Cresud S.A.C.I.F. y A. (NASDAQ:CRESY) Reaches New 1-Year High – Here’s Why

Shares of Cresud S.A.C.I.F. y A. (NASDAQ:CRESY) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $13.84 and last traded at $13.8770, with a volume of 97914 shares. The stock had previously closed at $12.77.

Analysts Set New Price Targets

A number of brokerages have commented on CRESY. Weiss Ratings reissued a “hold (c)” rating on shares of Cresud S.A.C.I.F. y A. in a report on Monday, December 29th. Wall Street Zen upgraded Cresud S.A.C.I.F. y A. from a “hold” rating to a “buy” rating in a report on Saturday, January 17th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold”.

Cresud S.A.C.I.F. y A. Price Performance

The company has a market capitalization of $868.09 million, a PE ratio of 6.03 and a beta of 0.93. The company has a current ratio of 1.33, a quick ratio of 1.01 and a debt-to-equity ratio of 0.40. The stock has a fifty day simple moving average of $12.10 and a 200-day simple moving average of $11.03.

Cresud S.A.C.I.F. y A. (NASDAQ:CRESY) last posted its earnings results on Tuesday, November 25th. The company reported $1.29 earnings per share for the quarter. The business had revenue of $230.87 million during the quarter. Cresud S.A.C.I.F. y A. had a return on equity of 8.12% and a net margin of 18.98%.

Cresud S.A.C.I.F. y A. Announces Dividend

The business also recently announced an annual dividend, which was paid on Wednesday, December 10th. Shareholders of record on Friday, November 28th were given a dividend of $0.6293 per share. This represents a dividend yield of 531.0%. The ex-dividend date was Friday, November 28th. Cresud S.A.C.I.F. y A.’s payout ratio is presently 26.75%.

Institutional Investors Weigh In On Cresud S.A.C.I.F. y A.

Several institutional investors have recently modified their holdings of CRESY. Raymond James Financial Inc. purchased a new stake in Cresud S.A.C.I.F. y A. in the 2nd quarter valued at approximately $25,000. Bank of America Corp DE increased its stake in Cresud S.A.C.I.F. y A. by 464.8% in the fourth quarter. Bank of America Corp DE now owns 8,116 shares of the company’s stock valued at $103,000 after purchasing an additional 6,679 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of Cresud S.A.C.I.F. y A. during the 2nd quarter worth about $124,000. PharVision Advisers LLC purchased a new position in Cresud S.A.C.I.F. y A. during the third quarter worth approximately $135,000. Finally, Virtu Financial LLC purchased a new position in shares of Cresud S.A.C.I.F. y A. in the 3rd quarter worth $144,000. Hedge funds and other institutional investors own 12.90% of the company’s stock.

About Cresud S.A.C.I.F. y A.

Cresud SAC.I.F. y A. (NASDAQ:CRESY) is an Argentina-based company primarily engaged in agribusiness and real estate activities. Headquartered in Buenos Aires, Cresud operates through a network of subsidiaries focused on crop production, livestock breeding and sustainability initiatives. The company’s agricultural arm cultivates major row crops such as soybeans, corn and wheat, and maintains a sizeable cattle herd across its extensive landholdings.

In its farming operations, Cresud emphasizes soil management, water resource optimization and technological integration.