Cosan (NYSE:CSAN) Shares Down 9.3% – Here’s What Happened

by · The Cerbat Gem

Cosan S.A. Sponsored ADR (NYSE:CSAN – Get Free Report) shares were down 9.3% during mid-day trading on Friday . The company traded as low as $4.90 and last traded at $4.9450. Approximately 2,758,631 shares changed hands during mid-day trading, an increase of 71% from the average daily volume of 1,608,893 shares. The stock had previously closed at $5.45.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Zacks Research lowered shares of Cosan from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 26th. Wall Street Zen upgraded shares of Cosan from a “hold” rating to a “buy” rating in a report on Saturday, November 29th. Weiss Ratings restated a “sell (d)” rating on shares of Cosan in a report on Wednesday, October 8th. HSBC set a $5.00 price target on Cosan in a research note on Friday. Finally, The Goldman Sachs Group lowered their price objective on Cosan from $5.00 to $4.50 and set a “neutral” rating for the company in a research note on Monday. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Cosan has a consensus rating of “Hold” and an average target price of $9.50.

Get Our Latest Report on CSAN

Cosan Stock Down 9.4%

The stock’s 50-day moving average price is $4.65 and its two-hundred day moving average price is $4.84. The company has a current ratio of 2.13, a quick ratio of 1.98 and a debt-to-equity ratio of 1.88. The stock has a market capitalization of $2.30 billion, a P/E ratio of -3.31 and a beta of 0.85.

Cosan (NYSE:CSAN – Get Free Report) last posted its quarterly earnings results on Friday, November 14th. The company reported ($0.47) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.49). Cosan had a negative return on equity of 34.75% and a negative net margin of 32.24%.The company had revenue of $2 billion during the quarter, compared to the consensus estimate of $7.09 billion. As a group, research analysts expect that Cosan S.A. Sponsored ADR will post 0.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cosan

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FORA Capital LLC purchased a new stake in Cosan during the first quarter valued at about $58,000. Ballentine Partners LLC bought a new stake in shares of Cosan in the second quarter valued at approximately $64,000. Verus Capital Partners LLC purchased a new stake in shares of Cosan during the 3rd quarter valued at approximately $69,000. Savant Capital LLC bought a new position in Cosan in the 2nd quarter worth approximately $77,000. Finally, Russell Investments Group Ltd. purchased a new position in Cosan in the 2nd quarter valued at approximately $109,000.

Cosan Company Profile

(Get Free Report)

Cosan SA engages in the fuel distribution business. It operates through Raízen, Compass, Moove, Rumo, and Radar segments. The company’s Raízen segment engages in the production, commercialization, origination, and trading of ethanol, bioenergy, renewable sources, and sugar; trading and resale of electricity; and distribution and commercialization of fuels and lubricants.

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