Cosan (NYSE:CSAN) Shares Up 4.4% - Here's What Happened

Key Points

• Cosan shares rose 4.4% to about $3.08 in midday trading, although volume was 92% below the average session volume.
• Analyst sentiment remains cautious: HSBC downgraded the stock to “reduce,” while the consensus rating is “Reduce” with a target price of $3.85.
• Cosan reported a quarterly loss of $0.06 per share, missing the $0.01 consensus estimate, despite revenue of $2.08 billion; analysts expect a full-year loss of $0.27 per share.

Cosan S.A. Sponsored ADR (NYSE:CSAN - Get Free Report) was up 4.4% during mid-day trading on Tuesday . The company traded as high as $3.03 and last traded at $3.0790. 161,652 shares changed hands during trading, a decline of 92% from the average session volume of 2,082,427 shares. The stock had previously closed at $2.95.

Analyst Ratings Changes

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

Cosan Stock Up 4.2%

The company has a market capitalization of $3.05 billion, a P/E ratio of -1.42 and a beta of 0.70. The company has a current ratio of 1.87, a quick ratio of 1.76 and a debt-to-equity ratio of 2.12. The stock's fifty day moving average is $2.91 and its 200 day moving average is $3.57.

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

Institutional Investors Weigh In On Cosan

A number of large investors have recently made changes to their positions in CSAN. Monaco Asset Management SAM increased its stake in shares of Cosan by 200.5% during the fourth quarter. Monaco Asset Management SAM now owns 3,004,813 shares of the company's stock valued at $11,869,000 after buying an additional 2,004,813 shares during the period. UBS Group AG boosted its holdings in Cosan by 36.9% in the fourth quarter. UBS Group AG now owns 3,492,792 shares of the company's stock valued at $13,797,000 after acquiring an additional 941,548 shares in the last quarter. Balyasny Asset Management L.P. boosted its holdings in Cosan by 5,210.4% in the fourth quarter. Balyasny Asset Management L.P. now owns 776,592 shares of the company's stock valued at $3,068,000 after acquiring an additional 761,968 shares in the last quarter. XTX Topco Ltd increased its position in Cosan by 1,312.8% during the 4th quarter. XTX Topco Ltd now owns 588,722 shares of the company's stock valued at $2,325,000 after purchasing an additional 547,051 shares during the period. Finally, Tejara Capital Ltd bought a new position in Cosan in the 4th quarter worth $1,386,000.

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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