Cosan (NYSE:CSAN) Posts Earnings Results, Beats Estimates By $0.39 EPS

Cosan (NYSE:CSAN) issued its earnings results on Friday. The company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.39, FiscalAI reports. Cosan had a negative net margin of 24.09% and a negative return on equity of 14.30%. The company had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $998.51 million.

Cosan Price Performance

CSAN traded down $0.10 on Friday, reaching $2.50. The company had a trading volume of 2,221,799 shares, compared to its average volume of 2,019,468. The company has a fifty day moving average of $2.91 and a 200-day moving average of $3.73. The company has a current ratio of 1.87, a quick ratio of 1.76 and a debt-to-equity ratio of 2.12. The company has a market capitalization of $2.48 billion, a P/E ratio of -1.02 and a beta of 0.70. Cosan has a one year low of $2.45 and a one year high of $6.01.

Insider Transactions at Cosan

In related news, Director Rubens Ometto Silveira Mello sold 77,640 shares of the company’s stock in a transaction that occurred on 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Marcelo Eduardo Martins purchased 2,441,528 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The shares were acquired at an average cost of $5.14 per share, for a total transaction of $12,549,453.92. Following the completion of the transaction, the chief executive officer directly owned 4,890,286 shares of the company’s stock, valued at $25,136,070.04. This trade represents 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 institutional investors have recently added to or reduced their stakes in the business. UBS Group AG lifted its position in shares of Cosan by 4.5% in the third quarter. UBS Group AG now owns 2,551,244 shares of the company’s stock worth $11,736,000 after buying an additional 109,186 shares during the last quarter. Balyasny Asset Management L.P. boosted its holdings in Cosan by 5,210.4% in the 4th quarter. Balyasny Asset Management L.P. now owns 776,592 shares of the company’s stock valued at $3,068,000 after purchasing an additional 761,968 shares during the period. XTX Topco Ltd grew its position in Cosan by 1,312.8% during the fourth quarter. XTX Topco Ltd now owns 588,722 shares of the company’s stock worth $2,325,000 after buying an additional 547,051 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Cosan by 235.0% during the 3rd quarter. Millennium Management LLC now owns 487,514 shares of the company’s stock worth $2,243,000 after purchasing an additional 341,973 shares in the last quarter. Finally, Jane Street Group LLC boosted its stake in Cosan by 130.3% during the fourth quarter. Jane Street Group LLC now owns 429,222 shares of the company’s stock worth $1,695,000 after buying an additional 242,861 shares in the last quarter.

Wall Street Analysts Forecast Growth

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

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.