institutional investors own 74.59% of the company’s stock.
Mosaic Company Profile
The Mosaic Company, through its subsidiaries, produces and markets concentrated phosphate and potash crop nutrients worldwide. The company operates through three segments: Phosphates, Potash, and International Distribution. 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.
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