Mosaic (NYSE:MOS) Hits New 1-Year Low on Disappointing Earnings

The Mosaic Company (NYSE:MOS) shares reached a new 52-week low during mid-day trading on Thursday following a weaker than expected earnings announcement. The stock traded as low as $27.93 and last traded at $28.11, with a volume of 2500327 shares traded. The stock had previously closed at $29.93.

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 8.19% and a net margin of 6.07%. The business’s revenue for the quarter was down 25.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.14 earnings per share.

Mosaic Dividend Announcement

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 paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date of this dividend is Thursday, June 6th. Mosaic’s dividend payout ratio (DPR) is presently 35.74%.

Analyst Upgrades and Downgrades

MOS has been the topic of a number of recent research reports. TheStreet downgraded Mosaic from a “b-” rating to a “c+” rating in a research note on Tuesday, February 6th. Scotiabank raised Mosaic from a “sector perform” rating to a “sector outperform” rating and set a $40.00 target price for the company in a research report on Thursday, February 22nd. Piper Sandler lowered shares of Mosaic from a “neutral” rating to an “underweight” rating and dropped their price target for the company from $42.00 to $32.00 in a research report on Thursday, February 29th. Wells Fargo & Company upped their price objective on shares of Mosaic from $34.00 to $35.00 and gave the stock an “equal weight” rating in a report on Friday, February 23rd. Finally, Wolfe Research assumed coverage on shares of Mosaic in a report on Friday, March 1st. They issued an “outperform” rating and a $39.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Mosaic has an average rating of “Hold” and a consensus target price of $40.20.

Institutional Investors Weigh In On Mosaic

Several hedge funds have recently made changes to their positions in the stock. Denali Advisors LLC increased its stake in Mosaic by 100.5% during the fourth quarter. Denali Advisors LLC now owns 826 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 414 shares during the period. Mather Group LLC. bought a new stake in shares of Mosaic in the 1st quarter worth approximately $40,000. Fidelis Capital Partners LLC acquired a new stake in shares of Mosaic during the 1st quarter worth approximately $50,000. Janiczek Wealth Management LLC increased its position in shares of Mosaic by 28.0% during the fourth quarter. Janiczek Wealth Management LLC now owns 1,455 shares of the basic materials company’s stock valued at $52,000 after purchasing an additional 318 shares during the period. Finally, Exchange Traded Concepts LLC raised its stake in shares of Mosaic by 526.1% in the third quarter. Exchange Traded Concepts LLC now owns 1,534 shares of the basic materials company’s stock valued at $55,000 after purchasing an additional 1,289 shares in the last quarter. Institutional investors own 77.54% of the company’s stock.

Mosaic Stock Performance

The company has a quick ratio of 0.57, a current ratio of 1.22 and a debt-to-equity ratio of 0.26. The firm has a 50-day moving average of $31.41 and a 200 day moving average of $33.08. The stock has a market capitalization of $9.23 billion, a P/E ratio of 12.20, a PEG ratio of 1.54 and a beta of 1.51.

About Mosaic

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.