Adecoagro (NYSE:AGRO) Announces Quarterly Earnings Results

Adecoagro (NYSE:AGRO) announced its earnings results on Monday. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.49), FiscalAI reports. The firm had revenue of $419.45 million during the quarter, compared to analyst estimates of $408.94 million. Adecoagro had a negative net margin of 0.55% and a negative return on equity of 1.17%.

Adecoagro Stock Performance

Shares of Adecoagro stock traded up $0.71 during trading on Wednesday, hitting $13.78. 434,306 shares of the company’s stock were exchanged, compared to its average volume of 1,280,297. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.82 and a current ratio of 1.38. The business has a 50-day simple moving average of $13.06 and a 200-day simple moving average of $9.94. Adecoagro has a 52-week low of $6.89 and a 52-week high of $15.89. The stock has a market capitalization of $1.96 billion, a price-to-earnings ratio of -172.38 and a beta of -0.04.

Adecoagro Dividend Announcement

The firm also recently announced a dividend, which will be paid on Tuesday, May 19th. Investors of record on Monday, May 4th will be issued a dividend of $0.1213 per share. This represents a dividend yield of 160.0%. The ex-dividend date of this dividend is Monday, May 4th. Adecoagro’s dividend payout ratio (DPR) is -300.00%.

Insider Activity

In related news, CEO Mariano Bosch sold 100,000 shares of the firm’s stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $14.50, for a total transaction of $1,450,000.00. Following the completion of the transaction, the chief executive officer owned 897,249 shares of the company’s stock, valued at $13,010,110.50. This trade represents a 10.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 106,815 shares of company stock worth $1,540,799 over the last three months.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Lazard Asset Management LLC purchased a new position in shares of Adecoagro during the fourth quarter worth $1,498,000. Goldman Sachs Group Inc. raised its holdings in shares of 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. Balyasny Asset Management L.P. purchased a new position in shares of Adecoagro during the fourth quarter worth $902,000. Verition Fund Management LLC grew its position in Adecoagro by 17.0% during the fourth quarter. Verition Fund Management LLC now owns 97,741 shares of the company’s stock valued at $775,000 after buying an additional 14,224 shares during the period. Finally, Tudor Investment Corp ET AL grew its position in Adecoagro by 134.0% during the fourth quarter. Tudor Investment Corp ET AL now owns 88,132 shares of the company’s stock valued at $699,000 after buying an additional 50,464 shares during the period. Hedge funds and other institutional investors own 45.25% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Weiss Ratings upgraded shares of Adecoagro from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, May 6th. Citigroup downgraded 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. UBS Group upgraded shares of Adecoagro from a “neutral” rating to a “buy” rating and raised their target price for the company from $8.00 to $16.20 in a research note on Monday, March 30th. Zacks Research downgraded shares of Adecoagro from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 9th. Finally, Morgan Stanley raised shares of Adecoagro from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $9.50 to $13.00 in a report on Tuesday, March 17th. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $11.53.

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.