Equities analysts expect Pacific Ethanol Inc (NASDAQ:PEIX) to post ($0.21) earnings per share (EPS) for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Pacific Ethanol’s earnings, with estimates ranging from ($0.21) to ($0.20). Pacific Ethanol posted earnings per share of ($0.18) during the same quarter last year, which suggests a negative year-over-year growth rate of 16.7%. The company is expected to announce its next quarterly earnings report on Wednesday, October 30th.
On average, analysts expect that Pacific Ethanol will report full year earnings of ($0.84) per share for the current financial year, with EPS estimates ranging from ($0.87) to ($0.80). For the next year, analysts forecast that the company will report earnings of ($0.64) per share, with EPS estimates ranging from ($0.72) to ($0.55). Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that follow Pacific Ethanol.
Pacific Ethanol (NASDAQ:PEIX) last posted its earnings results on Wednesday, July 31st. The oil and gas company reported ($0.17) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.19) by $0.02. The business had revenue of $346.30 million during the quarter, compared to analyst estimates of $377.12 million. Pacific Ethanol had a negative return on equity of 18.75% and a negative net margin of 4.27%.
PEIX has been the subject of a number of research analyst reports. ValuEngine lowered Pacific Ethanol from a “buy” rating to a “hold” rating in a report on Tuesday, July 2nd. HC Wainwright reduced their target price on Pacific Ethanol from $4.00 to $3.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Finally, Zacks Investment Research raised Pacific Ethanol from a “sell” rating to a “hold” rating in a report on Thursday, July 4th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $4.00.
Pacific Ethanol stock opened at $0.53 on Friday. The firm has a market cap of $27.37 million, a price-to-earnings ratio of -0.37 and a beta of 2.05. The stock has a fifty day simple moving average of $0.61 and a two-hundred day simple moving average of $0.94. Pacific Ethanol has a 12 month low of $0.50 and a 12 month high of $3.24. The company has a current ratio of 0.77, a quick ratio of 0.43 and a debt-to-equity ratio of 0.45.
In other Pacific Ethanol news, CEO Neil M. Koehler bought 100,000 shares of Pacific Ethanol stock in a transaction on Thursday, August 22nd. The stock was acquired at an average price of $0.57 per share, with a total value of $57,000.00. Following the acquisition, the chief executive officer now owns 932,985 shares in the company, valued at $531,801.45. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 3.85% of the stock is currently owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the company. Acadian Asset Management LLC boosted its stake in shares of Pacific Ethanol by 22.6% in the 1st quarter. Acadian Asset Management LLC now owns 430,145 shares of the oil and gas company’s stock worth $422,000 after buying an additional 79,403 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of 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 last quarter. Norges Bank purchased a new position in shares of Pacific Ethanol in the 4th quarter worth $191,000. Vanguard Group Inc. boosted its stake in shares of Pacific Ethanol by 55.0% in the 2nd quarter. Vanguard Group Inc. now owns 1,910,502 shares of the oil and gas company’s stock worth $1,461,000 after buying an additional 677,991 shares during the last quarter. Finally, A.R.T. Advisors LLC purchased a new position in shares of Pacific Ethanol in the 2nd quarter worth $34,000. Hedge funds and other institutional investors own 40.30% of the company’s stock.
Pacific Ethanol Company Profile
Pacific Ethanol, Inc produces and markets low-carbon renewable fuels and alcohol products in the United States. The company operates in two segments, Production and Marketing. It produces and markets ethanol; and co-products, such as wet and dry distillers grains, 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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