Mosaic (NYSE:MOS) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Mosaic (NYSE:MOSGet Rating) announced its earnings results on Monday. The basic materials company reported $2.41 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.40 by $0.01, MarketWatch Earnings reports. Mosaic had a net margin of 13.19% and a return on equity of 18.45%. During the same period in the prior year, the company earned $0.57 earnings per share.

Shares of MOS stock traded down $0.43 during trading hours on Tuesday, reaching $61.97. The stock had a trading volume of 81,021 shares, compared to its average volume of 8,615,564. The stock’s fifty day simple moving average is $64.41 and its 200 day simple moving average is $48.44. The company has a current ratio of 1.11, a quick ratio of 0.54 and a debt-to-equity ratio of 0.31. Mosaic has a 12 month low of $28.26 and a 12 month high of $79.28. The firm has a market capitalization of $22.82 billion, a PE ratio of 14.58, a PEG ratio of 0.73 and a beta of 1.56.

Mosaic declared that its board has approved a share repurchase plan on Tuesday, February 22nd that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the basic materials company to purchase up to 6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

A number of research firms recently issued reports on MOS. BMO Capital Markets upgraded shares of Mosaic from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $37.00 to $50.00 in a report on Friday, January 14th. HSBC downgraded shares of Mosaic from a “buy” rating to a “hold” rating and raised their price objective for the stock from $50.00 to $57.00 in a report on Monday, March 7th. StockNews.com began coverage on shares of Mosaic in a report on Thursday, March 31st. They set a “buy” rating for the company. Berenberg Bank downgraded shares of Mosaic from a “buy” rating to a “hold” rating and set a $50.00 price objective for the company. in a report on Thursday, February 24th. Finally, Royal Bank of Canada boosted their price target on shares of Mosaic from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday, April 21st. Nine equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $63.35.

In other Mosaic news, SVP Corrine D. Ricard sold 17,284 shares of Mosaic stock in a transaction that occurred on Monday, April 18th. The shares were sold at an average price of $76.02, for a total transaction of $1,313,929.68. Following the completion of the sale, the senior vice president now directly owns 45,501 shares in the company, valued at $3,458,986.02. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Walter F. Precourt III sold 9,647 shares of Mosaic stock in a transaction that occurred on Monday, April 18th. The shares were sold at an average price of $78.00, for a total transaction of $752,466.00. Following the sale, the vice president now owns 75,000 shares of the company’s stock, valued at $5,850,000. The disclosure for this sale can be found here. Insiders sold 114,706 shares of company stock valued at $7,385,870 over the last 90 days. 0.57% of the stock is owned by company insiders.

Hedge funds have recently bought and sold shares of the business. Kingsview Wealth Management LLC purchased a new position in shares of Mosaic during the fourth quarter worth approximately $313,000. NEXT Financial Group Inc raised its stake in shares of Mosaic by 552.6% during the fourth quarter. NEXT Financial Group Inc now owns 8,059 shares of the basic materials company’s stock worth $317,000 after acquiring an additional 6,824 shares in the last quarter. Forum Financial Management LP purchased a new position in shares of Mosaic during the fourth quarter worth approximately $339,000. Horizon Investments LLC raised its stake in shares of Mosaic by 48.8% during the fourth quarter. Horizon Investments LLC now owns 11,781 shares of the basic materials company’s stock worth $463,000 after acquiring an additional 3,864 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its stake in shares of Mosaic by 6.8% during the fourth quarter. Thrivent Financial for Lutherans now owns 16,236 shares of the basic materials company’s stock worth $638,000 after acquiring an additional 1,034 shares in the last quarter. 82.54% of the stock is currently owned by hedge funds and other institutional investors.

Mosaic Company Profile (Get Rating)

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.

Further Reading

Earnings History for Mosaic (NYSE:MOS)

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