Mosaic (NYSE:MOS) Trading Down 9.4% Following Weak Earnings

The Mosaic Company (NYSE:MOS)’s stock price was down 9.4% during mid-day trading on Tuesday after the company announced weaker than expected quarterly earnings. The company traded as low as $25.30 and last traded at $25.39. Approximately 3,689,670 shares traded hands during mid-day trading, a decline of 15% from the average daily volume of 4,337,994 shares. The stock had previously closed at $28.03.

The basic materials company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.24). The firm had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $3.17 billion. Mosaic had a net margin of 3.24% and a return on equity of 6.00%. The company’s revenue was down 20.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.68 EPS.

Mosaic Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be paid a dividend of $0.21 per share. The ex-dividend date is Thursday, December 5th. This represents a $0.84 dividend on an annualized basis and a yield of 3.19%. Mosaic’s dividend payout ratio (DPR) is currently 74.34%.

Analyst Ratings Changes

Several research analysts recently issued reports on MOS shares. Mizuho lifted their target price on Mosaic from $28.00 to $29.00 and gave the company a “neutral” rating in a research report on Wednesday. Wells Fargo & Company dropped their target price on shares of Mosaic from $29.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Tuesday, September 24th. Barclays decreased their price target on Mosaic from $32.00 to $30.00 and set an “overweight” rating for the company in a research report on Friday, October 11th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $30.00 target price on shares of Mosaic in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $33.22.

Hedge Funds Weigh In On Mosaic

A number of institutional investors have recently added to or reduced their stakes in the business. Auxier Asset Management increased its position in shares of Mosaic by 2.3% in the third quarter. Auxier Asset Management now owns 61,960 shares of the basic materials company’s stock worth $1,659,000 after purchasing an additional 1,365 shares during the last quarter. Northwest & Ethical Investments L.P. grew its stake in Mosaic by 2.1% in the 3rd quarter. Northwest & Ethical Investments L.P. now owns 50,168 shares of the basic materials company’s stock worth $1,343,000 after buying an additional 1,034 shares in the last quarter. Public Sector Pension Investment Board increased its holdings in shares of Mosaic by 8.0% in the 3rd quarter. Public Sector Pension Investment Board now owns 13,463 shares of the basic materials company’s stock worth $361,000 after buying an additional 1,000 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Mosaic by 1.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 173,133 shares of the basic materials company’s stock valued at $4,637,000 after buying an additional 2,653 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Mosaic during the 3rd quarter worth $1,251,000. 77.54% of the stock is currently owned by institutional investors.

Mosaic Price Performance

The company has a market capitalization of $8.39 billion, a PE ratio of 23.29, a price-to-earnings-growth ratio of 1.62 and a beta of 1.35. The company has a quick ratio of 0.54, a current ratio of 1.19 and a debt-to-equity ratio of 0.27. The firm’s 50-day moving average is $26.37 and its 200-day moving average is $27.96.

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.