Cosan (NYSE:CSAN) Posts Quarterly Earnings Results

by · The Cerbat Gem

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

Cosan Price Performance

Shares of CSAN stock traded down $0.10 on Friday, reaching $2.50. 2,221,799 shares of the company’s stock were exchanged, compared to its average volume of 1,087,095. The company’s fifty day simple moving average is $2.91 and its 200 day simple moving average is $3.73. Cosan has a 52 week low of $2.45 and a 52 week high of $6.01. The company has a debt-to-equity ratio of 2.12, a current ratio of 1.87 and a quick ratio of 1.76.

Insider Buying and Selling at Cosan

In other Cosan news, Director Rubens Ometto Silveira Mello sold 77,640 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $3.44, for a total value of $267,081.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Marcelo Eduardo Martins bought 2,441,528 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief executive officer owned 4,890,286 shares of the company’s stock, valued at approximately $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.

Hedge Funds Weigh In On Cosan

A number of institutional investors have recently modified their holdings of the stock. Engineers Gate Manager LP boosted its holdings in shares of Cosan by 83.2% in the fourth quarter. Engineers Gate Manager LP now owns 71,451 shares of the company’s stock valued at $282,000 after purchasing an additional 32,440 shares during the period. Marex Group plc purchased a new position in Cosan during the 4th quarter worth $474,000. PharVision Advisers LLC bought a new stake in Cosan during the 3rd quarter valued at $157,000. Jane Street Group LLC raised its position in Cosan by 4.2% during the 2nd quarter. Jane Street Group LLC now owns 95,992 shares of the company’s stock valued at $485,000 after purchasing an additional 3,866 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Cosan by 4,668.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 46,823 shares of the company’s stock worth $236,000 after buying an additional 45,841 shares during the period.

Wall Street Analyst Weigh In

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

Read Our Latest Stock Report on Cosan

Cosan Company Profile

(Get Free Report)

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.

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