Cosan (NYSE:CSAN) Posts Quarterly Earnings Results

Cosan (NYSE:CSAN) posted its earnings results on Thursday. The company reported ($0.32) earnings per share (EPS) for the quarter, FiscalAI reports. Cosan had a negative return on equity of 13.95% and a negative net margin of 32.24%.The firm had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.55 billion.

Cosan Stock Performance

CSAN traded down $0.27 during trading on Friday, hitting $3.43. 5,249,437 shares of the company traded hands, compared to its average volume of 1,772,910. The firm has a market cap of $3.40 billion, a P/E ratio of -1.22 and a beta of 0.82. The stock’s fifty day moving average is $4.13 and its 200 day moving average is $4.39. 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 one year low of $3.30 and a one year high of $6.25.

Hedge Funds Weigh In On Cosan

Several institutional investors have recently added to or reduced their stakes in CSAN. Royal Bank of Canada grew its position in Cosan by 113,135.4% during the first quarter. Royal Bank of Canada now owns 198,162 shares of the company’s stock valued at $1,034,000 after buying an additional 197,987 shares during the period. Goldman Sachs Group Inc. grew its position in Cosan by 79.4% during the first quarter. Goldman Sachs Group Inc. now owns 49,306 shares of the company’s stock valued at $257,000 after buying an additional 21,818 shares during the period. Jane Street Group LLC grew its position in Cosan by 11.1% during the first quarter. Jane Street Group LLC now owns 92,126 shares of the company’s stock valued at $481,000 after buying an additional 9,181 shares during the period. JPMorgan Chase & Co. grew its position in Cosan by 4,668.1% during the second quarter. JPMorgan Chase & Co. now owns 46,823 shares of the company’s stock valued at $236,000 after buying an additional 45,841 shares during the period. Finally, Russell Investments Group Ltd. bought a new position in Cosan during the second quarter valued at about $109,000.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Cosan in a research note on Wednesday, January 21st. Three equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $4.75.

About Cosan

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.