Pacific Ethanol, Inc. (PEIX) Given Consensus Rating of “Hold” by Analysts
Shares of Pacific Ethanol, Inc. (NASDAQ:PEIX) have been given an average recommendation of “Hold” by the six ratings firms that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $13.00.
PEIX has been the subject of several analyst reports. ValuEngine lowered Pacific Ethanol from a “hold” rating to a “sell” rating in a research note on Friday, September 1st. HC Wainwright reaffirmed a “buy” rating and issued a $14.00 price objective on shares of Pacific Ethanol in a research note on Wednesday, June 28th. Zacks Investment Research raised Pacific Ethanol from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 10th. Finally, Cowen and Company set a $13.00 price objective on Pacific Ethanol and gave the company a “buy” rating in a research note on Saturday, July 29th.
Shares of Pacific Ethanol (PEIX) opened at 5.20 on Monday. Pacific Ethanol has a 12 month low of $4.15 and a 12 month high of $10.95. The firm has a 50-day moving average price of $5.02 and a 200 day moving average price of $6.20. The company’s market cap is $228.65 million.
Pacific Ethanol (NASDAQ:PEIX) last posted its quarterly earnings data on Wednesday, August 2nd. The oil and gas company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.18). The company had revenue of $405.20 million during the quarter, compared to the consensus estimate of $410.34 million. Pacific Ethanol had a negative net margin of 0.72% and a negative return on equity of 3.02%. Pacific Ethanol’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.11 earnings per share. Equities analysts predict that Pacific Ethanol will post ($0.38) earnings per share for the current year.
Several hedge funds have recently modified their holdings of the stock. Massachusetts Financial Services Co. MA lifted its stake in shares of Pacific Ethanol by 1.2% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 35,269 shares of the oil and gas company’s stock worth $242,000 after acquiring an additional 419 shares during the last quarter. Brandywine Global Investment Management LLC lifted its stake in shares of Pacific Ethanol by 2.8% during the 2nd quarter. Brandywine Global Investment Management LLC now owns 22,350 shares of the oil and gas company’s stock worth $140,000 after acquiring an additional 610 shares during the last quarter. OppenheimerFunds Inc. lifted its stake in shares of Pacific Ethanol by 4.7% during the 1st quarter. OppenheimerFunds Inc. now owns 16,212 shares of the oil and gas company’s stock worth $111,000 after acquiring an additional 728 shares during the last quarter. American International Group Inc. lifted its stake in shares of Pacific Ethanol by 7.1% during the 1st quarter. American International Group Inc. now owns 17,659 shares of the oil and gas company’s stock worth $121,000 after acquiring an additional 1,163 shares during the last quarter. Finally, Nordea Investment Management AB lifted its stake in shares of Pacific Ethanol by 0.9% during the 2nd quarter. Nordea Investment Management AB now owns 286,500 shares of the oil and gas company’s stock worth $1,791,000 after acquiring an additional 2,500 shares during the last quarter. 75.08% of the stock is owned by hedge funds and other institutional investors.
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About Pacific Ethanol
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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