Adecoagro (NYSE:AGRO) Issues Quarterly Earnings Results

Adecoagro (NYSE:AGRO) issued its quarterly earnings results on Tuesday. The company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.34), FiscalAI reports. Adecoagro had a negative return on equity of 2.38% and a net margin of 0.95%.The business had revenue of $538.50 million for the quarter, compared to the consensus estimate of $602.01 million.

Adecoagro Stock Performance

Shares of AGRO stock traded down $0.27 on Tuesday, reaching $9.39. The stock had a trading volume of 608,857 shares, compared to its average volume of 1,086,512. Adecoagro has a 12 month low of $6.89 and a 12 month high of $15.89. The firm has a market capitalization of $1.34 billion, a price-to-earnings ratio of 469.98 and a beta of -0.04. The firm’s 50-day moving average is $10.20 and its two-hundred day moving average is $11.22. The company has a quick ratio of 0.86, a current ratio of 1.74 and a debt-to-equity ratio of 0.80.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on AGRO. JPMorgan Chase & Co. boosted their price target on Adecoagro from $7.00 to $10.50 and gave the stock an “underweight” rating in a research report on Monday, June 15th. Weiss Ratings downgraded Adecoagro from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, July 14th. Finally, Citigroup cut shares of Adecoagro from a “buy” rating to a “neutral” rating and raised their target price for the company from $13.00 to $15.00 in a research note on Tuesday, April 14th. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $12.12.

Hedge Funds Weigh In On Adecoagro

Institutional investors have recently bought and sold shares of the business. Principal Securities Inc. raised its stake in Adecoagro by 4.3% in the fourth quarter. Principal Securities Inc. now owns 44,530 shares of the company’s stock valued at $353,000 after buying an additional 1,851 shares during the period. State of Wyoming lifted its position in shares of Adecoagro by 44.9% in the second quarter. State of Wyoming now owns 17,203 shares of the company’s stock valued at $157,000 after buying an additional 5,334 shares during the last quarter. Orion Porfolio Solutions LLC bought a new position in shares of Adecoagro during the 4th quarter worth approximately $88,000. Verition Fund Management LLC boosted its stake in shares of Adecoagro by 17.0% during the 4th quarter. Verition Fund Management LLC now owns 97,741 shares of the company’s stock worth $775,000 after acquiring an additional 14,224 shares during the period. Finally, Quadrature Capital Ltd acquired a new position in shares of Adecoagro during the 4th quarter worth approximately $123,000. Institutional investors and hedge funds own 45.25% of the company’s stock.

About Adecoagro

Adecoagro (NYSE: AGRO) is a leading agricultural and renewable energy company with core operations in South America. Founded in 2002 by Argentine entrepreneur Alejandro Bulgheroni, the company has grown into a vertically integrated platform covering crop production, sugar and ethanol manufacturing, and dairy operations. Adecoagro’s business model spans the full value chain, from seed selection and planting through harvesting, processing and distribution of commodities.

The company manages over 700,000 hectares of farmland across Argentina, Brazil and Uruguay.