Rentech Inc. (RTK) Releases Quarterly Earnings Results, Misses Estimates By $0.23 EPS
Rentech Inc. (NASDAQ:RTK) posted its quarterly earnings data on Thursday. The company reported ($0.42) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by $0.23. The company earned $38.60 million during the quarter, compared to the consensus estimate of $45.85 million. Rentech had a return on equity of 296.39% and a net margin of 106.00%. The firm’s revenue for the quarter was down 9.8% on a year-over-year basis. During the same quarter last year, the company posted ($1.38) earnings per share.
Shares of Rentech (NASDAQ:RTK) opened at 2.45 on Thursday. The stock has a market cap of $56.81 million, a price-to-earnings ratio of 0.25 and a beta of 2.01. The stock’s 50 day moving average price is $2.73 and its 200-day moving average price is $2.87. Rentech has a 1-year low of $1.55 and a 1-year high of $4.15.
A number of hedge funds have recently modified their holdings of RTK. Cutler Group LP boosted its position in Rentech by 4,079.0% in the second quarter. Cutler Group LP now owns 340,423 shares of the company’s stock worth $817,000 after buying an additional 332,277 shares during the last quarter. Kennedy Capital Management Inc. boosted its position in Rentech by 36.6% in the first quarter. Kennedy Capital Management Inc. now owns 1,144,363 shares of the company’s stock worth $2,540,000 after buying an additional 306,904 shares during the last quarter. Pekin Singer Strauss Asset Management IL boosted its position in Rentech by 51.8% in the second quarter. Pekin Singer Strauss Asset Management IL now owns 706,192 shares of the company’s stock worth $1,695,000 after buying an additional 241,001 shares during the last quarter. NEXT Financial Group Inc acquired a new position in Rentech during the third quarter worth about $321,000. Finally, Oxford Asset Management boosted its position in Rentech by 529.3% in the second quarter. Oxford Asset Management now owns 102,786 shares of the company’s stock worth $247,000 after buying an additional 86,452 shares during the last quarter. 45.97% of the stock is currently owned by institutional investors.
Separately, Zacks Investment Research upgraded shares of Rentech from a “sell” rating to a “hold” rating in a research report on Wednesday, July 13th.
Rentech Company Profile
Rentech, Inc is a provider of wood fiber processing services, wood chips and wood pellets. The Company’s processing business includes Fulghum Fibres, Inc (Fulghum), which operates approximately 30 wood chipping mills in the United States and South America. The Company provides wood yard operations services.
Receive News & Stock Ratings for Rentech Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rentech Inc. and related stocks with our FREE daily email newsletter.