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

Mosaic (NYSE:MOS) had its price target reduced by Scotiabank from $40.00 to $38.00 in a research note released on Monday, Benzinga reports. They currently have 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.

A number of other analysts have also recently commented on 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 research report on Friday, February 23rd. TheStreet downgraded Mosaic from a b- rating to a c+ rating in a report on Tuesday, February 6th. Mizuho cut their target price on shares of Mosaic from $34.00 to $33.00 and set a neutral rating on the stock in a report on Friday. Piper Sandler cut shares of Mosaic from a neutral rating to an underweight rating and decreased their price target for the stock from $42.00 to $32.00 in a research note on Thursday, February 29th. Finally, Wolfe Research initiated coverage on shares of Mosaic in a research note on Friday, March 1st. They issued an outperform rating and a $39.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, Mosaic has an average rating of Hold and an average price target of $38.79.

Mosaic Price Performance

Shares of NYSE MOS opened at $29.04 on Monday. The stock’s 50-day simple moving average is $31.36 and its 200-day simple moving average is $32.97. The firm has a market capitalization of $9.34 billion, a PE ratio of 12.36 and a beta of 1.51. Mosaic has a fifty-two week low of $27.83 and a fifty-two week high of $42.81. 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 released 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). Mosaic had a return on equity of 8.23% and a net margin of 6.07%. The company had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same period in the previous year, the business posted $1.14 EPS. The firm’s revenue for the quarter was down 25.7% compared to the same quarter last year. As a group, equities research analysts forecast that Mosaic will post 2.78 EPS for the current fiscal year.

Mosaic Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, June 6th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date is Thursday, June 6th. Mosaic’s dividend payout ratio is currently 35.74%.

Institutional Investors Weigh In On Mosaic

Several institutional investors have recently modified their holdings of MOS. Commonwealth Equity Services LLC increased its position in shares of Mosaic by 29.9% in the third quarter. Commonwealth Equity Services LLC now owns 94,382 shares of the basic materials company’s stock valued at $3,360,000 after buying an additional 21,706 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its position in Mosaic by 91.4% during the third quarter. Robeco Institutional Asset Management B.V. now owns 62,092 shares of the basic materials company’s stock worth $2,210,000 after acquiring an additional 29,644 shares during the last quarter. IFM Investors Pty Ltd lifted its holdings in shares of Mosaic by 1.2% in the third quarter. IFM Investors Pty Ltd now owns 65,915 shares of the basic materials company’s stock valued at $2,347,000 after purchasing an additional 765 shares in the last quarter. TD Asset Management Inc grew its position in shares of Mosaic by 41.7% in the third quarter. TD Asset Management Inc now owns 319,439 shares of the basic materials company’s stock valued at $11,372,000 after purchasing an additional 94,063 shares during the last quarter. Finally, ING Groep NV increased its stake in shares of Mosaic by 63.7% during the 3rd quarter. ING Groep NV now owns 357,265 shares of the basic materials company’s stock worth $12,719,000 after purchasing an additional 139,045 shares in the last quarter. Hedge funds and other institutional investors own 77.54% of the company’s stock.

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.