Equities analysts expect Pacific Ethanol Inc (NASDAQ:PEIX) to report earnings of ($0.08) per share for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Pacific Ethanol’s earnings, with estimates ranging from ($0.18) to $0.00. Pacific Ethanol posted earnings of ($0.01) per share during the same quarter last year, which would indicate a negative year over year growth rate of 700%. The business is scheduled to report its next earnings report on Tuesday, November 6th.
According to Zacks, analysts expect that Pacific Ethanol will report full year earnings of ($0.44) per share for the current year, with EPS estimates ranging from ($0.76) to ($0.18). For the next year, analysts anticipate that the firm will post earnings of $0.34 per share, with EPS estimates ranging from $0.22 to $0.50. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Pacific Ethanol.
Pacific Ethanol (NASDAQ:PEIX) last issued its quarterly earnings data on Wednesday, August 8th. The oil and gas company reported ($0.31) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by ($0.12). Pacific Ethanol had a negative net margin of 2.09% and a negative return on equity of 9.12%. The firm had revenue of $410.52 million during the quarter, compared to analyst estimates of $434.65 million.
Several brokerages have issued reports on PEIX. Zacks Investment Research downgraded shares of Pacific Ethanol from a “hold” rating to a “sell” rating in a research report on Wednesday, August 15th. HC Wainwright set a $14.00 price objective on shares of Pacific Ethanol and gave the company a “buy” rating in a research report on Friday, August 10th. ValuEngine downgraded shares of Pacific Ethanol from a “sell” rating to a “strong sell” rating in a research report on Tuesday, April 24th. Finally, B. Riley set a $7.00 price objective on shares of Pacific Ethanol and gave the company a “buy” rating in a research report on Sunday, August 12th.
Several hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its position in shares of Pacific Ethanol by 9.0% during the second quarter. Dimensional Fund Advisors LP now owns 3,344,706 shares of the oil and gas company’s stock worth $8,696,000 after buying an additional 274,844 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Pacific Ethanol by 80.7% during the first quarter. JPMorgan Chase & Co. now owns 1,690,258 shares of the oil and gas company’s stock worth $5,071,000 after buying an additional 754,734 shares in the last quarter. Candlewood Investment Group LP grew its position in shares of Pacific Ethanol by 42.5% during the second quarter. Candlewood Investment Group LP now owns 1,680,130 shares of the oil and gas company’s stock worth $4,368,000 after buying an additional 501,296 shares in the last quarter. Foundry Partners LLC grew its position in shares of Pacific Ethanol by 5.6% during the second quarter. Foundry Partners LLC now owns 1,148,471 shares of the oil and gas company’s stock worth $2,986,000 after buying an additional 61,281 shares in the last quarter. Finally, Matarin Capital Management LLC acquired a new stake in shares of Pacific Ethanol during the first quarter worth approximately $2,149,000. 75.52% of the stock is owned by institutional investors and hedge funds.
Shares of NASDAQ:PEIX opened at $2.05 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.21 and a quick ratio of 1.54. Pacific Ethanol has a 52-week low of $1.98 and a 52-week high of $6.05. The company has a market capitalization of $105.64 million, a price-to-earnings ratio of -2.41 and a beta of 2.08.
About Pacific Ethanol
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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