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    STNE   KYG851581069

STONECO LTD.

(STNE)
  Report
Delayed Nasdaq  -  04:00 2022-10-03 pm EDT
10.55 USD   +10.70%
09/27Stoneco : VOTING RESULTS OF STONECO LTD. 2022 ANNUAL GENERAL MEETING OF SHAREHOLDERS - Form 6-K
PU
09/19StoneCo Ltd.(NasdaqGS:STNE) dropped from S&P Global 1200
CI
09/19StoneCo Ltd.(NasdaqGS:STNE) dropped from S&P International 700
CI
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SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

StoneCo Shares Fall on 2Q Loss

08/19/2022 | 05:19am EDT

By Will Feuer


Shares of Brazilian financial-technology company StoneCo Ltd. fell in premarket trading after it reported it swung to a loss in the second quarter.

The company posted a loss of 489.3 million reais ($94.7 million), compared with a profit of BRL526.0 million a year earlier.

The company said the swing to a loss was mostly due to mark-to-market losses from its investment in Banco Inter SA, which hurt profit by BRL527.1 million in the recent quarter and boosted profit by BRL841.2 million a year earlier. Banco Inter's publicly traded parent company, Inter & Co., was hit by a wave of apparently unusual trading activity around the end of the quarter, StoneCo said.

Inter stock fell 26.1% on June 30, and then increased by 31.9% on July 1. StoneCo said its mark to market is based on the value of the investment on June 30.

On a per-share basis, the loss was BRL1.56, compared with a profit of BRL1.72, it said.

Stripping out the effects from the investment in Banco Inter and other one-time items, adjusted earnings came to BRL0.25 a share. Analysts surveyed by FactSet had been looking for adjusted earnings of BRL0.24 a share.

Revenue surged to BRL2.3 billion from BRL613.4 million in the prior-year period, which included a BRL397.2 million negative adjustment in credit fair value. Analysts surveyed by FactSet had been looking for BRL2.2 billion.

The company said Chief Financial Officer Marcelo Baldin will depart the company, and Silvio Jose Morais will take over as interim finance chief. Mr. Morais will temporarily step down as a board member to assume his new duties, the company said. The company said Tatiana Malamud was appointed chief legal officer effective Aug. 1.

Shares of StoneCo fell almost 13% to $10.17 in the premarket session. The stock this year was down almost 31% before Friday's decline.


Write to Will Feuer at Will.Feuer@wsj.com


(END) Dow Jones Newswires

08-19-22 0719ET

Stocks mentioned in the article
ChangeLast1st jan.
INTER & CO, INC. 7.36% 3.5 Delayed Quote.0.00%
STONECO LTD. 10.70% 10.55 Delayed Quote.-37.43%
All news about STONECO LTD.
09/27Stoneco : VOTING RESULTS OF STONECO LTD. 2022 ANNUAL GENERAL MEETING OF SHAREHOLDERS - For..
PU
09/19StoneCo Ltd.(NasdaqGS:STNE) dropped from S&P Global 1200
CI
09/19StoneCo Ltd.(NasdaqGS:STNE) dropped from S&P International 700
CI
09/08Wells Fargo Securities Adjusts StoneCo's Price Target to $9 From $10, Maintains Equalwe..
MT
09/06Sector Update: Small Decline for Financial Stocks Near Close
MT
09/06Sector Update: Financial Stocks Floundering in Tuesday Trading
MT
09/06Goldman Sachs Cuts StoneCo to Sell From Neutral, Price Target to $7.80 From $9.80
MT
08/31Morgan Stanley Adjusts StoneCo Price Target to $16 From $18, Maintains Overweight Ratin..
MT
08/19Sector Update: Financial Stocks Tumble as 10-Year Treasury Yield Again Nea..
MT
08/19Top Midday Decliners
MT
More news
Analyst Recommendations on STONECO LTD.
More recommendations
Financials
Sales 2022 9 350 M 1 806 M 1 806 M
Net income 2022 -580 M -112 M -112 M
Net Debt 2022 361 M 69,7 M 69,7 M
P/E ratio 2022 -31,5x
Yield 2022 0,00%
Capitalization 17 056 M 3 295 M 3 295 M
EV / Sales 2022 1,86x
EV / Sales 2023 1,58x
Nbr of Employees -
Free-Float 78,9%
Chart STONECO LTD.
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StoneCo Ltd. Technical Analysis Chart | MarketScreener
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Technical analysis trends STONECO LTD.
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 19
Last Close Price 54,61 BRL
Average target price 67,20 BRL
Spread / Average Target 23,0%
EPS Revisions
Managers and Directors
Thiago dos Santos Piau Finance Director
Augusto Barbosa Estellita Lins President
Silvio Jose Morais Chief Financial Officer
André Street de Aguiar Chairman
Felipe Salvini Bourrus Chief Technology Officer
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