B. Riley Has Positive Outlook of Cadiz FY2024 Earnings

Cadiz Inc. (NASDAQ:CDZI) – B. Riley lifted their FY2024 earnings per share (EPS) estimates for shares of Cadiz in a research note issued to investors 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 (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). The company had revenue of $0.51 million during the quarter, compared to analyst estimates of $4.00 million. Cadiz had a negative net margin of 1,095.05% and a negative return on equity of 77.51%.

Cadiz Stock Performance

Shares of CDZI opened at $3.56 on Thursday. The company has a 50-day moving average of $3.13 and a two-hundred day moving average of $3.08. The stock has a market cap of $241.72 million, a price-to-earnings ratio of -6.98 and a beta of 0.85. 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 one year low of $2.12 and a one year high of $3.85.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CDZI. BNP Paribas Financial Markets grew its stake in shares of Cadiz by 212.2% in the 1st quarter. BNP Paribas Financial Markets now owns 35,264 shares of the company’s stock valued at $102,000 after buying an additional 23,968 shares in the last quarter. Vanguard Group Inc. grew its position in Cadiz by 5.3% in the first quarter. Vanguard Group Inc. now owns 2,280,495 shares of the company’s stock worth $6,613,000 after acquiring an additional 113,834 shares in the last quarter. Sheaff Brock Investment Advisors LLC increased its stake in shares of Cadiz by 70.8% during the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 41,000 shares of the company’s stock worth $119,000 after purchasing an additional 17,000 shares during the last quarter. Levin Capital Strategies L.P. raised its holdings in shares of Cadiz by 116.2% during the 1st quarter. Levin Capital Strategies L.P. now owns 2,105,529 shares of the company’s stock valued at $6,106,000 after purchasing an additional 1,131,576 shares in the last quarter. Finally, Nisa Investment Advisors LLC acquired a new stake in shares of Cadiz in the 2nd quarter valued at $31,000. 79.75% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Cadiz news, major shareholder International Group Se Heerema acquired 2,070,000 shares of Cadiz stock in a transaction that occurred on Tuesday, November 5th. The stock was purchased at an average cost of $3.34 per share, with a total value of $6,913,800.00. Following the purchase, the insider now owns 22,783,965 shares in the company, valued at approximately $76,098,443.10. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company 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.