Adecoagro (NYSE:AGRO) Posts Quarterly Earnings Results, Misses Estimates By $0.49 EPS

Adecoagro (NYSE:AGRO) released its quarterly earnings results on Monday. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.49), FiscalAI reports. The company had revenue of $419.45 million during the quarter, compared to analyst estimates of $408.94 million. Adecoagro had a negative net margin of 0.55% and a negative return on equity of 1.17%.

Adecoagro Stock Performance

Shares of AGRO opened at $13.50 on Tuesday. Adecoagro has a 12 month low of $6.89 and a 12 month high of $15.89. The firm has a fifty day simple moving average of $12.98 and a 200 day simple moving average of $9.90. The stock has a market capitalization of $1.92 billion, a price-to-earnings ratio of -168.74 and a beta of -0.04. The company has a current ratio of 1.38, a quick ratio of 0.82 and a debt-to-equity ratio of 0.77.

Adecoagro Announces Dividend

The firm also recently announced a dividend, which will be paid on Tuesday, May 19th. Investors of record on Monday, May 4th will be issued a dividend of $0.1213 per share. The ex-dividend date is Monday, May 4th. This represents a yield of 160.0%. Adecoagro’s dividend payout ratio is presently -300.00%.

Insider Buying and Selling

In related news, CEO Mariano Bosch sold 100,000 shares of the stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $14.50, for a total transaction of $1,450,000.00. Following the completion of the transaction, the chief executive officer owned 897,249 shares in the company, valued at approximately $13,010,110.50. This represents a 10.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 106,815 shares of company stock worth $1,540,799 in the last ninety days.

Institutional Trading of Adecoagro

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Virtu Financial LLC bought a new stake in Adecoagro during the fourth quarter worth $147,000. Tudor Investment Corp ET AL raised its position in Adecoagro by 134.0% during the fourth quarter. Tudor Investment Corp ET AL now owns 88,132 shares of the company’s stock worth $699,000 after acquiring an additional 50,464 shares in the last quarter. Polymer Capital Management US LLC bought a new stake in Adecoagro during the fourth quarter worth $939,000. Quadrature Capital Ltd bought a new stake in Adecoagro during the fourth quarter worth $123,000. Finally, Millennium Management LLC raised its position in Adecoagro by 240.9% during the fourth quarter. Millennium Management LLC now owns 276,376 shares of the company’s stock worth $2,192,000 after acquiring an additional 195,308 shares in the last quarter. 45.25% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on AGRO shares. Wall Street Zen upgraded shares of Adecoagro from a “sell” rating to a “hold” rating in a report on Saturday, April 4th. Zacks Research cut shares of Adecoagro from a “strong-buy” rating to a “hold” rating in a report on Monday, March 9th. UBS Group upgraded shares of Adecoagro from a “neutral” rating to a “buy” rating and upped their price target for the company from $8.00 to $16.20 in a report on Monday, March 30th. Citigroup cut shares of Adecoagro from a “buy” rating to a “neutral” rating and increased their target price for the stock from $13.00 to $15.00 in a report on Tuesday, April 14th. Finally, Weiss Ratings upgraded shares of Adecoagro from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, May 6th. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Adecoagro presently has a consensus rating of “Hold” and an average target price of $11.53.

About Adecoagro

Adecoagro (NYSE: AGRO) is a leading agricultural and renewable energy company with core operations in South America. Founded in 2002 by Argentine entrepreneur Alejandro Bulgheroni, the company has grown into a vertically integrated platform covering crop production, sugar and ethanol manufacturing, and dairy operations. Adecoagro’s business model spans the full value chain, from seed selection and planting through harvesting, processing and distribution of commodities.

The company manages over 700,000 hectares of farmland across Argentina, Brazil and Uruguay.