Adecoagro (NYSE:AGRO) Shares Gap Down Following Weak Earnings

Key Points

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Adecoagro S.A. (NYSE:AGRO - Get Free Report) 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). Adecoagro had a net margin of 3.97% and a return on equity of 11.60%. The company had revenue of $405.66 million during the quarter, compared to analyst estimates of $402.00 million.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. 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 research note on Wednesday, July 16th. UBS Group cut their price objective on shares of Adecoagro from $10.50 to $9.90 and set a "neutral" rating for the company in a research report on Tuesday, April 29th. Finally, Bank of America lowered 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.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of AGRO. Helikon Investments Ltd boosted its position in shares of Adecoagro by 72.5% in the 1st quarter. Helikon Investments Ltd now owns 12,037,204 shares of the company's stock worth $134,456,000 after purchasing an additional 5,060,347 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Adecoagro by 24.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,192,978 shares of the company's stock worth $24,496,000 after purchasing an additional 431,641 shares during the last quarter. Sparta 24 Ltd. acquired a new stake in shares of Adecoagro in the 2nd quarter valued at about $19,197,000. Amundi lifted its position in Adecoagro by 5.1% in the 1st quarter. Amundi now owns 730,766 shares of the company's stock valued at $8,177,000 after acquiring an additional 35,530 shares in the last quarter. Finally, 683 Capital Management LLC lifted its stake in Adecoagro by 6.2% in the fourth quarter. 683 Capital Management LLC now owns 600,000 shares of the company's stock valued at $5,658,000 after purchasing an additional 35,000 shares during the last quarter. Hedge funds and other institutional investors own 45.25% of the company's stock.

Adecoagro Price Performance

The firm has a market cap of $855.44 million, a P/E ratio of 13.81 and a beta of 0.72. The company has a current ratio of 1.98, a quick ratio of 1.04 and a debt-to-equity ratio of 0.47. The business's fifty day simple moving average is $9.28 and its 200-day simple moving average is $9.88.

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.

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