Zacks Investment Research lowered shares of Cosan (NYSE:CZZ) from a hold rating to a sell rating in a research note issued to investors on Wednesday morning.
According to Zacks, “In the last month, Cosan's American Depository Receipts (ADR) underperformed the industry. We believe that the company is exposed to risks from geo-political issues, foreign exchange variations and high operating costs. Also, unfavorable weather conditions, especially drought, frost and heavy rainfall, can severely impact sugarcane production and hence, impact the company's financials. In the last 60 days, the company's earnings estimates have decreased for 2018.”
A number of other equities analysts also recently commented on the stock. JPMorgan Chase downgraded shares of Cosan from an overweight rating to a neutral rating and upped their target price for the stock from $10.00 to $13.00 in a research note on Tuesday, February 20th. UBS downgraded shares of Cosan from a buy rating to a neutral rating in a research note on Thursday, February 8th. Finally, ValuEngine downgraded shares of Cosan from a strong-buy rating to a buy rating in a research note on Monday, April 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Cosan currently has an average rating of Hold and a consensus target price of $12.50.
Cosan (NYSE:CZZ) last issued its earnings results on Friday, March 2nd. The basic materials company reported $0.40 EPS for the quarter. The business had revenue of $1.14 billion for the quarter. Cosan had a net margin of 4.03% and a return on equity of 5.68%. equities analysts forecast that Cosan will post 2.09 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently made changes to their positions in CZZ. State Street Corp lifted its position in shares of Cosan by 1.3% in the 2nd quarter. State Street Corp now owns 100,609 shares of the basic materials company’s stock worth $645,000 after purchasing an additional 1,300 shares during the period. Legal & General Group Plc lifted its position in shares of Cosan by 3.1% in the 3rd quarter. Legal & General Group Plc now owns 204,335 shares of the basic materials company’s stock worth $1,663,000 after purchasing an additional 6,200 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Cosan by 134,730.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 790,106 shares of the basic materials company’s stock worth $6,352,000 after purchasing an additional 789,520 shares during the period. Cubist Systematic Strategies LLC lifted its position in shares of Cosan by 144.8% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 104,674 shares of the basic materials company’s stock worth $851,000 after purchasing an additional 61,913 shares during the period. Finally, GSA Capital Partners LLP lifted its position in shares of Cosan by 1,049.6% in the 3rd quarter. GSA Capital Partners LLP now owns 129,905 shares of the basic materials company’s stock worth $1,056,000 after purchasing an additional 118,605 shares during the period. 23.49% of the stock is owned by hedge funds and other institutional investors.
Cosan Limited, together with its subsidiaries, engages in fuel and natural gas distribution, logistics, lubricant, sugar and ethanol, and fuel businesses primarily in Brazil and internationally. The company's Raízen Energia segment produces and markets various products derived from sugar cane, including raw sugar, and anhydrous and hydrated ethanol.
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