Green Plains Sets New 1-Year High Following Dividend Announcement (GPRE)
Green Plains (NASDAQ:GPRE) reached a new 52-week high on Thursday following a dividend announcement from the company, American Banking News reports. The stock traded as high as $43.88 and last traded at $42.62, with a volume of 570,372 shares changing hands. The stock had previously closed at $42.38.
The newly announced dividend is scheduled for Thursday, September 18th. Stockholders of record on Thursday, August 28th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.76%.
A number of analysts have recently weighed in on GPRE shares. Analysts at Jefferies Group raised their price target on shares of Green Plains from $40.00 to $47.00 in a research note on Monday, August 4th. They now have a “buy” rating on the stock. Separately, analysts at Feltl & Co. upgraded shares of Green Plains from a “hold” rating to a “buy” rating in a research note on Friday, August 1st. Finally, analysts at Wedbush raised their price target on shares of Green Plains from $29.00 to $41.00 in a research note on Thursday, July 31st. They now have a “neutral” rating on the stock. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $44.60.
The stock’s 50-day moving average is $37.26 and its 200-day moving average is $30.21. The company has a market cap of $1.603 billion and a P/E ratio of 15.80.
Green Plains (NASDAQ:GPRE) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $0.82 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.96 by $0.14. The company had revenue of $837.90 million for the quarter, compared to the consensus estimate of $854.13 million. During the same quarter last year, the company posted $0.19 earnings per share. Green Plains’s revenue was up 4.1% compared to the same quarter last year. Analysts expect that Green Plains will post $3.81 EPS for the current fiscal year.
In other Green Plains news, EVP Carl S. Bleyl unloaded 46,307 shares of Green Plains stock on the open market in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $40.11, for a total value of $1,857,373.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Green Plains Inc (NASDAQ:GPRE), formerly Green Plains Renewable Energy, Inc, incorporated on June 29, 2004, is vertically integrated producer, marketer and distributer of ethanol.
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