Cosan (NYSE:CSAN) Shares Gap Down – What’s Next?

Shares of Cosan S.A. Sponsored ADR (NYSE:CSAN) gapped down before the market opened on Wednesday . The stock had previously closed at $2.99, but opened at $2.90. Cosan shares last traded at $2.9850, with a volume of 575,530 shares traded.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CSAN. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cosan in a report on Tuesday, June 9th. Citigroup raised Cosan to a “hold” rating in a report on Monday, June 29th. HSBC downgraded Cosan from a “hold” rating to a “reduce” rating and dropped their price target for the stock from $5.00 to $3.20 in a research note on Tuesday, May 26th. Zacks Research raised Cosan to a “hold” rating in a research report on Thursday, June 18th. Finally, Jefferies Financial Group cut Cosan to a “hold” rating in a research note on Tuesday, May 26th. Four investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Cosan presently has an average rating of “Reduce” and a consensus price target of $3.85.

Cosan Stock Up 1.0%

The firm has a market cap of $2.92 billion, a price-to-earnings ratio of -1.36 and a beta of 0.71. The firm’s 50 day moving average price is $2.91 and its two-hundred day moving average price is $3.53. The company has a debt-to-equity ratio of 2.12, a current ratio of 1.87 and a quick ratio of 1.76.

Cosan (NYSE:CSAN) last issued its quarterly earnings results on Saturday, August 15th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.07). Cosan had a negative net margin of 21.83% and a negative return on equity of 12.58%. The company had revenue of $2.08 billion during the quarter, compared to analyst estimates of $996.01 million. As a group, sell-side analysts forecast that Cosan S.A. Sponsored ADR will post -0.27 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cosan

Several large investors have recently modified their holdings of the stock. SmartHarvest Portfolios LLC purchased a new position in Cosan in the 1st quarter valued at $46,000. Caitong International Asset Management Co. Ltd purchased a new position in Cosan during the 4th quarter worth $46,000. Royal Bank of Canada lifted its stake in shares of Cosan by 3,266.6% in the 1st quarter. Royal Bank of Canada now owns 12,389 shares of the company’s stock worth $51,000 after acquiring an additional 12,021 shares during the period. Blue Trust Inc. boosted its holdings in shares of Cosan by 12,141.9% in the first quarter. Blue Trust Inc. now owns 12,854 shares of the company’s stock valued at $53,000 after acquiring an additional 12,749 shares in the last quarter. Finally, Clear Harbor Asset Management LLC purchased a new stake in shares of Cosan in the fourth quarter valued at about $53,000.

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.