Adecoagro (NYSE:AGRO) Releases Quarterly Earnings Results

Key Points

• Adecoagro missed quarterly expectations: The company reported $0.20 in earnings per share, below the $0.54 consensus estimate, while revenue of $538.5 million fell short of analysts’ $602.01 million forecast.
• Shares declined 2.7% to $9.39 following the results. The stock remains well below its 52-week high of $15.89, with a market capitalization of approximately $1.34 billion.
• Analyst sentiment is cautious: Adecoagro has an average “Reduce” rating, with one Buy, four Hold and two Sell ratings, and a consensus price target of $12.12. Institutional investors own 45.25% of the company.

Adecoagro (NYSE:AGRO - Get Free Report) released its quarterly earnings results on Tuesday. The company reported $0.20 EPS for the quarter, missing analysts' consensus estimates of $0.54 by ($0.34), FiscalAI reports. Adecoagro had a negative return on equity of 2.38% and a net margin of 0.95%.The business had revenue of $538.50 million for the quarter, compared to analyst estimates of $602.01 million.

Adecoagro Stock Down 2.7%

Shares of Adecoagro stock traded down $0.27 during trading on Tuesday, reaching $9.39. The stock had a trading volume of 608,857 shares, compared to its average volume of 1,086,512. The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of 469.98 and a beta of -0.04. The stock has a fifty day moving average price of $10.20 and a two-hundred day moving average price of $11.22. Adecoagro has a 52 week low of $6.89 and a 52 week high of $15.89. The company has a current ratio of 1.74, a quick ratio of 0.86 and a debt-to-equity ratio of 0.80.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on AGRO. Weiss Ratings cut Adecoagro from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Tuesday, July 14th. Citigroup lowered shares of Adecoagro from a "buy" rating to a "neutral" rating and lifted their price target for the company from $13.00 to $15.00 in a research note on Tuesday, April 14th. Finally, JPMorgan Chase & Co. upped their price target on shares of Adecoagro from $7.00 to $10.50 and gave the company an "underweight" rating in a report on Monday, June 15th. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Adecoagro currently has an average rating of "Reduce" and a consensus price target of $12.12.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of AGRO. Principal Securities Inc. lifted its stake in Adecoagro by 4.3% in the 4th quarter. Principal Securities Inc. now owns 44,530 shares of the company's stock valued at $353,000 after acquiring an additional 1,851 shares in the last quarter. State of Wyoming boosted its position in Adecoagro by 44.9% during the 2nd quarter. State of Wyoming now owns 17,203 shares of the company's stock worth $157,000 after acquiring an additional 5,334 shares during the last quarter. Orion Porfolio Solutions LLC bought a new position in shares of Adecoagro during the 4th quarter worth approximately $88,000. Verition Fund Management LLC grew its stake in shares of Adecoagro by 17.0% during the 4th quarter. Verition Fund Management LLC now owns 97,741 shares of the company's stock worth $775,000 after acquiring an additional 14,224 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new stake in shares of Adecoagro in the fourth quarter valued at approximately $123,000. 45.25% of the stock is currently owned by institutional investors.

Adecoagro Company Profile

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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