Cosan (NYSE:CSAN) Issues Earnings Results, Misses Expectations By $0.17 EPS

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

Cosan Stock Down 0.9%

Shares of CSAN stock traded down $0.05 on Wednesday, reaching $4.71. The company’s stock had a trading volume of 506,911 shares, compared to its average volume of 2,247,289. Cosan has a 12-month low of $3.71 and a 12-month high of $6.25. The stock’s 50 day simple moving average is $4.43 and its 200-day simple moving average is $4.59. The company has a current ratio of 1.80, a quick ratio of 1.65 and a debt-to-equity ratio of 2.01.

Hedge Funds Weigh In On Cosan

Institutional investors have recently added to or reduced their stakes in the business. UBS Group AG raised its holdings in shares of Cosan by 4.5% in the 3rd quarter. UBS Group AG now owns 2,551,244 shares of the company’s stock valued at $11,736,000 after acquiring an additional 109,186 shares in the last quarter. Balyasny Asset Management L.P. boosted its position in shares of Cosan by 5,210.4% during the 4th quarter. Balyasny Asset Management L.P. now owns 776,592 shares of the company’s stock valued at $3,068,000 after acquiring an additional 761,968 shares during the last quarter. XTX Topco Ltd grew its holdings in shares of 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 purchasing an additional 547,051 shares in the last quarter. Millennium Management LLC increased its position in shares of Cosan by 235.0% in the third 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 during the last quarter. Finally, Jane Street Group LLC increased its position in shares of Cosan by 130.3% in the fourth quarter. Jane Street Group LLC now owns 429,222 shares of the company’s stock worth $1,695,000 after purchasing an additional 242,861 shares during the last quarter.

Wall Street Analysts Forecast Growth

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

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.