Wall Street brokerages expect that Pacific Ethanol Inc (NASDAQ:PEIX) will post earnings of ($0.19) per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Pacific Ethanol’s earnings. Pacific Ethanol reported earnings per share of ($0.31) in the same quarter last year, which would suggest a positive year-over-year growth rate of 38.7%. The company is scheduled to issue its next quarterly earnings results on Wednesday, August 14th.
According to Zacks, analysts expect that Pacific Ethanol will report full-year earnings of ($0.86) per share for the current fiscal year. For the next financial year, analysts anticipate that the company will report earnings of ($1.33) per share. Zacks’ EPS calculations are an average based on a survey of research firms that cover Pacific Ethanol.
Pacific Ethanol (NASDAQ:PEIX) last issued its quarterly earnings results on Wednesday, May 1st. The oil and gas company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.20). The company had revenue of $355.80 million during the quarter, compared to analyst estimates of $387.87 million. Pacific Ethanol had a negative net margin of 4.46% and a negative return on equity of 19.59%.
Several equities research analysts have recently weighed in on PEIX shares. ValuEngine cut Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Zacks Investment Research cut GENEL ENERGY PL/ADR from a “hold” rating to a “sell” rating in a research note on Thursday, July 4th. Finally, HC Wainwright reissued a “buy” rating on shares of Ballard Power Systems in a research note on Friday, May 3rd. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $4.50.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PEIX. California Public Employees Retirement System lifted its holdings in shares of Pacific Ethanol by 32.2% in the fourth quarter. California Public Employees Retirement System now owns 189,775 shares of the oil and gas company’s stock valued at $163,000 after purchasing an additional 46,240 shares in the last quarter. United Services Automobile Association lifted its holdings in shares of Pacific Ethanol by 7.4% in the fourth quarter. United Services Automobile Association now owns 197,761 shares of the oil and gas company’s stock valued at $170,000 after purchasing an additional 13,700 shares in the last quarter. Norges Bank bought a new position in shares of Pacific Ethanol in the fourth quarter valued at approximately $191,000. Geode Capital Management LLC lifted its holdings in shares of Pacific Ethanol by 41.9% in the fourth quarter. Geode Capital Management LLC now owns 329,332 shares of the oil and gas company’s stock valued at $283,000 after purchasing an additional 97,240 shares in the last quarter. Finally, Advisor Group Inc. lifted its holdings in shares of Pacific Ethanol by 4.2% in the fourth quarter. Advisor Group Inc. now owns 406,355 shares of the oil and gas company’s stock valued at $350,000 after purchasing an additional 16,197 shares in the last quarter. 38.82% of the stock is owned by institutional investors and hedge funds.
Shares of PEIX stock traded up $0.02 on Thursday, hitting $0.70. The company had a trading volume of 7,749 shares, compared to its average volume of 293,159. The stock has a market cap of $33.93 million, a price-to-earnings ratio of -0.49 and a beta of 2.00. The company’s 50-day moving average price is $0.84. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.48 and a current ratio of 0.75. Pacific Ethanol has a twelve month low of $0.67 and a twelve month high of $3.24.
About Pacific Ethanol
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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