Adecoagro (NYSE:AGRO) Issues Quarterly Earnings Results

Adecoagro (NYSE:AGRO) issued its earnings results on Tuesday. The company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.20, Zacks reports. Adecoagro had a return on equity of 3.10% and a net margin of 1.67%.The company had revenue of $304.21 million for the quarter, compared to the consensus estimate of $377.18 million.

Adecoagro Price Performance

Shares of AGRO traded down $0.12 during trading hours on Thursday, reaching $7.79. 32,269 shares of the company’s stock traded hands, compared to its average volume of 649,249. Adecoagro has a 12 month low of $7.42 and a 12 month high of $11.78. The company has a current ratio of 1.90, a quick ratio of 0.95 and a debt-to-equity ratio of 0.48. The firm’s 50 day simple moving average is $7.94 and its 200-day simple moving average is $8.71. The stock has a market cap of $778.42 million, a PE ratio of 33.96 and a beta of 0.62.

Adecoagro Announces Dividend

The company also recently declared a dividend, which will be paid on Wednesday, November 19th. Stockholders of record on Monday, November 3rd will be issued a $0.1749 dividend. The ex-dividend date of this dividend is Monday, November 3rd. This represents a dividend yield of 444.0%. Adecoagro’s dividend payout ratio is presently 100.00%.

Hedge Funds Weigh In On Adecoagro

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State of Wyoming increased its position in Adecoagro by 44.9% during the second 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 last quarter. Goldman Sachs Group Inc. increased its stake in Adecoagro by 48.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 86,739 shares of the company’s stock worth $969,000 after acquiring an additional 28,275 shares during the last quarter. Lazard Asset Management LLC lifted its position in Adecoagro by 229,180.4% during the second quarter. Lazard Asset Management LLC now owns 116,933 shares of the company’s stock valued at $1,068,000 after purchasing an additional 116,882 shares during the last quarter. Engineers Gate Manager LP boosted its position in shares of Adecoagro by 115.7% during the second quarter. Engineers Gate Manager LP now owns 191,927 shares of the company’s stock valued at $1,754,000 after buying an additional 102,955 shares during the period. Finally, HRT Financial LP increased its position in shares of Adecoagro by 203.0% during the second quarter. HRT Financial LP now owns 227,889 shares of the company’s stock worth $2,082,000 after acquiring an additional 152,672 shares during the period. 45.25% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Morgan Stanley cut their price target on Adecoagro from $10.00 to $9.50 and set an “underweight” rating for the company in a report on Wednesday, July 16th. Wall Street Zen downgraded Adecoagro from a “hold” rating to a “sell” rating in a report on Sunday, September 7th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Adecoagro in a research report on Wednesday, October 8th. Finally, UBS Group dropped their target price on shares of Adecoagro from $9.90 to $8.50 and set a “neutral” rating for the company in a research report on Wednesday, September 3rd. One investment analyst has rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Strong Sell” and a consensus price target of $9.60.

Adecoagro Company Profile

Adecoagro SA operates as an agro-industrial company in South America. The company mainly operates through three segments: Farming; Sugar, Ethanol and Energy; and Land Transformation. It engages in farming crops, rice and other agricultural products, dairy operations, and land transformation activities, as well as sugar, ethanol, and energy production activities.