Adecoagro (NYSE:AGRO) Issues Earnings Results

Adecoagro (NYSE:AGRO) issued its earnings results on Monday. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.05, FiscalAI reports. Adecoagro had a return on equity of 3.09% and a net margin of 1.67%.The company had revenue of $415.94 million during the quarter, compared to analysts’ expectations of $371.95 million.

Adecoagro Trading Up 0.9%

NYSE:AGRO traded up $0.10 on Monday, reaching $10.92. The company’s stock had a trading volume of 1,706,840 shares, compared to its average volume of 784,834. Adecoagro has a 12-month low of $6.89 and a 12-month high of $11.78. The stock has a 50 day moving average price of $8.92 and a 200 day moving average price of $8.29. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of 47.46 and a beta of 0.44. The company has a quick ratio of 1.56, a current ratio of 2.80 and a debt-to-equity ratio of 0.73.

Institutional Trading of Adecoagro

Hedge funds and other institutional investors have recently modified their holdings of the business. Orion Porfolio Solutions LLC acquired a new position in Adecoagro in the fourth quarter valued at about $88,000. Quadrature Capital Ltd purchased a new stake in shares of Adecoagro in the 4th quarter valued at approximately $123,000. State of Wyoming raised its stake in shares of Adecoagro by 44.9% in the 2nd quarter. State of Wyoming now owns 17,203 shares of the company’s stock valued at $157,000 after acquiring an additional 5,334 shares during the period. Virtu Financial LLC acquired a new position in shares of Adecoagro in the 4th quarter worth approximately $147,000. Finally, State of Wisconsin Investment Board purchased a new position in shares of Adecoagro during the 4th quarter worth approximately $206,000. 45.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AGRO has been the topic of several analyst reports. Truist Financial set a $9.00 price target on Adecoagro in a report on Friday, January 9th. JPMorgan Chase & Co. assumed coverage on shares of Adecoagro in a research report on Monday, December 1st. They set an “underweight” rating and a $7.00 price objective for the company. Wall Street Zen downgraded shares of Adecoagro from a “hold” rating to a “sell” rating in a research note on Sunday, November 23rd. UBS Group decreased their target price on shares of Adecoagro from $8.50 to $8.00 and set a “neutral” rating on the stock in a report on Tuesday, December 2nd. Finally, Weiss Ratings upgraded shares of Adecoagro from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, March 4th. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $8.50.

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.