Pacific Ethanol (NASDAQ:PEIX) Posts Quarterly Earnings Results, Misses Estimates By $0.42 EPS
Pacific Ethanol (NASDAQ:PEIX) posted its earnings results on Thursday. The oil and gas company reported ($0.58) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.16) by ($0.42), RTT News reports. The company had revenue of $365.16 million for the quarter, compared to the consensus estimate of $359.26 million. Pacific Ethanol had a negative net margin of 4.27% and a negative return on equity of 18.75%. During the same period last year, the company posted ($0.18) earnings per share.
Shares of NASDAQ:PEIX traded down $0.04 during trading on Friday, hitting $0.56. 372,600 shares of the company traded hands, compared to its average volume of 399,476. Pacific Ethanol has a one year low of $0.50 and a one year high of $1.80. The business’s fifty day moving average is $0.58 and its 200-day moving average is $0.75. The stock has a market capitalization of $28.74 million, a price-to-earnings ratio of -0.39 and a beta of 1.71. The company has a quick ratio of 0.43, a current ratio of 0.77 and a debt-to-equity ratio of 0.45.
Separately, HC Wainwright lowered their target price on Pacific Ethanol from $4.00 to $3.00 and set a “buy” rating for the company in a report on Friday, August 2nd.
Pacific Ethanol Company Profile
Pacific Ethanol, Inc produces and markets low-carbon renewable fuels and alcohol products in the United States. The company operates in two segments, Production and Marketing. It produces and markets ethanol; and co-products, such as wet and dry distillers grains, 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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