Adecoagro (NYSE:AGRO – Get Free Report) announced its earnings results on Tuesday. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.41), Zacks reports. The company had revenue of $538.50 million for the quarter, compared to the consensus estimate of $602.01 million. Adecoagro had a net margin of 3.03% and a negative return on equity of 0.39%.
Adecoagro Trading Down 2.2%
Shares of NYSE AGRO traded down $0.20 during mid-day trading on Thursday, hitting $9.09. The stock had a trading volume of 510,200 shares, compared to its average volume of 1,081,468. The business has a 50 day moving average price of $10.08 and a two-hundred day moving average price of $11.22. Adecoagro has a 1 year low of $6.89 and a 1 year high of $15.89. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.86 and a current ratio of 1.74. The firm has a market cap of $1.30 billion, a P/E ratio of 27.55 and a beta of -0.04.
Analyst Ratings Changes
AGRO has been the subject of several research analyst reports. JPMorgan Chase & Co. lifted their price target on Adecoagro from $7.00 to $10.50 and gave the stock an “underweight” rating in a research note on Monday, June 15th. Weiss Ratings downgraded shares of Adecoagro from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, July 14th. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Adecoagro currently has a consensus rating of “Reduce” and an average target price of $12.12.
Institutional Trading of Adecoagro
A number of institutional investors have recently modified their holdings of the company. Orion Porfolio Solutions LLC bought a new position in Adecoagro during the 4th quarter valued at approximately $88,000. Quadrature Capital Ltd bought a new position in shares of Adecoagro during the fourth quarter valued at approximately $123,000. Virtu Financial LLC purchased a new stake in Adecoagro in the fourth quarter worth $147,000. State of Wyoming boosted its holdings in Adecoagro by 44.9% in 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 in the last quarter. Finally, State of Wisconsin Investment Board bought a new position in Adecoagro in the 4th quarter worth $206,000. 45.25% of the stock is currently owned by hedge funds and other institutional investors.
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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