Equities analysts predict that Pacific Ethanol Inc (NASDAQ:PEIX) will announce earnings of ($0.07) per share for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Pacific Ethanol’s earnings. The lowest EPS estimate is ($0.09) and the highest is ($0.05). Pacific Ethanol reported earnings per share of ($0.19) in the same quarter last year, which suggests a positive year-over-year growth rate of 63.2%. The company is expected to report its next quarterly earnings report on Tuesday, May 14th.
On average, analysts expect that Pacific Ethanol will report full-year earnings of $0.03 per share for the current fiscal year, with EPS estimates ranging from ($0.10) to $0.15. For the next year, analysts expect that the company will report earnings of $0.08 per share. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that cover Pacific Ethanol.
Pacific Ethanol (NASDAQ:PEIX) last issued its quarterly earnings results on Tuesday, March 12th. The oil and gas company reported ($0.74) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.33) by ($0.41). The company had revenue of $334.42 million during the quarter, compared to analysts’ expectations of $386.56 million. Pacific Ethanol had a negative net margin of 4.00% and a negative return on equity of 17.24%.
A number of analysts have commented on the stock. Zacks Investment Research downgraded shares of Pacific Ethanol from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 19th. Roth Capital lowered Pacific Ethanol from a “buy” rating to a “neutral” rating in a research note on Thursday, March 14th. Finally, ValuEngine upgraded Pacific Ethanol from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. Pacific Ethanol currently has a consensus rating of “Hold” and an average target price of $5.33.
A number of hedge funds have recently modified their holdings of PEIX. Renaissance Technologies LLC boosted its holdings in Pacific Ethanol by 160.1% during the 3rd quarter. Renaissance Technologies LLC now owns 475,000 shares of the oil and gas company’s stock valued at $903,000 after acquiring an additional 292,400 shares during the period. Norges Bank purchased a new stake in Pacific Ethanol in the 4th quarter worth approximately $191,000. Acadian Asset Management LLC lifted its holdings in Pacific Ethanol by 109.7% in the 4th quarter. Acadian Asset Management LLC now owns 350,742 shares of the oil and gas company’s stock worth $302,000 after buying an additional 183,454 shares during the period. Geode Capital Management LLC lifted its holdings in Pacific Ethanol by 41.9% in the 4th quarter. Geode Capital Management LLC now owns 329,332 shares of the oil and gas company’s stock worth $283,000 after buying an additional 97,240 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Pacific Ethanol by 1.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,392,150 shares of the oil and gas company’s stock worth $6,445,000 after buying an additional 47,444 shares during the period. Institutional investors own 45.81% of the company’s stock.
PEIX stock traded down $0.09 during mid-day trading on Wednesday, reaching $1.08. The company’s stock had a trading volume of 2,905 shares, compared to its average volume of 448,931. The company has a market cap of $57.20 million, a price-to-earnings ratio of -0.77 and a beta of 2.32. The company has a current ratio of 0.73, a quick ratio of 0.48 and a debt-to-equity ratio of 0.27. Pacific Ethanol has a fifty-two week low of $0.76 and a fifty-two week high of $3.95.
Pacific Ethanol Company Profile
Pacific Ethanol, Inc produces and markets low-carbon renewable fuels in the United States. The company operates in two segments, Production and Marketing. It produces and markets ethanol; specialty alcohols; and co-products, such as wet distillers grains, dry distillers grains with solubles, wet and dry corn gluten feed, condensed distillers solubles, corn gluten meal, corn germ, corn oil, distillers yeast, and CO2, as well as markets ethanol produced by third parties.
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