Gleacher & Co. Maintains a 'Neutral' on Mosaic (MOS); Mixed Results on Lower Volumes but Higher Prices; Solid Guidance
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Price: $21.61 -0.78%
Rating Summary:
11 Buy, 20 Hold, 9 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
11 Buy, 20 Hold, 9 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Gleacher & Co. maintains a 'Neutral' on Mosaic (NYSE: MOS).
Gleacher analyst says, "Reflecting robust fertilizer fundamentals, we expect the other fertilizer companies to report strong results in the coming weeks based on MOS' higher realized prices while we believe MOS' lower volumes are company-specific due to some operational issues...For F4Q11, MOS expects phosphate volume of 2.5-2.9Mmt with DAP price of $560-$590/mt (our estimate was 2.60Mmt and $550/mt). Potash volume and price are forecast to be 1.9-2.2Mmt and $385-$415/mt versus our initial estimate of 2.25Mmt and $405/mt. The mid-point of the potash price guidance is $47/mt higher sequentially as recent price increases are gradually being realized. We expect prices to continue moving higher in subsequent quarters on rising offshore prices. The implied EPS range for F4Q11 is $1.25–$1.70 (midpoint of $1.48) versus consensus of $1.35 and our forecast of $1.45."
For more ratings news on Mosaic click here and for the rating history of Mosaic click here.
Shares of Mosaic closed at $80.45 yesterday.
Gleacher analyst says, "Reflecting robust fertilizer fundamentals, we expect the other fertilizer companies to report strong results in the coming weeks based on MOS' higher realized prices while we believe MOS' lower volumes are company-specific due to some operational issues...For F4Q11, MOS expects phosphate volume of 2.5-2.9Mmt with DAP price of $560-$590/mt (our estimate was 2.60Mmt and $550/mt). Potash volume and price are forecast to be 1.9-2.2Mmt and $385-$415/mt versus our initial estimate of 2.25Mmt and $405/mt. The mid-point of the potash price guidance is $47/mt higher sequentially as recent price increases are gradually being realized. We expect prices to continue moving higher in subsequent quarters on rising offshore prices. The implied EPS range for F4Q11 is $1.25–$1.70 (midpoint of $1.48) versus consensus of $1.35 and our forecast of $1.45."
For more ratings news on Mosaic click here and for the rating history of Mosaic click here.
Shares of Mosaic closed at $80.45 yesterday.
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