Q2 2024 Earnings Forecast for The Mosaic Company (NYSE:MOS) Issued By Scotiabank

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

A number of other brokerages have also issued reports on MOS. Wolfe Research initiated coverage on Mosaic in a report on Friday, March 1st. They set an “outperform” rating and a $39.00 target price for the company. Mizuho decreased their target price on shares of Mosaic from $34.00 to $33.00 and set a “neutral” rating for the company in a report on Friday. The Goldman Sachs Group cut their price target on shares of Mosaic from $54.00 to $48.00 and set a “buy” rating on the stock in a report on Thursday, February 1st. Piper Sandler cut shares of Mosaic from a “neutral” rating to an “underweight” rating and lowered their price objective for the stock from $42.00 to $32.00 in a research report on Thursday, February 29th. Finally, Royal Bank of Canada reduced their target price on Mosaic from $35.00 to $32.00 and set a “sector perform” rating for the company in a report on Monday. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Mosaic currently has a consensus rating of “Hold” and a consensus price target of $38.79.

Mosaic Price Performance

NYSE MOS opened at $29.04 on Tuesday. The stock has a market capitalization of $9.34 billion, a P/E ratio of 12.36 and a beta of 1.51. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.51 and a current ratio of 1.16. The business’s fifty day moving average is $31.36 and its two-hundred day moving average is $32.97. Mosaic has a 1 year low of $27.83 and a 1 year high of $42.81.

Mosaic (NYSE:MOS) last announced its quarterly earnings data on Wednesday, May 1st. The basic materials company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.01). The business had revenue of $2.68 billion during 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 revenue for the quarter was down 25.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.14 EPS.

Mosaic Dividend Announcement

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

Hedge Funds Weigh In On Mosaic

A number of hedge funds have recently added to or reduced their stakes in MOS. AustralianSuper Pty Ltd boosted its holdings in Mosaic by 23.1% in the fourth quarter. AustralianSuper Pty Ltd now owns 2,083,150 shares of the basic materials company’s stock worth $74,431,000 after purchasing an additional 391,191 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of Mosaic by 3,212.6% during the 4th quarter. International Assets Investment Management LLC now owns 240,200 shares of the basic materials company’s stock valued at $8,582,000 after acquiring an additional 232,949 shares during the last quarter. Sapient Capital LLC bought a new position in shares of Mosaic in the 4th quarter valued at approximately $2,300,000. Oak Thistle LLC boosted its position in Mosaic by 13.1% during the fourth quarter. Oak Thistle LLC now owns 40,136 shares of the basic materials company’s stock worth $1,434,000 after purchasing an additional 4,658 shares during the period. Finally, First American Trust FSB acquired a new position in Mosaic during the fourth quarter valued at approximately $2,613,000. Institutional investors and hedge funds own 77.54% of the company’s stock.

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.