Adecoagro (NYSE:AGRO) Issues Quarterly Earnings Results

Adecoagro (NYSE:AGRO) announced its earnings results on Saturday, August 8th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.41), Zacks reports. Adecoagro had a negative return on equity of 0.38% and a net margin of 3.03%.The business had revenue of $538.50 million for the quarter, compared to analyst estimates of $602.01 million.

Adecoagro Stock Up 5.3%

Shares of AGRO opened at $11.98 on Wednesday. Adecoagro has a 52-week low of $6.89 and a 52-week high of $15.89. The company has a market capitalization of $1.71 billion, a PE ratio of 36.30 and a beta of -0.04. The stock has a fifty day simple moving average of $10.07 and a two-hundred day simple moving average of $11.39. The company has a quick ratio of 0.89, a current ratio of 1.73 and a debt-to-equity ratio of 0.84.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Goldman Sachs Group Inc. increased its position in Adecoagro by 48.4% during the first quarter. Goldman Sachs Group Inc. now owns 86,739 shares of the company’s stock worth $969,000 after purchasing an additional 28,275 shares during the last quarter. Jane Street Group LLC boosted its holdings in Adecoagro by 20.5% in the 1st quarter. Jane Street Group LLC now owns 189,055 shares of the company’s stock valued at $2,112,000 after purchasing an additional 32,169 shares during the last quarter. Invesco Ltd. boosted its holdings in Adecoagro by 86.5% in the 2nd quarter. Invesco Ltd. now owns 458,693 shares of the company’s stock valued at $4,192,000 after purchasing an additional 212,685 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in Adecoagro by 32.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 370,391 shares of the company’s stock valued at $3,385,000 after purchasing an additional 90,518 shares during the last quarter. Finally, Engineers Gate Manager LP grew its stake in shares of Adecoagro by 115.7% in the 2nd quarter. Engineers Gate Manager LP now owns 191,927 shares of the company’s stock valued at $1,754,000 after buying an additional 102,955 shares during the period. Institutional investors and hedge funds own 45.25% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AGRO. UBS Group decreased their price target on shares of Adecoagro from $15.20 to $13.20 and set a “buy” rating on the stock in a research note on Thursday, August 27th. Weiss Ratings downgraded shares of Adecoagro from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, July 14th. Finally, JPMorgan Chase & Co. raised their target price on shares of Adecoagro from $7.00 to $10.50 and gave the stock an “underweight” rating in a research note on Monday, June 15th. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $11.62.

Adecoagro Company Profile

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.