Scotiabank Comments on The Mosaic Company’s Q2 2024 Earnings (NYSE:MOS)

The Mosaic Company (NYSE:MOS) – Scotiabank issued their Q2 2024 earnings per share (EPS) estimates for Mosaic in a report released on Monday, May 6th. Scotiabank analyst B. Isaacson anticipates that the basic materials company will earn $0.72 per share for the quarter. Scotiabank currently has a “Sector Outperform” rating and a $38.00 price objective on the stock. The consensus estimate for Mosaic’s current full-year earnings is $2.78 per share.

Mosaic (NYSE:MOS) last announced its earnings results 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). The company had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.88 billion. Mosaic had a return on equity of 8.23% and a net margin of 6.07%. The business’s quarterly revenue was down 25.7% on a year-over-year basis. During the same quarter last year, the business posted $1.14 earnings per share.

Several other research firms also recently issued reports on MOS. TheStreet downgraded Mosaic from a “b-” rating to a “c+” rating in a research note on Tuesday, February 6th. Piper Sandler lowered Mosaic from a “neutral” rating to an “underweight” rating and dropped their target price for the company from $42.00 to $32.00 in a research report on Thursday, February 29th. Wells Fargo & Company boosted their target price on Mosaic from $34.00 to $35.00 and gave the company an “equal weight” rating in a research note on Friday, February 23rd. Royal Bank of Canada lowered their price objective on shares of Mosaic from $35.00 to $32.00 and set a “sector perform” rating on the stock in a report on Monday. Finally, Wolfe Research began coverage on shares of Mosaic in a report on Friday, March 1st. They set an “outperform” rating and a $39.00 target price for the company. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $38.79.

Mosaic Trading Up 1.3 %

Shares of NYSE:MOS opened at $29.04 on Tuesday. The firm has a market cap of $9.34 billion, a price-to-earnings ratio of 12.36 and a beta of 1.51. Mosaic has a 12 month low of $27.83 and a 12 month high of $42.81. The company’s fifty day simple moving average is $31.36 and its 200 day simple moving average is $32.97. The company has a quick ratio of 0.51, a current ratio of 1.16 and a debt-to-equity ratio of 0.26.

Institutional Investors Weigh In On Mosaic

A number of hedge funds and other institutional investors have recently modified their holdings of MOS. Denali Advisors LLC increased its position in Mosaic by 100.5% during the fourth quarter. Denali Advisors LLC now owns 826 shares of the basic materials company’s stock worth $30,000 after acquiring an additional 414 shares during the period. Mather Group LLC. bought a new position in shares of Mosaic during the first quarter worth approximately $40,000. Fidelis Capital Partners LLC acquired a new stake in shares of Mosaic in the first quarter valued at approximately $50,000. Janiczek Wealth Management LLC boosted its stake in shares of Mosaic by 28.0% in the fourth quarter. Janiczek Wealth Management LLC now owns 1,455 shares of the basic materials company’s stock valued at $52,000 after buying an additional 318 shares during the period. Finally, NBC Securities Inc. acquired a new stake in Mosaic during the third quarter worth approximately $57,000. Institutional investors and hedge funds own 77.54% of the company’s stock.

Mosaic Dividend Announcement

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

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.