Cadiz (CDZI) to Release Quarterly Earnings on Wednesday

Cadiz (NASDAQ:CDZI) is anticipated to issue its results before the market opens on Wednesday, November 12th. Analysts expect the company to announce earnings of ($0.09) per share and revenue of $3.90 million for the quarter.

Cadiz (NASDAQ:CDZI) last issued its quarterly earnings data on Wednesday, August 13th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.02). The company had revenue of $4.13 million for the quarter, compared to analysts’ expectations of $3.90 million. Cadiz had a negative net margin of 217.49% and a negative return on equity of 97.55%. On average, analysts expect Cadiz to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Cadiz Price Performance

Shares of Cadiz stock opened at $4.90 on Monday. The stock has a market cap of $402.22 million, a price-to-earnings ratio of -9.61 and a beta of 1.90. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.55 and a current ratio of 1.81. The stock has a 50 day moving average price of $4.68 and a 200-day moving average price of $3.65. Cadiz has a one year low of $2.13 and a one year high of $6.10.

Wall Street Analyst Weigh In

Several research analysts have commented on CDZI shares. Wall Street Zen raised shares of Cadiz from a “sell” rating to a “hold” rating in a research note on Saturday, August 16th. Weiss Ratings restated a “sell (d-)” rating on shares of Cadiz in a report on Wednesday, October 8th. Finally, Zacks Research upgraded shares of Cadiz from a “strong sell” rating to a “hold” rating in a report on Thursday, August 14th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $10.00.

Institutional Trading of Cadiz

Large investors have recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Cadiz by 4.7% during the third quarter. Vanguard Group Inc. now owns 3,035,901 shares of the company’s stock valued at $14,329,000 after buying an additional 135,343 shares during the period. Bank of America Corp DE raised its position in shares of Cadiz by 50.2% in the 2nd quarter. Bank of America Corp DE now owns 1,517,751 shares of the company’s stock valued at $4,538,000 after purchasing an additional 507,449 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Cadiz by 19.8% during the second quarter. Geode Capital Management LLC now owns 1,262,379 shares of the company’s stock worth $3,775,000 after buying an additional 208,830 shares during the period. Rhumbline Advisers grew its stake in Cadiz by 147.0% during the 2nd quarter. Rhumbline Advisers now owns 91,963 shares of the company’s stock valued at $275,000 after purchasing an additional 54,725 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its position in Cadiz by 26.5% in the second quarter. Russell Investments Group Ltd. now owns 89,821 shares of the company’s stock valued at $269,000 after buying an additional 18,841 shares during the last quarter. Hedge funds and other institutional investors own 79.75% of the company’s stock.

About Cadiz

Cadiz Inc, together with its subsidiaries, provides water solutions in the United States. The company operates through Land and Water Resources; and Water Filtration Technology segments. It offers water supply, water storage, water conveyance, and water filtration services. In addition, the company is involved in the cultivation of grain crops and alfalfa, as well as provides water filtration solutions for impaired or contaminated groundwater sources.