Adecoagro (NYSE:AGRO) Shares Gap Down After Earnings Miss

Key Points

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Adecoagro S.A. (NYSE:AGRO - Get Free Report)'s share price gapped down prior to trading on Tuesday following a weaker than expected earnings announcement. The stock had previously closed at $9.20, but opened at $8.75. Adecoagro shares last traded at $8.66, with a volume of 394,091 shares trading hands.

The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.40). The firm had revenue of $405.66 million during the quarter, compared to analyst estimates of $402.00 million. Adecoagro had a net margin of 2.30% and a return on equity of 3.24%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Morgan Stanley lowered their target price on shares of Adecoagro from $10.00 to $9.50 and set an "underweight" rating for the company in a research note on Wednesday, July 16th. UBS Group lowered their price objective on shares of Adecoagro from $10.50 to $9.90 and set a "neutral" rating for the company in a research note on Tuesday, April 29th. Finally, Wall Street Zen downgraded shares of Adecoagro from a "hold" rating to a "sell" rating in a research note on Friday. One investment analyst has rated the stock with a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Sell" and a consensus target price of $10.07.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AGRO. NBC Securities Inc. lifted its position in Adecoagro by 143,775.0% during the first quarter. NBC Securities Inc. now owns 5,755 shares of the company's stock valued at $64,000 after purchasing an additional 5,751 shares during the period. Lazard Asset Management LLC lifted its position in Adecoagro by 26.3% during the fourth quarter. Lazard Asset Management LLC now owns 13,406 shares of the company's stock valued at $126,000 after purchasing an additional 2,794 shares during the period. State of Wyoming acquired a new position in Adecoagro during the first quarter valued at $133,000. Vise Technologies Inc. purchased a new position in Adecoagro in the fourth quarter valued at $153,000. Finally, R Squared Ltd increased its holdings in Adecoagro by 103.0% in the first quarter. R Squared Ltd now owns 15,128 shares of the company's stock valued at $169,000 after buying an additional 7,676 shares in the last quarter. 45.25% of the stock is currently owned by institutional investors and hedge funds.

Adecoagro Stock Up 2.7%

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 business's fifty day simple moving average is $9.22 and its two-hundred day simple moving average is $9.85. The company has a market cap of $880.41 million, a PE ratio of 25.16 and a beta of 0.72.

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.