-$0.06 Earnings Per Share Expected for Pacific Ethanol, Inc. (PEIX) This Quarter
Analysts forecast that Pacific Ethanol, Inc. (NASDAQ:PEIX) will announce earnings per share (EPS) of ($0.06) for the current quarter, according to Zacks. Three analysts have issued estimates for Pacific Ethanol’s earnings, with the lowest EPS estimate coming in at ($0.30) and the highest estimate coming in at $0.20. Pacific Ethanol reported earnings of ($0.09) per share during the same quarter last year, which would indicate a positive year over year growth rate of 33.3%. The business is expected to announce its next quarterly earnings results on Wednesday, November 1st.
According to Zacks, analysts expect that Pacific Ethanol will report full year earnings of ($0.37) per share for the current financial year, with EPS estimates ranging from ($0.54) to ($0.09). For the next financial year, analysts expect that the company will report earnings of $0.55 per share, with EPS estimates ranging from ($0.10) to $0.95. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Pacific Ethanol.
Pacific Ethanol (NASDAQ:PEIX) last issued its quarterly earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.22) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.04) by $0.18. The business had revenue of $405.20 million for the quarter, compared to analyst estimates of $410.34 million. Pacific Ethanol had a negative return on equity of 3.02% and a negative net margin of 0.72%. The firm’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.11 EPS.
A number of brokerages have recently weighed in on PEIX. Cowen and Company set a $13.00 target price on Pacific Ethanol and gave the company a “buy” rating in a research note on Saturday, July 29th. HC Wainwright set a $14.00 target price on Pacific Ethanol and gave the company a “buy” rating in a research note on Friday, August 4th. ValuEngine lowered Pacific Ethanol from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd. Finally, Zacks Investment Research upgraded Pacific Ethanol from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 10th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $12.50.
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Shares of Pacific Ethanol (PEIX) traded up 1.16% during mid-day trading on Tuesday, reaching $4.35. 443,332 shares of the company were exchanged. Pacific Ethanol has a 12 month low of $4.15 and a 12 month high of $10.95. The firm’s market capitalization is $191.28 million. The company’s 50-day moving average is $5.52 and its 200 day moving average is $6.46.
A number of institutional investors have recently bought and sold shares of the stock. Alambic Investment Management L.P. boosted its position in Pacific Ethanol by 137.8% in the first quarter. Alambic Investment Management L.P. now owns 59,200 shares of the oil and gas company’s stock valued at $406,000 after buying an additional 34,300 shares in the last quarter. Oxford Asset Management purchased a new position in Pacific Ethanol during the first quarter valued at about $780,000. Parametric Portfolio Associates LLC boosted its position in Pacific Ethanol by 36.7% in the first quarter. Parametric Portfolio Associates LLC now owns 219,046 shares of the oil and gas company’s stock valued at $1,500,000 after buying an additional 58,851 shares in the last quarter. TFS Capital LLC boosted its position in Pacific Ethanol by 112.3% in the first quarter. TFS Capital LLC now owns 190,672 shares of the oil and gas company’s stock valued at $1,306,000 after buying an additional 100,866 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Pacific Ethanol by 5.7% in the first quarter. Bank of New York Mellon Corp now owns 177,579 shares of the oil and gas company’s stock valued at $1,216,000 after buying an additional 9,575 shares in the last quarter. Institutional investors and hedge funds own 75.08% of the company’s stock.
Pacific Ethanol Company Profile
Pacific Ethanol, Inc (Pacific Ethanol) is a marketer and producer of low-carbon renewable fuels in the Western United States. Pacific Ethanol markets all the ethanol produced by four ethanol production facilities located in California, Idaho and Oregon, or the Pacific Ethanol Plants, all the ethanol produced by three other ethanol producers in the Western United States and ethanol purchased from other third-party suppliers throughout the United States.
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