Cosan (NYSE:CSAN) Stock Price Up 8.3% - Here's Why

Key Points

• Cosan shares jumped 8.3% to $2.75 in Friday trading, despite trading volume running about 50% below its average daily level.
• Analyst sentiment remains cautious: the stock has a consensus “Reduce” rating, with four Holds and two Sells and an average price target of $3.85.
• Cosan’s latest quarter showed a $0.06-per-share loss, missing estimates by $0.07, along with a negative net margin of 21.83% and negative return on equity of 12.58%.

Cosan S.A. Sponsored ADR (NYSE:CSAN - Get Free Report)'s share price shot up 8.3% during trading on Friday . The company traded as high as $2.77 and last traded at $2.75. Approximately 1,027,612 shares traded hands during mid-day trading, a decline of 50% from the average daily volume of 2,066,145 shares. The stock had previously closed at $2.54.

Analyst Ratings Changes

CSAN has been the topic of a number of research reports. HSBC cut shares of Cosan from a "hold" rating to a "reduce" rating and dropped their target price for the stock from $5.00 to $3.20 in a report on Tuesday, May 26th. Citigroup raised shares of Cosan to a "hold" rating in a research report on Monday, June 29th. Jefferies Financial Group lowered shares of Cosan to a "hold" rating in a research note on Tuesday, May 26th. Zacks Research upgraded Cosan to a "hold" rating in a research note on Thursday, June 18th. Finally, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Cosan in a report on Tuesday, June 9th. Four analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Reduce" and a consensus price target of $3.85.

Cosan Stock Performance

The company has a debt-to-equity ratio of 2.12, a current ratio of 1.87 and a quick ratio of 1.76. The stock has a fifty day moving average price of $2.89 and a two-hundred day moving average price of $3.66. The company has a market cap of $2.75 billion, a P/E ratio of -1.28 and a beta of 0.70.

Cosan (NYSE:CSAN - Get Free Report) last posted its earnings results on Saturday, August 15th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.07). Cosan had a negative net margin of 21.83% and a negative return on equity of 12.58%. The business had revenue of $2.08 billion during the quarter, compared to analyst estimates of $996.01 million. On average, equities analysts forecast that Cosan S.A. Sponsored ADR will post -0.27 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cosan

Hedge funds and other institutional investors have recently modified their holdings of the stock. SmartHarvest Portfolios LLC acquired a new position in Cosan during the 1st quarter valued at about $46,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Cosan in the fourth quarter valued at approximately $46,000. Royal Bank of Canada boosted its holdings in shares of Cosan by 3,266.6% in the first quarter. Royal Bank of Canada now owns 12,389 shares of the company's stock valued at $51,000 after acquiring an additional 12,021 shares in the last quarter. Blue Trust Inc. increased its stake in shares of Cosan by 12,141.9% during the first quarter. Blue Trust Inc. now owns 12,854 shares of the company's stock valued at $53,000 after acquiring an additional 12,749 shares during the period. Finally, Clear Harbor Asset Management LLC bought a new stake in Cosan during the fourth quarter worth approximately $53,000.

Cosan Company Profile

Cosan Limited NYSE: CSAN is a Brazilian diversified energy and logistics group focused on agribusiness, fuels, and infrastructure. Its core activities include the cultivation of sugarcane, production of ethanol and sugar, generation of bioelectricity from bagasse, and distribution of fuels under the Raízen joint venture with Shell. Through its subsidiary Moove, Cosan is a leading global producer of base oils and lubricants, while Comgás serves as one of Brazil's largest natural gas distributors.

Founded in 1936 in the state of São Paulo, Cosan has grown through organic expansion and strategic acquisitions.

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