$0.04 Earnings Per Share Expected for Pacific Ethanol, Inc. (PEIX) This Quarter
Equities analysts expect Pacific Ethanol, Inc. (NASDAQ:PEIX) to announce earnings of $0.04 per share for the current quarter, Zacks reports. Three analysts have provided estimates for Pacific Ethanol’s earnings. The highest EPS estimate is $0.12 and the lowest is ($0.04). Pacific Ethanol posted earnings per share of $0.11 during the same quarter last year, which suggests a negative year over year growth rate of 63.6%. The company is expected to issue its next quarterly earnings report on Wednesday, July 26th.
On average, analysts expect that Pacific Ethanol will report full-year earnings of $0.25 per share for the current financial year, with EPS estimates ranging from ($0.06) to $0.55. For the next year, analysts forecast that the business will report earnings of $1.11 per share, with EPS estimates ranging from $0.76 to $1.45. Zacks’ earnings per share averages are a mean average based on a survey of analysts that that provide coverage for Pacific Ethanol.
Pacific Ethanol (NASDAQ:PEIX) last posted its quarterly earnings results on Tuesday, May 9th. The oil and gas company reported ($0.31) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.04) by $0.27. Pacific Ethanol had a net margin of 0.12% and a return on equity of 0.52%. The business had revenue of $386.30 million during the quarter, compared to analyst estimates of $385.81 million. During the same quarter in the prior year, the business earned ($0.32) earnings per share. The firm’s quarterly revenue was up 12.8% on a year-over-year basis.
PEIX has been the topic of a number of recent analyst reports. Zacks Investment Research lowered shares of Pacific Ethanol from a “hold” rating to a “strong sell” rating in a report on Thursday, May 11th. ValuEngine lowered shares of Pacific Ethanol from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. Finally, HC Wainwright reiterated a “buy” rating and issued a $14.00 price objective on shares of Pacific Ethanol in a report on Wednesday, June 28th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $12.33.
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Several large investors have recently modified their holdings of PEIX. DnB Asset Management AS raised its stake in shares of Pacific Ethanol by 40.7% in the second quarter. DnB Asset Management AS now owns 2,367,337 shares of the oil and gas company’s stock worth $14,796,000 after buying an additional 685,298 shares during the period. HighTower Advisors LLC raised its stake in shares of Pacific Ethanol by 4.1% in the first quarter. HighTower Advisors LLC now owns 1,660,822 shares of the oil and gas company’s stock worth $11,374,000 after buying an additional 65,685 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Pacific Ethanol by 56.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,645,060 shares of the oil and gas company’s stock worth $11,269,000 after buying an additional 590,856 shares during the period. Vanguard Group Inc. raised its stake in shares of Pacific Ethanol by 29.4% in the first quarter. Vanguard Group Inc. now owns 1,540,132 shares of the oil and gas company’s stock worth $10,551,000 after buying an additional 349,854 shares during the period. Finally, Boston Partners raised its stake in shares of Pacific Ethanol by 141.7% in the first quarter. Boston Partners now owns 1,507,400 shares of the oil and gas company’s stock worth $10,325,000 after buying an additional 883,860 shares during the period. Institutional investors and hedge funds own 63.87% of the company’s stock.
Shares of Pacific Ethanol (NASDAQ:PEIX) opened at 6.15 on Monday. The firm has a market capitalization of $268.80 million, a PE ratio of 341.67 and a beta of 2.19. Pacific Ethanol has a 1-year low of $5.62 and a 1-year high of $10.95. The firm has a 50-day moving average price of $6.12 and a 200-day moving average price of $6.97.
About Pacific Ethanol
Pacific Ethanol, Inc (Pacific Ethanol) is a marketer and producer of low-carbon renewable fuels in the Western United States. Pacific Ethanol markets all the ethanol produced by four ethanol production facilities located in California, Idaho and Oregon, or the Pacific Ethanol Plants, all the ethanol produced by three other ethanol producers in the Western United States and ethanol purchased from other third-party suppliers throughout the United States.
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