Wall Street analysts forecast that Pacific Ethanol Inc (NASDAQ:PEIX) will post $422.11 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Pacific Ethanol’s earnings. The lowest sales estimate is $409.70 million and the highest is $437.50 million. Pacific Ethanol reported sales of $441.72 million during the same quarter last year, which indicates a negative year over year growth rate of 4.4%. The company is expected to announce its next quarterly earnings report on Wednesday, March 7th.
According to Zacks, analysts expect that Pacific Ethanol will report full-year sales of $422.11 million for the current fiscal year, with estimates ranging from $1.65 billion to $1.68 billion. For the next year, analysts forecast that the firm will post sales of $1.76 billion per share, with estimates ranging from $1.71 billion to $1.81 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Pacific Ethanol.
Pacific Ethanol (NASDAQ:PEIX) last announced its quarterly earnings results on Tuesday, November 7th. The oil and gas company reported ($0.01) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.09. The business had revenue of $445.40 million during the quarter, compared to the consensus estimate of $434.57 million. Pacific Ethanol had a negative net margin of 0.51% and a negative return on equity of 2.13%. The business’s revenue was up 6.6% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.09) EPS.
A number of equities analysts have recently issued reports on PEIX shares. B. Riley started coverage on shares of Pacific Ethanol in a report on Tuesday, November 28th. They issued a “buy” rating and a $7.00 price target for the company. HC Wainwright reiterated a “buy” rating and issued a $14.00 price target on shares of Pacific Ethanol in a report on Thursday, November 9th. Zacks Investment Research upgraded shares of Pacific Ethanol from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 17th. Finally, ValuEngine downgraded shares of Pacific Ethanol from a “hold” rating to a “sell” rating in a report on Friday, September 1st. Two research analysts have rated the stock with a sell rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $11.50.
Pacific Ethanol (NASDAQ PEIX) opened at $4.42 on Friday. The company has a current ratio of 2.30, a quick ratio of 1.53 and a debt-to-equity ratio of 0.56. Pacific Ethanol has a twelve month low of $4.10 and a twelve month high of $10.20.
In other Pacific Ethanol news, Director William L. Jones sold 20,000 shares of the firm’s stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $4.30, for a total transaction of $86,000.00. Following the completion of the transaction, the director now directly owns 56,903 shares in the company, valued at approximately $244,682.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 3.87% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of PEIX. Boston Partners grew its holdings in shares of Pacific Ethanol by 55.6% during the third quarter. Boston Partners now owns 2,561,600 shares of the oil and gas company’s stock worth $14,217,000 after buying an additional 915,830 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Pacific Ethanol by 32.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,178,378 shares of the oil and gas company’s stock worth $13,615,000 after buying an additional 533,318 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Pacific Ethanol by 61.5% during the third quarter. JPMorgan Chase & Co. now owns 967,792 shares of the oil and gas company’s stock worth $5,371,000 after buying an additional 368,649 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Pacific Ethanol by 47.9% during the third quarter. Russell Investments Group Ltd. now owns 1,117,432 shares of the oil and gas company’s stock worth $6,200,000 after buying an additional 362,062 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Pacific Ethanol by 29.4% during the first quarter. Vanguard Group Inc. now owns 1,540,132 shares of the oil and gas company’s stock worth $10,551,000 after buying an additional 349,854 shares in the last quarter. Institutional investors and hedge funds own 80.54% of the company’s stock.
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Pacific Ethanol Company Profile
Pacific Ethanol, Inc (Pacific Ethanol) is a marketer and producer of low-carbon renewable fuels in the Western United States. Pacific Ethanol markets all the ethanol produced by four ethanol production facilities located in California, Idaho and Oregon, or the Pacific Ethanol Plants, all the ethanol produced by three other ethanol producers in the Western United States and ethanol purchased from other third-party suppliers throughout the United States.
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