Adecoagro (NYSE:AGRO) Releases 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) posted its quarterly earnings data on Monday. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.40), Zacks reports. Adecoagro had a return on equity of 3.24% and a net margin of 2.30%.The company had revenue of $405.66 million for the quarter, compared to the consensus estimate of $402.00 million.

Adecoagro Price Performance

NYSE AGRO traded up $0.2350 on Friday, reaching $8.8050. The company's stock had a trading volume of 649,587 shares, compared to its average volume of 489,601. The firm has a market cap of $880.41 million, a PE ratio of 25.16 and a beta of 0.72. The business has a 50-day moving average price of $9.22 and a 200 day moving average price of $9.85. Adecoagro has a 52 week low of $8.15 and a 52 week high of $12.07. The company has a current ratio of 1.90, a quick ratio of 1.04 and a debt-to-equity ratio of 0.48.

Institutional Trading of Adecoagro

Several large investors have recently added to or reduced their stakes in the company. Invesco Ltd. grew its stake in Adecoagro by 86.5% during the second quarter. Invesco Ltd. now owns 458,693 shares of the company's stock worth $4,192,000 after buying an additional 212,685 shares during the last quarter. Ameriprise Financial Inc. grew its stake in Adecoagro by 32.3% during the second quarter. Ameriprise Financial Inc. now owns 370,391 shares of the company's stock worth $3,385,000 after buying an additional 90,518 shares during the last quarter. HRT Financial LP grew its stake in 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 buying an additional 152,672 shares during the last quarter. Engineers Gate Manager LP grew its stake in Adecoagro by 115.7% during the second quarter. Engineers Gate Manager LP now owns 191,927 shares of the company's stock worth $1,754,000 after buying an additional 102,955 shares during the last quarter. Finally, Jane Street Group LLC grew its stake in Adecoagro by 20.5% during the first quarter. Jane Street Group LLC now owns 189,055 shares of the company's stock worth $2,112,000 after buying an additional 32,169 shares during the last quarter. 45.25% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

About Adecoagro

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.