Cosan (NYSE:CSAN) Releases Quarterly Earnings Results, Misses Estimates By $0.17 EPS

Cosan (NYSE:CSAN) released its quarterly earnings results on Monday. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.17), Zacks reports. The firm had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $7.51 billion. Cosan had a negative return on equity of 36.85% and a negative net margin of 32.24%.

Cosan Stock Performance

CSAN traded down $0.15 during trading on Wednesday, reaching $4.61. 850,713 shares of the company’s stock were exchanged, compared to its average volume of 2,251,804. The company has a quick ratio of 1.65, a current ratio of 1.80 and a debt-to-equity ratio of 2.01. The business has a 50 day moving average price of $4.43 and a 200 day moving average price of $4.59. Cosan has a fifty-two week low of $3.71 and a fifty-two week high of $6.25.

Wall Street Analysts Forecast Growth

CSAN has been the subject of several research reports. Wall Street Zen lowered Cosan from a “buy” rating to a “hold” rating in a report on Saturday, December 27th. Weiss Ratings reissued a “sell (d)” rating on shares of Cosan in a research report on Wednesday, January 21st. HSBC set a $5.00 price objective on Cosan in a research note on Friday, December 5th. Finally, The Goldman Sachs Group decreased their target price on Cosan from $5.00 to $4.50 and set a “neutral” rating for the company in a research note on Monday, December 1st. Three investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $4.75.

Hedge Funds Weigh In On Cosan

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Royal Bank of Canada boosted its position in shares of Cosan by 113,135.4% during the 1st quarter. Royal Bank of Canada now owns 198,162 shares of the company’s stock valued at $1,034,000 after acquiring an additional 197,987 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Cosan by 79.4% during the first quarter. Goldman Sachs Group Inc. now owns 49,306 shares of the company’s stock worth $257,000 after purchasing an additional 21,818 shares during the period. Jane Street Group LLC lifted its stake in Cosan by 11.1% during the first quarter. Jane Street Group LLC now owns 92,126 shares of the company’s stock worth $481,000 after purchasing an additional 9,181 shares during the period. JPMorgan Chase & Co. boosted its holdings 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 purchasing an additional 45,841 shares in the last quarter. Finally, Russell Investments Group Ltd. bought a new stake in shares of Cosan in the 2nd quarter valued at approximately $109,000.

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.