Cosan (NYSE:CSAN) Issues Earnings Results

Cosan (NYSE:CSAN) issued its quarterly earnings results on Monday. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.17), Zacks reports. The company had revenue of $1.74 billion for the quarter, compared to analyst estimates of $7.51 billion. Cosan had a negative return on equity of 36.85% and a negative net margin of 32.24%.

Cosan Stock Performance

CSAN traded down $0.10 during trading on Wednesday, hitting $4.66. 581,239 shares of the company’s stock were exchanged, compared to its average volume of 2,248,963. Cosan has a fifty-two week low of $3.71 and a fifty-two week high of $6.25. The business’s 50 day moving average is $4.43 and its two-hundred day moving average is $4.59. The company has a debt-to-equity ratio of 2.01, a quick ratio of 1.65 and a current ratio of 1.80.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CSAN. Weiss Ratings reiterated a “sell (d)” rating on shares of Cosan in a report on Wednesday, January 21st. Wall Street Zen cut shares of Cosan from a “buy” rating to a “hold” rating in a research report on Saturday, December 27th. The Goldman Sachs Group dropped their price target on shares of Cosan from $5.00 to $4.50 and set a “neutral” rating for the company in a research note on Monday, December 1st. Finally, HSBC set a $5.00 price target on shares of Cosan in a report on Friday, December 5th. Three research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $4.75.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CSAN. Caitong International Asset Management Co. Ltd purchased a new stake in Cosan in the fourth quarter worth $46,000. Boothbay Fund Management LLC purchased a new position in shares of Cosan during the 4th quarter valued at $55,000. EFG International AG purchased a new position in shares of Cosan during the 4th quarter valued at $79,000. Russell Investments Group Ltd. bought a new position in shares of Cosan during the 2nd quarter worth $109,000. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in Cosan in the 4th quarter worth about $132,000.

Cosan Company Profile

Cosan Limited (NYSE: CSAN) is a Brazilian diversified energy and logistics group focused on agribusiness, fuels, and infrastructure. Its core activities include the cultivation of sugarcane, production of ethanol and sugar, generation of bioelectricity from bagasse, and distribution of fuels under the Raízen joint venture with Shell. Through its subsidiary Moove, Cosan is a leading global producer of base oils and lubricants, while Comgás serves as one of Brazil’s largest natural gas distributors.

Founded in 1936 in the state of São Paulo, Cosan has grown through organic expansion and strategic acquisitions.