Green Plains (NASDAQ:GPRE) Issues Quarterly Earnings Results

Green Plains (NASDAQ:GPRE) announced its earnings results on Wednesday. The specialty chemicals company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.48, reports. The company had revenue of $508.49 million for the quarter, compared to analysts’ expectations of $583.55 million. Green Plains had a negative net margin of 6.34% and a negative return on equity of 13.65%. The firm’s quarterly revenue was down 22.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.69 EPS.

Green Plains Trading Up 12.6%

Green Plains stock traded up $1.26 during midday trading on Wednesday, reaching $11.28. 4,387,115 shares of the stock traded hands, compared to its average volume of 2,010,269. The firm has a market cap of $739.57 million, a PE ratio of -4.70 and a beta of 1.28. The company has a current ratio of 1.47, a quick ratio of 0.94 and a debt-to-equity ratio of 0.58. The company has a 50-day simple moving average of $10.16 and a two-hundred day simple moving average of $7.52. Green Plains has a 12-month low of $3.14 and a 12-month high of $12.60.

Analysts Set New Price Targets

GPRE has been the topic of several analyst reports. Tudor, Pickering, Holt & Co. upgraded Green Plains from a “hold” rating to a “buy” rating and set a $14.00 price target on the stock in a report on Monday, October 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Green Plains in a research note on Wednesday, October 8th. Zacks Research upgraded shares of Green Plains to a “hold” rating in a report on Monday, August 11th. Tudor Pickering upgraded shares of Green Plains from a “hold” rating to a “strong-buy” rating in a report on Monday, October 6th. Finally, Bank of America upped their price objective on Green Plains from $7.00 to $9.00 and gave the company an “underperform” rating in a report on Tuesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Green Plains has an average rating of “Hold” and a consensus target price of $10.00.

Insider Activity

In other news, insider Michelle Mapes sold 30,954 shares of the firm’s stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $9.51, for a total value of $294,372.54. Following the completion of the transaction, the insider owned 60,558 shares of the company’s stock, valued at approximately $575,906.58. This trade represents a 33.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Rhumbline Advisers grew its stake in Green Plains by 1.3% during the 2nd quarter. Rhumbline Advisers now owns 100,159 shares of the specialty chemicals company’s stock worth $604,000 after purchasing an additional 1,246 shares in the last quarter. Creative Planning raised its position in Green Plains by 6.9% in the 2nd quarter. Creative Planning now owns 42,977 shares of the specialty chemicals company’s stock valued at $259,000 after purchasing an additional 2,759 shares in the last quarter. Sei Investments Co. boosted its stake in shares of Green Plains by 31.3% in the 2nd quarter. Sei Investments Co. now owns 17,764 shares of the specialty chemicals company’s stock valued at $107,000 after buying an additional 4,232 shares during the period. WINTON GROUP Ltd acquired a new position in shares of Green Plains during the second quarter worth about $61,000. Finally, Snowden Capital Advisors LLC increased its stake in shares of Green Plains by 173.5% during the second quarter. Snowden Capital Advisors LLC now owns 49,097 shares of the specialty chemicals company’s stock worth $296,000 after buying an additional 31,144 shares during the period.

Green Plains Company Profile

Green Plains Inc produces low-carbon fuels in the United States and internationally. It operates through three segments: Ethanol Production, Agribusiness and Energy Services, and Partnership. The Ethanol Production segment produces ethanol, distillers grains, and ultra-high protein and renewable corn oil.