$32.03 Million in Sales Expected for Vertex Energy, Inc (VTNR) This Quarter
Wall Street brokerages expect Vertex Energy, Inc (NASDAQ:VTNR) to report sales of $32.03 million for the current quarter, Zacks reports. Three analysts have provided estimates for Vertex Energy’s earnings. The lowest sales estimate is $31.10 million and the highest is $33.70 million. Vertex Energy posted sales of $24.43 million during the same quarter last year, which would indicate a positive year over year growth rate of 31.1%. The business is scheduled to issue its next earnings report on Thursday, August 10th.
On average, analysts expect that Vertex Energy will report full year sales of $32.03 million for the current fiscal year, with estimates ranging from $131.30 million to $136.40 million. For the next financial year, analysts anticipate that the business will report sales of $145.00 million per share, with estimates ranging from $141.50 million to $148.50 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover Vertex Energy.
Vertex Energy (NASDAQ:VTNR) last released its earnings results on Wednesday, May 10th. The industrial products company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by $0.07. Vertex Energy had a negative return on equity of 16.86% and a negative net margin of 5.63%. The business had revenue of $34.77 million for the quarter, compared to analysts’ expectations of $30.03 million.
Separately, Zacks Investment Research upgraded Vertex Energy from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 10th.
An institutional investor recently raised its position in Vertex Energy stock. Prescott Group Capital Management L.L.C. increased its position in shares of Vertex Energy, Inc (NASDAQ:VTNR) by 0.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 137,582 shares of the industrial products company’s stock after buying an additional 872 shares during the period. Prescott Group Capital Management L.L.C. owned approximately 0.41% of Vertex Energy worth $153,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 23.48% of the company’s stock.
Shares of Vertex Energy (NASDAQ VTNR) traded up 0.485% during trading on Thursday, reaching $1.035. The company had a trading volume of 516 shares. The stock’s 50-day moving average price is $1.04 and its 200-day moving average price is $1.16. The company’s market capitalization is $33.27 million. Vertex Energy has a 52 week low of $0.90 and a 52 week high of $1.80.
Vertex Energy Company Profile
Vertex Energy, Inc is an environmental services company that recycles industrial waste streams and off-specification commercial chemical products. The Company focuses on recycling used motor oil and other petroleum by-products. The Company’s segments include the Black Oil, Refining and Marketing, and Recovery divisions.
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