Adecoagro (NYSE:AGRO) Announces Quarterly Earnings Results

Adecoagro (NYSE:AGRO) released its earnings results on Monday. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of $0.25 by ($0.49), FiscalAI reports. Adecoagro had a negative net margin of 0.55% and a negative return on equity of 1.17%. The firm had revenue of $419.45 million during the quarter, compared to the consensus estimate of $408.94 million.

Adecoagro Price Performance

Shares of AGRO traded up $0.37 during mid-day trading on Monday, reaching $13.50. The company had a trading volume of 939,866 shares, compared to its average volume of 1,277,063. The company’s 50 day simple moving average is $12.80 and its 200 day simple moving average is $9.82. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.82 and a current ratio of 1.38. Adecoagro has a 1-year low of $6.89 and a 1-year high of $15.89. The company has a market capitalization of $1.35 billion, a price-to-earnings ratio of -168.74 and a beta of -0.04.

Adecoagro Dividend Announcement

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

Insider Buying and Selling

In related news, CEO Mariano Bosch sold 100,000 shares of Adecoagro stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $14.50, for a total transaction of $1,450,000.00. Following the sale, the chief executive officer directly owned 897,249 shares in the company, valued at $13,010,110.50. This trade represents a 10.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders have sold 106,815 shares of company stock worth $1,540,799. 6.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Adecoagro

Several hedge funds have recently added to or reduced their stakes in AGRO. Goldman Sachs Group Inc. boosted its position in Adecoagro by 48.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 86,739 shares of the company’s stock worth $969,000 after buying an additional 28,275 shares during the period. Jane Street Group LLC boosted its position in Adecoagro by 20.5% during the 1st quarter. Jane Street Group LLC now owns 189,055 shares of the company’s stock worth $2,112,000 after buying an additional 32,169 shares during the period. Invesco Ltd. boosted its position in Adecoagro by 86.5% during the 2nd quarter. Invesco Ltd. now owns 458,693 shares of the company’s stock worth $4,192,000 after buying an additional 212,685 shares during the period. Ameriprise Financial Inc. boosted its position in Adecoagro by 32.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 370,391 shares of the company’s stock worth $3,385,000 after buying an additional 90,518 shares during the period. Finally, Engineers Gate Manager LP boosted its position in Adecoagro by 115.7% during the 2nd quarter. Engineers Gate Manager LP now owns 191,927 shares of the company’s stock worth $1,754,000 after buying an additional 102,955 shares during the period. 45.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AGRO has been the topic of a number of research analyst reports. Morgan Stanley upgraded shares of Adecoagro from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $9.50 to $13.00 in a research note on Tuesday, March 17th. Wall Street Zen upgraded shares of Adecoagro from a “sell” rating to a “hold” rating in a research note on Saturday, April 4th. Weiss Ratings upgraded shares of Adecoagro from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday. Zacks Research downgraded shares of Adecoagro from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 9th. Finally, Citigroup downgraded shares of Adecoagro from a “buy” rating to a “neutral” rating and raised their price target for the company from $13.00 to $15.00 in a research note on Tuesday, April 14th. One research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Adecoagro has a consensus rating of “Hold” and a consensus target price of $11.53.

About Adecoagro

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.