Why Mosaic Stock Crashed Despite a 50% Dividend Hike
Mosaic (NYSE: MOS) stock crashed Tuesday morning, trading down by 9.4% as of 2:30 p.m. EDT after the agriculture company's third-quarter earnings failed to impress Wall Street. Even a massive dividend increase couldn't pacify the market.
You'll want to look beyond the headlines if you own Mosaic shares, though.
On Monday morning, Citi analyst P.J. Juvekar downgraded his rating on Mosaic stock with a price target of $46 a share just ahead of the company's earnings release, citing the stock's lofty valuation. Juvekar, though, still projected a strong Q3 report and robust performance in 2022 from Mosaic.
Source Fool.com