Cosan (NYSE:CSAN) Posts Quarterly Earnings Results, Misses Expectations By $0.17 EPS

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

Cosan Trading Down 0.9%

Shares of Cosan stock traded down $0.05 on Wednesday, reaching $4.71. 506,911 shares of the company traded hands, compared to its average volume of 2,247,289. The company has a 50 day moving average of $4.43 and a 200 day moving average of $4.59. The company has a quick ratio of 1.65, a current ratio of 1.80 and a debt-to-equity ratio of 2.01. Cosan has a 52 week low of $3.71 and a 52 week high of $6.25.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Cosan

Institutional investors have recently bought and sold shares of the company. Jane Street Group LLC grew its holdings in Cosan by 4.2% during the second quarter. Jane Street Group LLC now owns 95,992 shares of the company’s stock valued at $485,000 after purchasing an additional 3,866 shares during the period. Russell Investments Group Ltd. raised its stake in shares of Cosan by 27.2% in the third quarter. Russell Investments Group Ltd. now owns 27,416 shares of the company’s stock valued at $126,000 after buying an additional 5,856 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in shares of Cosan in the fourth quarter valued at $46,000. Boothbay Fund Management LLC purchased a new position in shares of Cosan during the 4th quarter valued at $55,000. Finally, Engineers Gate Manager LP lifted its position in shares of Cosan by 16.0% during the 2nd quarter. Engineers Gate Manager LP now owns 128,983 shares of the company’s stock valued at $651,000 after buying an additional 17,820 shares during the last quarter.

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.