Cosan (NYSE:CSAN) Posts Quarterly Earnings Results

Cosan (NYSE:CSAN) issued its earnings results on Friday. The company reported ($0.47) earnings per share for the quarter, Zacks reports. Cosan had a negative net margin of 28.08% and a negative return on equity of 27.61%.

Cosan Stock Up 0.1%

Shares of NYSE:CSAN opened at $5.09 on Friday. The company has a market capitalization of $2.37 billion, a P/E ratio of -5.59 and a beta of 1.00. The stock’s fifty day simple moving average is $4.78 and its 200-day simple moving average is $4.90. Cosan has a 52-week low of $3.80 and a 52-week high of $8.15. The company has a quick ratio of 1.98, a current ratio of 2.13 and a debt-to-equity ratio of 1.88.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on CSAN shares. HSBC reaffirmed a “reduce” rating and issued a $4.40 price objective on shares of Cosan in a report on Monday, September 22nd. Hsbc Global Res raised Cosan to a “moderate sell” rating in a report on Monday, September 22nd. Zacks Research downgraded Cosan from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 26th. Wall Street Zen raised shares of Cosan from a “sell” rating to a “hold” rating in a research note on Friday, August 22nd. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Cosan in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $9.47.

Institutional Investors Weigh In On Cosan

Several hedge funds have recently made changes to their positions in CSAN. Royal Bank of Canada grew its holdings 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 purchasing an additional 197,987 shares during the period. BNP Paribas Financial Markets grew its stake in shares of Cosan by 1,788.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 116,348 shares of the company’s stock valued at $535,000 after buying an additional 110,186 shares during the period. UBS Group AG grew its stake in shares of Cosan by 4.5% during the 3rd quarter. UBS Group AG now owns 2,551,244 shares of the company’s stock valued at $11,736,000 after buying an additional 109,186 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Cosan by 4,668.1% during the 2nd 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. Finally, Goldman Sachs Group Inc. raised its position in shares of Cosan by 79.4% in the 1st 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 period.

Cosan Company Profile

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.