Wall Street brokerages predict that Pacific Ethanol Inc (NASDAQ:PEIX) will post earnings of ($0.04) per share for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Pacific Ethanol’s earnings, with estimates ranging from ($0.19) to $0.03. Pacific Ethanol reported earnings of $0.30 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 113.3%. The business is scheduled to report its next earnings results on Wednesday, March 7th.
According to Zacks, analysts expect that Pacific Ethanol will report full year earnings of ($0.58) per share for the current financial year, with EPS estimates ranging from ($0.73) to ($0.51). For the next financial year, analysts anticipate that the company will post earnings of $0.49 per share, with EPS estimates ranging from $0.32 to $0.80. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that that provide coverage for Pacific Ethanol.
Pacific Ethanol (NASDAQ:PEIX) last posted its quarterly earnings results on Tuesday, November 7th. The oil and gas company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.09. Pacific Ethanol had a negative net margin of 0.51% and a negative return on equity of 2.13%. The company had revenue of $445.40 million during the quarter, compared to analysts’ expectations of $434.57 million. During the same quarter in the previous year, the business posted ($0.09) EPS. The firm’s revenue was up 6.6% on a year-over-year basis.
Several research firms have commented on PEIX. Zacks Investment Research cut shares of Pacific Ethanol from a “hold” rating to a “strong sell” rating in a report on Thursday, October 5th. HC Wainwright reiterated a “buy” rating and set a $14.00 price target on shares of Pacific Ethanol in a report on Thursday, November 9th. Finally, B. Riley began coverage on shares of Pacific Ethanol in a report on Tuesday, November 28th. They set a “buy” rating and a $7.00 price target for the company. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $10.20.
In other news, Director William L. Jones sold 20,000 shares of the business’s stock in a transaction that occurred on 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 sale, the director now owns 56,903 shares in the company, valued at approximately $244,682.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 3.87% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Brandywine Global Investment Management LLC raised its position in Pacific Ethanol by 2.8% in the 2nd quarter. Brandywine Global Investment Management LLC now owns 22,350 shares of the oil and gas company’s stock valued at $140,000 after purchasing an additional 610 shares during the last quarter. Nordea Investment Management AB raised its position in Pacific Ethanol by 0.9% in the 2nd quarter. Nordea Investment Management AB now owns 286,500 shares of the oil and gas company’s stock valued at $1,791,000 after purchasing an additional 2,500 shares during the last quarter. Voya Investment Management LLC raised its position in Pacific Ethanol by 21.9% in the 2nd quarter. Voya Investment Management LLC now owns 19,222 shares of the oil and gas company’s stock valued at $120,000 after purchasing an additional 3,448 shares during the last quarter. First Trust Advisors LP raised its position in Pacific Ethanol by 23.2% in the 2nd quarter. First Trust Advisors LP now owns 43,522 shares of the oil and gas company’s stock valued at $272,000 after purchasing an additional 8,198 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in Pacific Ethanol by 53.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 34,264 shares of the oil and gas company’s stock valued at $214,000 after purchasing an additional 11,925 shares during the last quarter. Hedge funds and other institutional investors own 80.67% of the company’s stock.
Pacific Ethanol (PEIX) opened at $4.65 on Tuesday. 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 $9.35. The company has a market cap of $200.07, a P/E ratio of -19.37, a price-to-earnings-growth ratio of 0.46 and a beta of 2.06.
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About Pacific Ethanol
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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