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

Adecoagro (NYSE:AGRO) released its quarterly earnings data 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. Adecoagro had a negative return on equity of 1.17% and a negative net margin of 0.55%.The firm had revenue of $419.45 million for the quarter, compared to analyst estimates of $408.94 million.

Adecoagro Price Performance

NYSE AGRO traded up $0.37 during midday trading on Monday, hitting $13.50. The company had a trading volume of 934,168 shares, compared to its average volume of 1,277,063. The firm has a 50-day moving average price of $12.80 and a 200-day moving average price of $9.82. The company has a market capitalization of $1.35 billion, a PE 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 has a twelve month low of $6.89 and a twelve month high of $15.89.

Adecoagro Dividend Announcement

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

Insider Activity

In related news, CEO Mariano Bosch sold 100,000 shares of the firm’s stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $14.50, for a total value of $1,450,000.00. Following the transaction, the chief executive officer owned 897,249 shares in the company, valued at approximately $13,010,110.50. This trade represents a 10.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last quarter, insiders sold 106,815 shares of company stock worth $1,540,799. Corporate insiders own 6.70% of the company’s stock.

Institutional Investors Weigh In On Adecoagro

A number of large investors have recently bought and sold shares of AGRO. Ghisallo Capital Management LLC acquired a new position in shares of Adecoagro in the 4th quarter valued at approximately $2,987,000. PenderFund Capital Management Ltd. acquired a new stake in shares of Adecoagro during the 3rd quarter worth approximately $1,960,000. Invesco Ltd. increased its stake in Adecoagro by 86.5% in the second quarter. Invesco Ltd. now owns 458,693 shares of the company’s stock valued at $4,192,000 after acquiring an additional 212,685 shares during the last quarter. Burkehill Global Management LP bought a new position in Adecoagro in the fourth quarter valued at approximately $1,586,000. 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 valued at $2,192,000 after purchasing an additional 195,308 shares in the last quarter. 45.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on AGRO shares. Zacks Research cut Adecoagro from a “strong-buy” rating to a “hold” rating in a report on Monday, March 9th. Morgan Stanley raised Adecoagro from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $9.50 to $13.00 in a research report on Tuesday, March 17th. UBS Group upgraded Adecoagro from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $8.00 to $16.20 in a research note on Monday, March 30th. Citigroup cut Adecoagro from a “buy” rating to a “neutral” rating and increased their price target for the company from $13.00 to $15.00 in a research note on Tuesday, April 14th. Finally, Weiss Ratings raised Adecoagro from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday. One investment analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $11.53.

Adecoagro Company Profile

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.