Zacks Investment Research cut 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 research analysts have also weighed in on the stock. JPMorgan Chase lowered shares of Cosan from an overweight rating to a neutral rating and boosted their target price for the company from $10.00 to $13.00 in a research note on Tuesday, February 20th. UBS lowered Cosan from a buy rating to a neutral rating in a research note on Thursday, February 8th. Finally, ValuEngine lowered Cosan from a strong-buy rating to a buy rating in a research note on Monday, April 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $12.50.
Cosan (NYSE:CZZ) last announced its earnings results on Friday, March 2nd. The basic materials company reported $0.40 earnings per share for the quarter. The business had revenue of $1.14 billion during 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 year.
Several large investors have recently bought and sold shares of CZZ. Investors Research Corp purchased a new stake in shares of Cosan in the 4th quarter worth $186,000. First Trust Advisors LP purchased a new stake in shares of Cosan in the 4th quarter worth $232,000. Ellington Management Group LLC purchased a new stake in shares of Cosan in the 4th quarter worth $372,000. Fox Run Management L.L.C. increased its stake in shares of Cosan by 82.0% in the 4th quarter. Fox Run Management L.L.C. now owns 43,500 shares of the basic materials company’s stock worth $422,000 after purchasing an additional 19,600 shares in the last quarter. Finally, State Street Corp increased its stake 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 in the last quarter. Hedge funds and other institutional investors own 23.49% of the company’s stock.
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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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