Adecoagro (NYSE:AGRO) Announces Quarterly Earnings Results, Misses Estimates By $0.40 EPS

Key Points

• Adecoagro reported a quarterly earnings per share of ($0.14) and achieved a net margin of 3.97%.
• Stock prices for Adecoagro rose by 1.4% to reach $9.24 following the earnings announcement, with a market cap of $923.41 million.
• Several analysts downgraded Adecoagro’s stock rating and reduced their target prices, with Bank of America lowering its target from $12.00 to $10.80.

Adecoagro (NYSE:AGRO - Get Free Report) issued its quarterly earnings results on Monday. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.26 by ($0.40), Zacks reports. The company had revenue of $405.66 million during the quarter, compared to the consensus estimate of $402.00 million. Adecoagro had a return on equity of 3.24% and a net margin of 2.30%.

Adecoagro Stock Up 0.9%

AGRO stock traded up $0.0740 during mid-day trading on Thursday, reaching $8.5240. The company had a trading volume of 335,857 shares, compared to its average volume of 722,332. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.04. The stock has a 50 day simple moving average of $9.24 and a two-hundred day simple moving average of $9.86. The company has a market capitalization of $852.31 million, a price-to-earnings ratio of 24.33 and a beta of 0.72. Adecoagro has a 52 week low of $8.15 and a 52 week high of $12.07.

Analyst Upgrades and Downgrades

AGRO has been the subject of a number of research reports. UBS Group decreased their price objective on shares of Adecoagro from $10.50 to $9.90 and set a "neutral" rating for the company in a report on Tuesday, April 29th. Bank of America lowered Adecoagro from a "buy" rating to an "underperform" rating and cut their target price for the company from $12.00 to $10.80 in a research note on Friday, April 25th. Finally, Morgan Stanley decreased their target price on Adecoagro from $10.00 to $9.50 and set an "underweight" rating on the stock in a report on Wednesday, July 16th. One research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Sell" and a consensus price target of $10.07.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. State of Wyoming grew its stake 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 during the period. Lazard Asset Management LLC grew its position in shares of Adecoagro by 229,180.4% in 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 in the last quarter. HRT Financial LP lifted its stake in shares of Adecoagro by 203.0% in the 2nd quarter. HRT Financial LP now owns 227,889 shares of the company's stock valued at $2,082,000 after acquiring an additional 152,672 shares during the last quarter. Engineers Gate Manager LP increased its holdings in Adecoagro by 115.7% during the 2nd quarter. Engineers Gate Manager LP now owns 191,927 shares of the company's stock valued at $1,754,000 after purchasing an additional 102,955 shares during the period. Finally, Ameriprise Financial Inc. increased its holdings in Adecoagro by 32.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 370,391 shares of the company's stock valued at $3,385,000 after purchasing an additional 90,518 shares during the period. 45.25% of the stock is owned by institutional investors and hedge funds.

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.