Mosaic Co. (MOS) Rating Increased to Buy at Zacks Investment Research
Mosaic Co. (NYSE:MOS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The brokerage currently has a $32.00 price objective on the stock.
According to Zacks, “Mosaic’s adjusted earnings and revenues for the third quarter of 2016 topped the respective Zacks Consensus Estimate. Benefits of the company’s cost-cutting actions offset headwinds from lower nutrient prices in the quarter. The company saw higher sales volumes for phosphate and potash in the third quarter. Mosaic should benefit from its efforts to boost production capacity and acquisitions. The company will also gain from improving global demand for fertilizers through second-half 2016. Moreover, Mosaic should gain from its cost reduction measures.”
A number of other brokerages also recently issued reports on MOS. Credit Suisse Group AG restated a “sell” rating and set a $21.00 price target on shares of Mosaic in a report on Wednesday, August 31st. Vertical Research downgraded Mosaic from a “hold” rating to a “sell” rating in a report on Wednesday, August 31st. They noted that the move was a valuation call. Susquehanna downgraded Mosaic from a “positive” rating to a “neutral” rating and reduced their price target for the company from $30.00 to $28.00 in a report on Wednesday, August 17th. Citigroup Inc. boosted their price target on Mosaic from $26.00 to $28.00 and gave the company a “neutral” rating in a report on Thursday, August 4th. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $23.00 price objective on shares of Mosaic in a research report on Wednesday, August 3rd. Nine research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company. Mosaic currently has a consensus rating of “Hold” and an average price target of €26.85 ($28.87).
Shares of Mosaic (NYSE:MOS) opened at 27.21 on Tuesday. Mosaic has a 52 week low of $22.02 and a 52 week high of $32.95. The stock has a 50 day moving average price of $24.89 and a 200 day moving average price of $26.44. The stock has a market capitalization of $9.53 billion, a P/E ratio of 21.68 and a beta of 1.25.
Mosaic (NYSE:MOS) last announced its quarterly earnings results on Tuesday, November 1st. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.23. Mosaic had a return on equity of 3.78% and a net margin of 5.91%. The company had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.92 billion. During the same quarter in the previous year, the business earned $0.62 EPS. Mosaic’s revenue was down 5.0% compared to the same quarter last year. On average, equities research analysts expect that Mosaic will post $0.74 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st will be paid a $0.275 dividend. The ex-dividend date is Tuesday, November 29th. This represents a $1.10 annualized dividend and a dividend yield of 4.04%. Mosaic’s dividend payout ratio (DPR) is 88.00%.
Several large investors have recently bought and sold shares of MOS. Kennedy Capital Management Inc. bought a new stake in Mosaic during the first quarter valued at approximately $2,771,000. National Pension Service raised its stake in Mosaic by 4.4% in the first quarter. National Pension Service now owns 213,374 shares of the company’s stock valued at $5,761,000 after buying an additional 9,067 shares during the period. Legal & General Group Plc raised its stake in Mosaic by 8.3% in the first quarter. Legal & General Group Plc now owns 1,689,610 shares of the company’s stock valued at $45,631,000 after buying an additional 129,090 shares during the period. Envestnet Asset Management Inc. raised its stake in Mosaic by 3.9% in the first quarter. Envestnet Asset Management Inc. now owns 51,210 shares of the company’s stock valued at $1,383,000 after buying an additional 1,915 shares during the period. Finally, Metropolitan Life Insurance Co. NY raised its stake in Mosaic by 2.7% in the first quarter. Metropolitan Life Insurance Co. NY now owns 185,549 shares of the company’s stock valued at $5,010,000 after buying an additional 4,819 shares during the period. Hedge funds and other institutional investors own 88.16% of the company’s stock.
Mosaic Company Profile
The Mosaic Company is a producer and marketer of concentrated phosphate and potash crop nutrients. The Company’s segments include Phosphates, Potash and International Distribution. Its Phosphates Segment sells phosphate-based crop nutrients and animal feed ingredients throughout North America and internationally.
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