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Mosaic (MOS) Stock Jumps 7.7%: Will It Continue to Soar?
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Mosaic (MOS - Free Report) shares ended the last trading session 7.7% higher at $62.19. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 28.9% gain over the past four weeks.
Mosaic sustained its rally on the back of an upswing in fertilizer prices. An analyst from Piper Sandler & Co. also raised the stock’s target price to $80. Per the analyst, grain farmers have been operating at record or near-record capacity for many years. They have not significantly improved inventories, which could drive an extended period of constructive grain pricing. He also stated that the longer-term outlook for grains is positive amid shorter-term disruptions. The farmers witnessed considerably higher fertilizer prices in this harvest season.
This fertilizer maker is expected to post quarterly earnings of $2.42 per share in its upcoming report, which represents a year-over-year change of +324.6%. Revenues are expected to be $4.13 billion, up 79.7% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Mosaic, the consensus EPS estimate for the quarter has been revised 13.2% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on MOS going forward to see if this recent jump can turn into more strength down the road.
Mosaic belongs to the Zacks Fertilizers industry. Another stock from the same industry, Scotts Miracle-Gro (SMG - Free Report) , closed the last trading session 1.8% lower at $117.52. Over the past month, SMG has returned -12.1%.
Scotts' consensus EPS estimate for the upcoming report has changed -1.8% over the past month to $4.73. Compared to the company's year-ago EPS, this represents a change of -16.1%. Scotts currently boasts a Zacks Rank of #3 (Hold).
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Mosaic (MOS) Stock Jumps 7.7%: Will It Continue to Soar?
Mosaic (MOS - Free Report) shares ended the last trading session 7.7% higher at $62.19. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 28.9% gain over the past four weeks.
Mosaic sustained its rally on the back of an upswing in fertilizer prices. An analyst from Piper Sandler & Co. also raised the stock’s target price to $80. Per the analyst, grain farmers have been operating at record or near-record capacity for many years. They have not significantly improved inventories, which could drive an extended period of constructive grain pricing. He also stated that the longer-term outlook for grains is positive amid shorter-term disruptions. The farmers witnessed considerably higher fertilizer prices in this harvest season.
This fertilizer maker is expected to post quarterly earnings of $2.42 per share in its upcoming report, which represents a year-over-year change of +324.6%. Revenues are expected to be $4.13 billion, up 79.7% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Mosaic, the consensus EPS estimate for the quarter has been revised 13.2% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on MOS going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Mosaic belongs to the Zacks Fertilizers industry. Another stock from the same industry, Scotts Miracle-Gro (SMG - Free Report) , closed the last trading session 1.8% lower at $117.52. Over the past month, SMG has returned -12.1%.
Scotts' consensus EPS estimate for the upcoming report has changed -1.8% over the past month to $4.73. Compared to the company's year-ago EPS, this represents a change of -16.1%. Scotts currently boasts a Zacks Rank of #3 (Hold).