Adecoagro S.A. (NYSE:AGRO – Get Free Report)’s stock price shot up 5.9% during mid-day trading on Wednesday . The stock traded as high as $11.30 and last traded at $11.4120. Approximately 139,872 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 1,119,881 shares. The stock had previously closed at $10.78.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. boosted their price objective on Adecoagro from $7.00 to $10.50 and gave the company an “underweight” rating in a report on Monday, June 15th. Wall Street Zen raised shares of Adecoagro from a “sell” rating to a “hold” rating in a research report on Saturday, April 4th. Citigroup downgraded shares of Adecoagro from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $13.00 to $15.00 in a report on Tuesday, April 14th. Weiss Ratings lowered shares of Adecoagro from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, July 14th. Finally, UBS Group raised shares of Adecoagro from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $8.00 to $16.20 in a research report on Monday, March 30th. 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $12.12.
Check Out Our Latest Analysis on Adecoagro
Adecoagro Trading Up 4.9%
Adecoagro (NYSE:AGRO – Get Free Report) last posted its quarterly earnings data on Monday, May 11th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.49). Adecoagro had a negative return on equity of 2.38% and a net margin of 0.95%.The firm had revenue of $419.44 million for the quarter, compared to analysts’ expectations of $408.94 million. Equities research analysts forecast that Adecoagro S.A. will post 1.73 earnings per share for the current year.
Adecoagro Announces Dividend
The company also recently declared a dividend, which was paid on Tuesday, May 19th. Investors of record on Monday, May 4th were issued a dividend of $0.1213 per share. The ex-dividend date was Monday, May 4th. This represents a yield of 160.0%. Adecoagro’s payout ratio is 1,200.00%.
Institutional Investors Weigh In On Adecoagro
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ghisallo Capital Management LLC bought a new position in shares of Adecoagro in the fourth quarter valued at approximately $2,987,000. Decker Retirement Planning Inc. bought a new stake in Adecoagro during the first quarter worth $4,629,000. PenderFund Capital Management Ltd. bought a new stake in Adecoagro during the third quarter worth $1,960,000. Invesco Ltd. boosted its position in Adecoagro by 86.5% in the second quarter. Invesco Ltd. now owns 458,693 shares of the company’s stock worth $4,192,000 after purchasing an additional 212,685 shares during the last quarter. Finally, Burkehill Global Management LP purchased a new position in Adecoagro in the fourth quarter worth $1,586,000. Hedge funds and other institutional investors own 45.25% of the company’s stock.
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.
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