Zacks Investment Research cut shares of Cosan (NYSE:CZZ) from a hold rating to a sell rating in a report published on Friday morning.
According to Zacks, “For 2018, Cosan affirmed its pro-forma net revenues at R$50-R$53 billion. In Raizen Energia, the company maintained the initial EBITDA projections of R$3.4-R$3.8 billion. At Raízen Combustíveis, Cosan narrowed the EBITDA projections for 2018 to R$2.75-R$2.95 billion. The guidance reflects reduction in the Otto cycle fuel demand, as well as impact of the truckers’ strike. Further, Cosan’s results will be hurt by adverse impacts of rising costs of sales and services, unfavorable weather conditions and increase in debt.”
CZZ has been the subject of several other research reports. Santander cut shares of Cosan from a buy rating to a hold rating in a report on Tuesday, December 11th. ValuEngine upgraded shares of Cosan from a sell rating to a hold rating in a report on Wednesday, October 24th. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. Cosan presently has a consensus rating of Hold and a consensus target price of $11.38.
Cosan stock opened at $10.11 on Friday. The company has a market capitalization of $2.43 billion, a PE ratio of 15.80 and a beta of 1.40. Cosan has a twelve month low of $6.20 and a twelve month high of $11.89. The company has a quick ratio of 1.49, a current ratio of 1.60 and a debt-to-equity ratio of 1.44.
Cosan (NYSE:CZZ) last released its quarterly earnings results on Friday, November 9th. The basic materials company reported $0.19 earnings per share for the quarter. The company had revenue of $1.21 billion during the quarter. Cosan had a net margin of 3.39% and a return on equity of 4.41%. As a group, equities research analysts predict that Cosan will post 0.6 EPS for the current fiscal year.
Institutional investors and hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC acquired a new position in Cosan during the third quarter worth $113,000. Mackenzie Financial Corp acquired a new position in Cosan during the third quarter worth $129,000. Regal Investment Advisors LLC boosted its holdings in Cosan by 49.5% during the third quarter. Regal Investment Advisors LLC now owns 24,634 shares of the basic materials company’s stock worth $166,000 after purchasing an additional 8,158 shares during the last quarter. Macquarie Group Ltd. boosted its holdings in Cosan by 63.9% during the third quarter. Macquarie Group Ltd. now owns 28,851 shares of the basic materials company’s stock worth $194,000 after purchasing an additional 11,251 shares during the last quarter. Finally, Capital Fund Management S.A. acquired a new position in Cosan during the second quarter worth $254,000. Institutional investors and hedge funds own 27.54% of the company’s stock.
Cosan Limited, together with its subsidiaries, engages in fuel and natural gas distribution, logistics, lubricant, sugar and ethanol businesses primarily in Brazil and internationally. The company's Raízen Energia produces and markets products derived from sugar cane, including raw sugar, anhydrous, and hydrated ethanol, as well as activities related to energy cogeneration from sugarcane bagasse.
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