Cosan (NYSE:CSAN) Posts Earnings Results

Key Points

• Cosan reported a quarterly earnings per share (EPS) of ($0.36), significantly below analysts' expectations of $7.12 billion in revenue.
• The company has a negative net margin of 25.77% and a negative return on equity of 24.39%.
• Following a downgrade from "hold" to "sell" by Wall Street Zen, Cosan's stock price was observed at $4.05 after a slight increase.

Cosan (NYSE:CSAN - Get Free Report) announced its quarterly earnings results on Thursday. The company reported ($0.36) earnings per share (EPS) for the quarter, Zacks reports. Cosan had a negative net margin of 25.77% and a negative return on equity of 24.39%. The company had revenue of $1.23 billion during the quarter, compared to analysts' expectations of $7.12 billion.

Cosan Price Performance

Shares of Cosan stock traded up $0.02 on Friday, hitting $4.05. The company's stock had a trading volume of 1,338,972 shares, compared to its average volume of 1,374,213. The company has a debt-to-equity ratio of 1.88, a quick ratio of 1.98 and a current ratio of 2.13. Cosan has a 1 year low of $3.93 and a 1 year high of $10.36. The firm has a fifty day moving average price of $4.80 and a 200-day moving average price of $5.11. The company has a market capitalization of $1.89 billion, a price-to-earnings ratio of 3.07, a price-to-earnings-growth ratio of 0.13 and a beta of 0.98.

Institutional Investors Weigh In On Cosan

Several large investors have recently bought and sold shares of the company. Engineers Gate Manager LP increased its stake in Cosan by 16.0% during the 2nd quarter. Engineers Gate Manager LP now owns 128,983 shares of the company's stock worth $651,000 after buying an additional 17,820 shares in the last quarter. Jane Street Group LLC grew its position in shares of Cosan by 4.2% in the second quarter. Jane Street Group LLC now owns 95,992 shares of the company's stock valued at $485,000 after purchasing an additional 3,866 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of Cosan in the second quarter valued at approximately $109,000. JPMorgan Chase & Co. grew its position in shares of Cosan by 4,668.1% in the second quarter. JPMorgan Chase & Co. now owns 46,823 shares of the company's stock valued at $236,000 after purchasing an additional 45,841 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of Cosan by 79.4% in the first quarter. Goldman Sachs Group Inc. now owns 49,306 shares of the company's stock valued at $257,000 after purchasing an additional 21,818 shares in the last quarter.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut Cosan from a "hold" rating to a "sell" rating in a research report on Saturday, May 24th.

About Cosan

Cosan SA engages in the fuel distribution business. It operates through Raízen, Compass, Moove, Rumo, and Radar segments. The company's Raízen segment engages in the production, commercialization, origination, and trading of ethanol, bioenergy, renewable sources, and sugar; trading and resale of electricity; and distribution and commercialization of fuels and lubricants.

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