Wall Street brokerages expect that Pacific Ethanol Inc (NASDAQ:PEIX) will report earnings of ($0.08) per share for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Pacific Ethanol’s earnings, with the highest EPS estimate coming in at $0.00 and the lowest estimate coming in at ($0.18). Pacific Ethanol reported earnings of ($0.01) per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 700%. The company is expected to report its next quarterly earnings results 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 financial year, analysts anticipate that the company will post earnings of $0.34 per share, with EPS estimates ranging from $0.22 to $0.50. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that that provide coverage for Pacific Ethanol.
Pacific Ethanol (NASDAQ:PEIX) last posted its quarterly earnings data on Wednesday, August 8th. The oil and gas company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.12). Pacific Ethanol had a negative return on equity of 9.12% and a negative net margin of 2.09%. The company had revenue of $410.52 million during the quarter, compared to the consensus estimate of $434.65 million.
Several research analysts recently weighed in on the stock. ValuEngine cut shares of Pacific Ethanol from a “hold” rating to a “sell” rating in a research report on Monday, July 2nd. HC Wainwright restated a “buy” rating on shares of Pacific Ethanol in a research report on Monday, July 16th. Zacks Investment Research cut shares of Pacific Ethanol from a “hold” rating to a “sell” rating in a research report on Wednesday, August 15th. Finally, B. Riley set a $7.00 target price on shares of Pacific Ethanol and gave the stock a “buy” rating in a report on Sunday, August 12th.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Acadian Asset Management LLC acquired a new stake in Pacific Ethanol during the 2nd quarter worth $570,000. California Public Employees Retirement System grew its holdings in Pacific Ethanol by 24.0% during the 1st quarter. California Public Employees Retirement System now owns 114,573 shares of the oil and gas company’s stock worth $344,000 after acquiring an additional 22,179 shares during the period. JPMorgan Chase & Co. grew its holdings in Pacific Ethanol by 80.7% during the 1st quarter. JPMorgan Chase & Co. now owns 1,690,258 shares of the oil and gas company’s stock worth $5,071,000 after acquiring an additional 754,734 shares during the period. Matarin Capital Management LLC acquired a new stake in Pacific Ethanol during the 1st quarter worth $2,149,000. Finally, Mackay Shields LLC acquired a new stake in Pacific Ethanol during the 1st quarter worth $500,000. 65.09% of the stock is owned by hedge funds and other institutional investors.
PEIX stock traded up $0.03 during trading on Monday, hitting $1.85. The company had a trading volume of 81,662 shares, compared to its average volume of 398,840. 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 12 month low of $1.70 and a 12 month high of $6.05. The stock has a market capitalization of $82.04 million, a PE ratio of -2.18 and a beta of 1.83.
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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