Cosan (NYSE:CSAN) Issues Earnings Results

Cosan (NYSE:CSAN) announced its earnings results on Friday. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.39, FiscalAI reports. Cosan had a negative return on equity of 14.30% and a negative net margin of 24.09%.The company had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $997.32 million.

Cosan Price Performance

CSAN traded down $0.10 during trading on Friday, reaching $2.50. 2,221,799 shares of the stock were exchanged, compared to its average volume of 1,087,095. Cosan has a 1 year low of $2.45 and a 1 year high of $6.01. The company has a market capitalization of $2.48 billion, a price-to-earnings ratio of -1.02 and a beta of 0.70. The business’s 50 day moving average price is $2.90 and its two-hundred day moving average price is $3.72. The company has a debt-to-equity ratio of 2.12, a current ratio of 1.87 and a quick ratio of 1.76.

Wall Street Analysts Forecast Growth

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

Insider Activity

In related news, Director Rubens Ometto Silveira Mello sold 77,640 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $3.44, for a total value of $267,081.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Marcelo Eduardo Martins bought 2,441,528 shares of the business’s stock in a transaction on Tuesday, May 19th. The shares were acquired at an average price of $5.14 per share, with a total value of $12,549,453.92. Following the transaction, the chief executive officer owned 4,890,286 shares of the company’s stock, valued at $25,136,070.04. The trade was a 99.70% increase in their position. The disclosure for this purchase is available in the SEC filing.

Institutional Trading of Cosan

A number of large investors have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd acquired a new position in Cosan in the 4th quarter valued at about $46,000. Boothbay Fund Management LLC purchased a new position in shares of Cosan during the fourth quarter valued at approximately $55,000. EFG International AG acquired a new stake in Cosan during the fourth quarter worth approximately $79,000. Russell Investments Group Ltd. acquired a new position in Cosan in the 2nd quarter valued at $109,000. Finally, Schonfeld Strategic Advisors LLC purchased a new position in shares of Cosan during the 4th quarter worth $132,000.

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.