Research Analysts Set Expectations for Cadiz FY2024 Earnings

Cadiz Inc. (NASDAQ:CDZI) – Equities researchers at B. Riley raised their FY2024 earnings estimates for shares of Cadiz in a report issued on Tuesday, November 5th. B. Riley analyst M. Crawford now forecasts that the company will post earnings per share of ($0.46) for the year, up from their previous forecast of ($0.47). The consensus estimate for Cadiz’s current full-year earnings is ($0.47) per share. B. Riley also issued estimates for Cadiz’s Q4 2024 earnings at ($0.08) EPS, Q1 2025 earnings at ($0.09) EPS, Q2 2025 earnings at ($0.08) EPS, Q3 2025 earnings at ($0.08) EPS, Q4 2025 earnings at ($0.08) EPS, FY2025 earnings at ($0.33) EPS, Q1 2026 earnings at ($0.10) EPS, Q2 2026 earnings at ($0.09) EPS, Q3 2026 earnings at ($0.09) EPS and FY2026 earnings at ($0.33) EPS.

Cadiz Stock Down 5.1 %

Shares of Cadiz stock opened at $3.56 on Thursday. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.89 and a quick ratio of 1.40. Cadiz has a 1-year low of $2.12 and a 1-year high of $3.85. The business’s fifty day moving average price is $3.13 and its two-hundred day moving average price is $3.08. The company has a market capitalization of $241.72 million, a P/E ratio of -6.98 and a beta of 0.85.

Cadiz (NASDAQ:CDZI) last released its quarterly earnings results on Tuesday, August 13th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.05). Cadiz had a negative net margin of 1,095.05% and a negative return on equity of 77.51%. The business had revenue of $0.51 million for the quarter, compared to the consensus estimate of $4.00 million.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CDZI. Nisa Investment Advisors LLC bought a new position in Cadiz during the 2nd quarter valued at $31,000. SG Americas Securities LLC bought a new position in Cadiz during the third quarter valued at about $45,000. Joel Isaacson & Co. LLC boosted its stake in Cadiz by 70.8% during the third quarter. Joel Isaacson & Co. LLC now owns 20,500 shares of the company’s stock valued at $62,000 after buying an additional 8,500 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in Cadiz by 212.2% during the first quarter. BNP Paribas Financial Markets now owns 35,264 shares of the company’s stock worth $102,000 after acquiring an additional 23,968 shares during the period. Finally, Sheaff Brock Investment Advisors LLC raised its position in Cadiz by 70.8% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 41,000 shares of the company’s stock worth $119,000 after acquiring an additional 17,000 shares in the last quarter. Institutional investors and hedge funds own 79.75% of the company’s stock.

Insider Activity

In related news, major shareholder International Group Se Heerema acquired 2,070,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were acquired at an average cost of $3.34 per share, for a total transaction of $6,913,800.00. Following the completion of the purchase, the insider now directly owns 22,783,965 shares in the company, valued at $76,098,443.10. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.70% of the company’s stock.

Cadiz Company Profile

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.