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) issued its earnings results on Thursday, August 14th. The company reported ($0.36) EPS for the quarter, Zacks reports. The company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $7.12 billion. Cosan had a negative return on equity of 27.61% and a negative net margin of 28.08%.

Cosan Stock Down 1.7%

CSAN traded down $0.0650 during trading on Thursday, hitting $3.8050. The stock had a trading volume of 888,404 shares, compared to its average volume of 1,343,912. The company has a market capitalization of $1.78 billion, a PE ratio of 2.88, a PEG ratio of 0.12 and a beta of 0.98. Cosan has a twelve month low of $3.80 and a twelve month high of $10.27. The company has a debt-to-equity ratio of 1.88, a quick ratio of 1.98 and a current ratio of 2.13. The stock has a 50 day simple moving average of $4.69 and a two-hundred day simple moving average of $5.08.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded shares of Cosan from a "hold" rating to a "sell" rating in a research note on Saturday, May 24th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. Based on data from MarketBeat, Cosan presently has an average rating of "Strong Buy" and an average price target of $19.00.

Institutional Investors Weigh In On Cosan

Several institutional investors have recently bought and sold shares of CSAN. Royal Bank of Canada boosted its stake in Cosan by 113,135.4% in the first quarter. Royal Bank of Canada now owns 198,162 shares of the company's stock valued at $1,034,000 after acquiring an additional 197,987 shares in the last quarter. JPMorgan Chase & Co. raised its holdings 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 worth $236,000 after buying an additional 45,841 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings 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 worth $257,000 after buying an additional 21,818 shares during the last quarter. Russell Investments Group Ltd. purchased a new position in shares of Cosan in the second quarter worth $109,000. Finally, Engineers Gate Manager LP raised its holdings in shares of Cosan by 16.0% in the second 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 during the last quarter.

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.